Report
Brett Horn, CFA
EUR 101.80 For Business Accounts Only

Manulife’s Shifting Portfolio Mix Will Color Capital Allocation in 2018

Nothing in no-moat-rated Manulife’s fourth-quarter results was particularly surprising to us. Core earnings for the fourth quarter decreased year over year by 6% to CAD 1.2 billion. The decrease in core earnings was due, among other things, to a tougher comparison, with higher core investment gains in the fourth quarter of 2016. Other impacts to core earnings included a CAD 142 million release of provisions for uncertain tax positions during the fourth quarter, which we consider a one-time item....
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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