IOOF Posts Strong 1H18 Earnings, But our AUD 11.00 FVE Depends on ANZ Wealth Management Acquisition
We have increased our fiscal 2018 underlying net profit after tax, or NPAT, forecast for narrow-moat IOOF Holdings following strong underlying earnings growth from all its major segments in first-half fiscal 2018. First-half fiscal 2018 underlying NPAT of AUD 94.8 million increased an impressive 19% from a year ago primarily due to strong net fund inflows, lower operating expenses, and a modest increase in net operating margin to 23 basis points. Our fiscal 2018 underlying NPAT increases moderat...IOOF Holdings is engaged in the financial services industry. Co. provides a range of wealth management solutions for Australians, including: financial advice and distribution services via its network of financial advisers and stockbrokers; platform management and administration such as superannuation and investment administration platforms for advisers, their clients and employers in Australia; investment management products that are designed for investors; and trustee services, including estate planning and administration, personal trustee services, self-managed super fund solutions and corporate trust.
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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