Netwealth Remains Overvalued as Weak Financial Markets Impact 2Q
Netwealth continues to generate strong asset growth, but the 8% increase in funds under management and administration, or FUMA, in the first quarter to AUD 22 billion was in line with our forecasts. We expect strong FUMA growth to continue but at a moderating rate as the business matures. Although current FUMA is up 42% over the past 12 months, this includes two particularly strong quarters and we continue to expect a 30% growth rate over fiscal 2019. Importantly, we also expect fee compression ...New Tel Limited. Develops and sells mobile data communications products and advanced engine enhancement componentry which included the Transcom Natural Gas Vehicle System (NGVS) and Sprintex Supercharger products. Telecommunications accounted for 93% of fis 2001 revs; Vehicle Engine Systems, 7%.
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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