AMP Continues to Disappoint With a Profit and Dividend Reduction; FVE Reduced
AMP Limited continues to disappoint guiding to underlying net profit after tax, or NPAT, of AUD 680 million in fiscal 2018, leading to a reduction in our fair value estimate to AUD 2.60 per share from AUD 2.85. The company’s underlying NPAT guidance is muddled by the fact that it includes the losses of the businesses being sold to Resolution Life and by the fact that it only provides aggregate figures. Stripping out the NPAT of the business being sold, the aggregate underlying NPAT of the retain...AMP is a wealth management company in Australia and New Zealand, with an international investment management business and a retail banking business in Australia. Co. provides retail customers in Australia and New Zealand with financial advice, superannuation, retirement income and investment products. Co. also provides superannuation services for businesses, administration, banking and investment services for self-managed superannuation funds, income protection, disability and life insurance, and selected banking products. As of Dec 31 2015, Co. had total assets under management of A$226.00 billion.
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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