IGM Financial Posts Mixed 1Q Results; No Change to Our CAD 42 FVE
There was little in narrow-moat-rated IGM Financial's first-quarter results that would alter our long-term view of the company. We've left our CAD 42 fair value estimate in place.IGM Financial closed the March quarter with CAD 155.8 billion in managed assets, reflective of a 0.5% sequential decline in fee-earning assets. On a year-over-year basis, the firm's assets under management increased 9.6%. Investors Group, which accounts for 56% of the firm's managed assets, reported a 1.0% sequential d...
IGM Financial is engaged in the provision of financial services. Co.'s Investors Group segment provides financial and investment planning services to Canadians through its network of consultants across the country. Co.'s Mackenzie segment is engaged in the provision of investment advice and related services offered through investment applications, distributed through channels focused on independent financial advice. Co.'s Corporate and Other segment includes net investment income earned on unallocated investments and other income, operating results for Investment Planning Counsel as well as inter-segment eliminations. As of Dec 31 2010, Co. had total assets of C$8,892,563.
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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