Solid organic growth and limited fee compression leave T. Rowe Price better positioned than peers.
It's been a difficult year for the U.S.-based asset managers, with the 12 firms we cover down close to 20% on average since the start of 2018, compared with a nearly 8% price gain for the S&P 500 index. While valuations have become depressed across the group, they've also bifurcated between perceived "haves"--wide-moat-rated BlackRock and T. Rowe Price and narrow-moat-rated Eaton Vance and Cohen & Steers--which are generating above-average rates of organic growth and operating margins (a...T. Rowe Price Group is a financial services holding company that provides global investment management services. The company provide a range of United States mutual funds, subadvised funds, separately managed accounts, and other T. Rowe Price products. The company also provides certain investment advisory clients with related administrative services, including distribution, mutual fund transfer agent, accounting, and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; brokerage; and trust services. The company also provide non-discretionary advisory planning services to fund shareholders and potential investors.
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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