Perpetual’s 3Q18 Funds Under Management Disappoint, Resulting in New FVE of AUD 48.50
Narrow-moat-rated Perpetual Limited reported disappointing third-quarter funds under management with another quarter of net outflows in the key investments business. First-half fiscal 2018 results were in line with our expectations, but the reduction in FUM decreases our second-half fiscal 2018 forecasts, reducing fiscal 2018 underlying net profit after tax to AUD 137 million from AUD 143 million previously, and our fiscal 2019 forecast to AUD 133 million from AUD 147 million. We also cut our Au...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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