Power Financial Benefits From Market-Related Gains at Top-Holding Great-West Lifeco
No-moat Power Financial posted good first-quarter results, with market-driven gains at Great-West and IGM offsetting marginally higher corporate expenses. Though net earnings for the quarter were down 8.5% to CAD 536 million from CAD 586 million the year prior, Power saw a net earnings gain of 12% compared with the fourth quarter. On a per share basis, net earnings increased 8 cents, from $0.67 to $0.75. Adjusted net earnings at Pargesa were up significantly from negative CAD 53 million last qua...Power Financial is an international management and holding company that holds interests, directly or indirectly, in companies across the financial services, communications and other business sectors. Co. has three reportable operating segments: Great-West Lifeco Inc., which offers a range of life insurance, retirement, investment products, reinsurance and specialty general insurance products; IGM Financial Inc., which offers financial planning services, investment products, investment advisory and management services; and Parjointco N.V., which include specialty minerals, water, waste services, energy, wines and spirits. As of Dec 31 2010, Co. had total assets of C$143,255,000.
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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