Moat and Trend Assessment of Several Asset Managers Leads to Upgrades, Downgrades, and FVE Changes
We've updated our moat and trend ratings for a handful of U.S.-based asset managers--Invesco, Affiliated Managers Group, Franklin Resources, Eaton Vance, and Waddell & Reed--making several downgrades, one upgrade, and a handful of changes in our fair value estimates. As we look at the industry today, we see a confluence of a few different issues--poor relative active investment performance, the growth and acceptance of low-cost index-based products, and the expanding power of the retail-advi...Affiliated Managers Group is a global asset management company with equity investments in boutique investment management firms (Affiliates). The company provides centralized capabilities to its Affiliates, including strategy, marketing and distribution, and product development. Through its Affiliates, the company provides strategies designed to assist institutional, retail and clients worldwide in achieving their investment objectives. The company provides boutique investment management services to retail investors through advisory and sub-advisory services to return-oriented mutual funds, Undertakings for the Collective Investment of Transferable Securities, collective investment trusts and other retail products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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