Royal Commission Final Report a Positive for the Major Banks, AMP, and IOOF. No Change to FVEs
The final report of the Hayne Royal Commission released late Feb. 4, 2019 included no major surprises and is a net positive for Australia’s besieged major banks. Key recommendations are far less Draconian than expected. The government has stated all recommendations will be acted on and the opposition Labor party has confirmed all recommendations will be implemented. Importantly, despite severe reputational damage, in our view, the major banks have navigated through the Royal Commission with domi...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.
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