No Major Surprises in Macquarie’s 1Q20 Update. FVE AUD 135 Unchanged
Narrow-moat-rated Macquarie Group delivered an in line first-quarter fiscal 2020 trading update. The only minor surprise was the separation of the corporate and asset finance business and the subsequent merger of its individual operations into three other Macquarie business units. Macquarie confirmed satisfactory trading conditions in the quarter and our long held positive view on the firm’s successful international growth strategy is on track. Business unit interconnectedness, the focus on the ...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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