Power Corporation of Canada derives its value from Great-West and IGM Financial.
Nothing in either Great-West's or IGM Financial's results alters our long-term view of no-moat Power Corporation. For the quarter, Power Financial reported adjusted net earnings of CAD 347 million, compared with CAD 401 million last year, due mainly to losses in the Sagard Investment Funds. We will maintain our CAD 35 fair value estimate.Great-West’s second quarter largely saw the company holding steady, with overall adjusted annualized return on equity of 14% essentially flat with last year, a...
Power is a holding company with interests in companies that are active in the financial services, communications and other business sectors. Co. operates in four segments: Great-West Lifeco Inc., which offers a range of life insurance, retirement and investment products, as well as reinsurance and specialty general insurance products; IGM Financial Inc., which offers financial planning services and investment products to its client base; Parjointco N.V., which holds interests in companies based in Europe active in various sectors, including specialty minerals, water, waste services, energy, and wines and spirits; and Other, which is made up of corporate activities of Co.
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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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