Magellan Financial Group’s Institutional Flows Picking Up Retail Flow Slack; AUD 27 FVE Unchanged
Narrow-moat-rated Magellan Financial Group heads into the close of fiscal 2018 with assets under management, or AUM, of about AUD 67 billion--approximately 30% higher than year-end fiscal 2017. We adjust our forecast AUM upwards to incorporate recent market performance and fund flow trends; however, our fair value estimate is unchanged at AUD 27. The stock is currently undervalued, trading approximately 16% below our valuation.A higher proportion of lower-margin wholesale AUM flows relative to ...
Magellan Financial Group is engaged in funds management, providing international investment funds to high net worth and retail investors in Australia and New Zealand, and institutional investors globally. Co.'s main operating company is Magellan Asset Management Limited (MAM). Co.'s key operating segments are: Funds Management, in which MAM undertakes the funds management activities and MFG Services LLC acts as a service company providing MAM with services of investment analysts and distribution personnel; and Principal Investments, which include investments in the ASX Quoted Funds, the Unlisted Magellan Funds, and a select portfolio comprising Australian and international listed companies.
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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