Moats for the U.S.-Based Asset Managers Are Narrowing; Stick With BlackRock and T. Rowe Price
For much of the past decade, the traditional U.S.-based asset managers have benefited from a bull market in equities, which has helped to lift AUM levels for most firms. Concerns about that bull market run ending sooner rather than later, and ongoing pressures from poor active-equity investment performance and the growth and acceptance of low-cost index-based products (which have not only impacted organic growth but have also raised questions about fee and margin compression longer term), have l...Waddell & Reed Financial is a holding company. Through its subsidiaries, the company provides investment management and advisory services, investment product underwriting and distribution, and shareholder services administration to the Ivy Funds,Ivy Variable Insurance Portfolios, InvestEd Portfolios, Ivy High Income Opportunities Fund, and institutional accounts. The company also provides wealth management services, primarily to retail clients through Waddell & Reed, Inc. (W&R), and independent financial advisors associated with W&R, who provide financial planning and advice to their clients.
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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