Sun Life Maintains Course in First Quarter
Overall, we think Sun Life’s first quarter was solid, and it largely showed a continuation from results in recent quarters. The annualized underlying ROE of 13% in the quarter is a good result, in our view, but we continue to believe that the company lacks a moat. We will maintain our fair value estimates of CAD 51 and $39.Sun Life’s performance in its mature markets, Canada and the U.S., was mixed. Underlying net income in Canada dipped 20% year over year, while it increased 16% in the U.S. Ho...
Sun Life Financial is a holding company. Through its subsidiaries, Co. is an international financial services organization providing a range of protection and wealth accumulation products and services to individuals and corporate customers in Canada, the U.S., the U.K., Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam and Bermuda. Co. manages its operations in four business segments: Sun Life Financial Canada, Sun Life Financial United States, MFS Investment Management and Sun Life Financial Asia.
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.
We have operations in 27 countries.
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