Removal of DOL Rule Will Not Eliminate Longer-Term Trends Affecting U.S. Asset Managers
While news of Donald Trump's election has sparked a rally in the shares of the U.S.-based asset managers, we think an overturning of the Department of Labor fiduciary rule, although more likely, does not alter the long-term secular trends affecting the industry. If anything, a reversal of the DOL rule will decelerate what we had expected to be an acceleration of the fee and margin compression we envision for the industry--driven by poor relative active investment performance and the growth and a...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open-end funds, which provide and issue shares continuously as assets are invested and redeem shares when assets are withdrawn; and closed-end funds, which are registered investment companies that have issued a fixed number of shares through public offerings.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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