Eaton Vance's Third-Quarter AUM Improves on Mixed Flows and Market Gains; Fair Value Estimate Intact
There was little in wide-moat Eaton Vance's fiscal third-quarter results that would alter our long-term view of the firm. We are maintaining our $35 per share fair value estimate. The company closed out the July quarter with $334.4 billion in total assets under management, or AUM, up 4.9% sequentially and reflective of a 7.0% year-over-year increase. Net inflows of $7.0 billion were driven primarily by the firm's fixed-income ($2.4 billion), implementation services ($2.9 billion), and exposure m...Eaton Vance is engaged in managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. Through its investment affiliates, the company manages active equity, income, alternative and blended strategies across a range of investment styles and asset classes, including United States, global and international equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds, and mortgage-backed securities, as well as a range of systematic investment strategies, including systematic equity, systematic alternatives and managed options strategies.
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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