Morningstar - IOOF Holdings Ltd (IFL) IOOFâ€™s FVE Unchanged Following the ANZ Wealth Acquisition Update

Report

Morningstar

Chanaka Gunasekera

EUR 100.00 For Business Accounts Only

IOOFâ€™s FVE Unchanged Following the ANZ Wealth Acquisition Update

Narrow-moat-rated IOOF Holdingsâ€™ fair value estimate of AUD 5.00 per share is unchanged following announced amendments to the contract governing its proposed acquisition of ANZ Bankâ€™s Pensions and Investments, or P&I, business. It appears to us the contract changes are primarily aimed at providing more time for the P&I trustee (OnePath Custodians) and ANZ Bank to consider whether to approve IOOFâ€™s proposed acquisition of the P&I business. In addition, we think the changes ensure ANZ ...

15/01/2019 16 EN

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.

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AU000000IFL2 Australian Securities Exchange Australia

Provider

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.

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Analysts

Chanaka Gunasekera

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IOOFâ€™s FVE Unchanged Following the ANZ Wealth Acquisition Update

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