Morningstar - Link Administration Holdings Ltd. (LNK) Sticky clients, industry growth and cost-out appeal, but Link carries integration risks.

Report

Morningstar

Nathan Zaia

EUR 147.86 For Business Accounts Only

Sticky clients, industry growth and cost-out appeal, but Link carries integration risks.

Link Administration Holdings listed in October 2015 at AUD 6.37 per share, and its share price has been on a tear ever since. Currently trading at AUD 8.50, it's up 33% since listing, and now trades at a 55% premium to our AUD 5.50 fair value. It is even more impressive considering the ASX All Ordinaries is down 1% over the period. We agree with the attractions in owning Link: recurring revenues; leverage to the growing Australian superannuation industry; sustainable competitive advantages deliv...

24/08/2016 12 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

Nathan Zaia

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Sticky clients, industry growth and cost-out appeal, but Link carries integration risks.

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

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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