Continued Outflows Weigh on Janus Henderson; Expecting No End to Negative Organic Growth
We expect to lower our fair value estimate for narrow-moat rated Janus Henderson to USD 29 from USD 34 after updating our assumptions about AUM, revenue, and profitability following the release of third-quarter results from the firm. As part of our reassessment, we expect to incorporate the prospect of a bear market midway through our five-year forecast, as opposed to a mere correction in the equity markets, which is having an outsized influence on our fair value estimate.Janus Henderson close...
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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