Shocking Royal Commission revelations mean AMP will be a high-risk investment in the near term.
Our fair value estimate for narrow-moat AMP Limited is unchanged at AUD 3.60 per share after its first-half 2018 results. Underlying net profit after tax, or NPAT, of AUD 495 million was in line with guidance. It also declared a 50% franked interim dividend of AUD 0.10 per share. This was lower than the payout target range of 70%-90% of underlying NPAT. However, AMP reconfirmed the total 2018 dividend at the lower end of the payout range, and we still forecast a full-year dividend of AUD 0.23....
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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