As Expected, Macquarie’s Strong Earnings Growth Slows, But Valuation Still Attractive
Macquarie Group, Australia’s largest global asset manager, did not surprise with its first-quarter fiscal 2017 trading update. The six operating groups are performing in line with expectations for the three months to 30 June 2016. Operating group profit is not disclosed, but Macquarie confirmed first-quarter fiscal 2017 is down on the strong first-quarter fiscal 2016, but higher than fourth-quarter fiscal 2016. Importantly, fiscal 2017 guidance is unchanged with group guiding for net profit “bro...Macquarie Group is non-operating holding company. Through its subsidiaries, Co. provides banking, financial, advisory, investment and funds management services. Co.'s principal activities include distribution and manufacture of funds management products; trading in fixed income, equities, currency, commodities and derivative products; corporate and structured finance, advisory, underwriting, facilitation, broking and real estate/ property development; and banking activities, mortgages and leasing. As of Mar 31 2016, Co. had total assets of A$196.76 billion and total deposits of A$52.25 billion.
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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