Morningstar - Link Administration Holdings Ltd. (LNK) Links Underlying Fund Administration Growth Remains Strong Despite Short-Term Headwinds

Report

Morningstar

Gareth James

EUR 100.00 For Business Accounts Only

Link's Underlying Fund Administration Growth Remains Strong Despite Short-Term Headwinds

The Australian retirement, or superannuation, sector is undergoing significant change which has created uncertainty for narrow-moat-rated Link Group and partly explains the share price discount to our AUD 8.90 fair value estimate. However, we think the market is too focused on the expected account losses in fiscal 2020, due to new legislation, and that the long-term benefits for Link are being ignored.
Importantly, Link provides administration services to not-for-profit Industry funds which we e...

31/05/2019 13 EN

Underlying

Link Administration Holdings Ltd.

Link Administration Holdings provides technology-enabled outsourced administration services to companies, asset owners, and trustees in Australia. Co. operates through Fund Administration, Corporate Markets, and Information, Digital, and Data Services segment. The Fund Administration segment provides administration services to superannuation funds; Corporate Markets offers a comprehensive and integrated corporate market offering that connects issuers with their stakeholders; and Information, Digital, and Data Services provides core services of development and maintenance of proprietary IT systems and platforms.

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AU000000LNK2 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

Gareth James

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Link's Underlying Fund Administration Growth Remains Strong Despite Short-Term Headwinds

With a more favourable environment, LINK ADMINISTRATION improves to Slightly Positive

Link Administration Holdings Limited: 1 director

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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