Report
Greggory Warren, CFA
EUR 101.80 For Business Accounts Only

Narrow-Moat Invesco Continues to Offer Best Relative Value Among U.S.-Based Asset Managers

With the U.S. equity markets being more volatile of late, there have been opportunities for investors to start looking at the U.S.-based asset managers. The best time to buy these firms, in our view, is during market dislocations, since the group tends to go down 1.5 to 2.0 times any market decline. While these types of situations can offer up attractive entry points for our top two long-term ideas--wide-moat-rated BlackRock and T. Rowe Price--we generally find more value in other names in our c...
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
Greggory Warren, CFA

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