Perpetual Result Meets Expectations as Markets Weigh on Earnings. No Change to Fair Value
Equity market volatility has not provided the most accommodative backdrop for active equity fund managers recently, but Perpetual Limited has ridden out fiscal 2016 well. Narrow moat-rated Perpetual's fiscal 2016 underlying profit beat our forecasts, declining 4% to AUD 128.2 million on a 1% fall in revenue. In a classification change worth noting, gains or losses made on the disposal of Perpetual's seed fund investments are now included in underlying profit. Excluding these adjustments, net pro...Perpetual is engaged in funds management, portfolio management, financial planning, trustee, responsible entity and compliance services, executor services, investment administration and custody services. Co. operates in three segments: perpetual investments, which is a manufacturer of financial products, management and investment of monies on behalf of private, corporate, superannuation and institutional clients; perpetual private, which provides a range of investment and non-investment products and services; and perpetual corporate trust, which provides fiduciary services incorporating safe-keeping and recording of assets and transactions as custodian.
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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