Morningstar | Focus on growth in funds platform will still grow earnings by reduce business risk
Lendlease's business model has evolved to become more focused on large urban renewal projects in major global cities. The strategy is to be vertically integrated, enabling Lendlease to generate income from each stage of the process: deal structuring and financing, developer fees, construction fees, and fund management fees if the assets are ultimately purchased by its property management platform. This strategy appears to be working well, with Lendlease able to leverage its successful track record in Australian projects into secure similar large-scale urban renewal projects globally. While Lendlease has managed development risk to date by securing presales and utilising third-party capital, shareholders could be exposed to capital losses if interest rates unexpectedly spike, triggering falls in the value of property assets.LendLease operates a regional management structure in Australia, Asia, Europe and the Americas. Co.'s segments include: Development, which is involved in the development of communities, inner-city mixed-use developments, apartments, retirement, retail, commercial assets and social and economic infrastructure; Construction, which provides project management, design, and construction services, predominantly in the infrastructure, defence, mixed-use, commercial, and residential sectors; and Investments, which includes a wholesale investment management platform and also includes Co.'s ownership interests in property and infrastructure Co-Investments, Retirement Living and U.S. Military Housing.
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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