Moats for the U.S.-Based Asset Managers Are Narrowing; Stick With BlackRock and T. Rowe Price
For much of the past decade, the traditional U.S.-based asset managers have benefited from a bull market in equities, which has helped to lift AUM levels for most firms. Concerns about that bull market run ending sooner rather than later, and ongoing pressures from poor active-equity investment performance and the growth and acceptance of low-cost index-based products (which have not only impacted organic growth but have also raised questions about fee and margin compression longer term), have l...Cohen & Steers is a holding company. Through its subsidiaries, the company is an investment manager focusing on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The company manages three types of investment vehicles: institutional accounts, which represent portfolios of securities it manages for institutional clients; open-end funds, which provide and issue shares continuously as assets are invested and redeem shares when assets are withdrawn; and closed-end funds, which are registered investment companies that have issued a fixed number of shares through public offerings.
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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