Report
Chanaka Gunasekera
EUR 100.00 For Business Accounts Only

IOOF’s FVE Reduced on Ord Minnett Sale

Narrow-moat IOOF Holdings’ fair value estimate is cut to AUD 5.30 per share from AUD 5.60 primarily because of the sale of its 70% interest in Ord Minnett. We expect the sale to reduce IOOF group’s underlying net profit after tax, or NPAT, by about AUD 12 million per year, representing about 6% of forecast fiscal 2019 underlying NPAT. Notwithstanding the near-term earnings impact, which drives our valuation downgrade, we support the Ord Minnett sale because it should allow IOOF to focus on its a...
Underlying
IOOF Holdings Ltd

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.

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
Chanaka Gunasekera

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch