Report
Eric Compton
EUR 98.48 For Business Accounts Only

IGM's positioning leaves it much more exposed to the negative trends affecting the Canadian market.

There was little in narrow-moat rated IGM Financial's fourth-quarter results that would alter our long-term view of the firm, and we are maintaining our fair value estimate of CAD 40. We continue to believe that the firm's market positioning leaves it more exposed to the negative trends we expect to affect the Canadian market in the near- to medium-term, and we see more opportunities for fee and margin compression than we do for growth or expansion.
IGM closed out the December quarter with CAD 1...
Underlying
IGM Financial Inc.

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.

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
Eric Compton

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