Report
Ravi Reddy
EUR 101.80 For Business Accounts Only

Transferring Coverage; BT Investment Management Has Attractive Growth Profile but Is Fairly Valued

We transfer analyst coverage of BT Investment Management. Our fair value estimate increases slightly to AUD 11.00 from AUD 10.90 per share following minor changes to our earnings forecasts. Our medium fair value uncertainty and Standard stewardship ratings are reaffirmed. At current levels, BT Investment Management shares are fairly valued.
BT Investment Management is a unique listed Australian headquartered active fund manager. The business has changed significantly since Westpac Banking Corpor...
Underlying
Pendal Group

Provider
Morningstar
Morningstar

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.

Analysts
Ravi Reddy

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