Macquarie’s Diversified Global Businesses Set to Benefit from Structural Growth Opportunities
No-moat-rated Macquarie Group remains well placed to benefit from structural global growth opportunities, with earnings underpinned by a global, diversified business model delivering lower downside earnings volatility than global investment bank peers. But based on our unchanged AUD 89 fair value estimate, the stock is fairly valued with modest upside already priced into the stock price following a 25% run up since mid-2016. We like the global diversified business model, the reduced earnings vol...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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