A Strong Rebound in Markets Sees Modest 2.5% Uplift to Perpetual’s Fair Value Estimate
A major rebound in Australia’s equity market from its precipitous fall in the December 2018 quarter sees a moderate uplift in narrow-moat Perpetual’s fair value estimate to AUD 37.20 per share from AUD 36.30. Australia’s All Ordinary Index has staged a strong comeback since its precipitous circa 10% fall in the December 2018 quarter to be currently about 8% higher. Higher markets than we previously expected should see improved earnings in the second half of fiscal 2019 from the disappointing fir...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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