Report
Greggory Warren, CFA
EUR 101.80 For Business Accounts Only

Invesco's Interest in Guggenheim a Sign of the Times; Leaving $37 per Share FVE in Place

We were not too surprised to hear that narrow-moat-rated Invesco is kicking the tires on Guggenheim Investments, a subsidiary of Guggenheim Partners (which oversees more than $230 billion in assets), as it fits with the general consolidation theme we've laid out for the U.S.-based asset managers longer term. Our general take is that industry consolidation is inevitable and that active asset managers, and even some passive managers, will need to add scale to offset a lower fee and profitability e...
Underlying
Invesco Ltd.

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
Greggory Warren, CFA

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