Report
Brett Horn, CFA
EUR 101.80 For Business Accounts Only

Manulife emphasizes mutual funds and retirement services to diversify its product mix.

Manulife once again turned in a solid quarter with its third-quarter results. Core return on equity was 10.6%, up 80 basis points year over year, but down 90 basis points sequentially. That said, the firm’s latest results are more or less in line with our long-term return on equity assumption of just over 10% and do not alter our fundamental view of the no-moat firm. Reported net income attributable to shareholders dipped 1% year over year. On a pretax basis, core earnings rose 11.7% year over y...
Underlying
Manulife Financial Corporation

Manulife Financial is a provider of financial protection and wealth management products and services, including individual life insurance, group life and health insurance, long-term care insurance, pension products, annuities and mutual funds to individual and group customers in Asia, Canada and the United States. Co. also provides investment management services with respect to Co.'s general fund assets, segregated fund assets, mutual funds, and to institutional customers. Co. also offers reinsurance services, specializing in property and aviation catastrophe risk reinsurance products.

Provider
Morningstar
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.

Analysts
Brett Horn, CFA

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