Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We 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 more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 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, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

The decision by OPEC to cut production is certain to have a material impact on short-term oil and energy share prices.This brief report aims to address what we believe are the key supply aspects underpinning 2017-18 fundamentals. Our aim is to assist long-term investors with making sense of the implications of whatever supply strategy OPEC ultimately decides to pursue. Whatever strategy is decided upon, the short-term nature of any production cuts and the long-term problem for oil prices that is U.S. shale means our bearish $55/barrel West Texas Intermediate, or WTI, long-term price outlook will not be changing.Analyst: Stephen Simko, CFA

The decision by OPEC to cut production is certain to have a material impact on short-term oil and energy share prices.This brief report aims to address what we believe are the key supply aspects underpinning 2017-18 fundamentals. Our aim is to assist long-term investors with making sense of the implications of whatever supply strategy OPEC ultimately decides to pursue. Whatever strategy is decided upon, the short-term nature of any production cuts and the long-term problem for oil prices that is U.S. shale means our bearish $55/barrel West Texas Intermediate, or WTI, long-term price outlook will not be changing.Analyst: Stephen Simko, CFA 

Cold Water: An OPEC Cut Can't Fix Oil's Structural Issues

Chief Investment Officer, KIS Capital Partners

Josh Best

Chief Investment Officer

Boutique absolute return fund manager

KIS Capital Partners

KIS Capital Partners is a boutique absolute return fund manager based in Sydney, Australia with an Asia ex Japan trading focus. We believe that an absolute return fund should be risk and performance focused with strong attention to investment differentiation. Absolute return funds should not be asset gatherers. We invest alongside our clients in liquid and transparent markets with a focus on pragmatic and vigilant risk management.

Equity Bottom-Up

A <a href="http://www.reuters.com/article/us-autos-emissions-germany-idUSKCN1280G7" target="_blank">recent legislatorial update from Germany</a>, proposing to ban the sale of new combustion engine vehicles by 2030, can’t help but remind us of the following video and the consequences it bears for global markets:For a more detailed discussion of EVs, including their inevitable market saturation, refer to the KIS Capital research paper: <a href="https://www.smartkarma.com/insights/why-the-car-you-currently-own-is-the-last-car-you-will-ever-buy" target="_blank" data-smartkarma-citation="insights:5272">Why the Car You Currently Own Is the Last Car You Will Ever Buy</a>. If you subscribe to this vision of the future, the long-term implications for ASX-listed <a href="https://www.smartkarma.com/entities/345" target="_blank" data-smartkarma-citation="entities:345:1">Caltex</a>…

A recent legislatorial update from Germany, proposing to ban the sale of new combustion engine vehicles by 2030, can’t help but remind us of the following video and the consequences it bears for global markets:For a more detailed discussion of EVs, including their inevitable market saturation, refer to the KIS Capital research paper: Why the Car You Currently Own Is the Last Car You Will Ever Buy. If you subscribe to this vision of the future, the long-term implications for ASX-listed Caltex…

CALTEX: First Casualty of the Electric Vehicle

Director - Research, Consulting and Advisory, BondAdviser

Nicholas Yaxley

Director - Research, Consulting and Advisory

Australian bonds & fixed income research

BondAdviser

BondAdviser is the central reference point for intelligent information on Australian fixed income markets. We help you make informed decisions by providing unbiased research, transparent pricing data, analytics, portfolio tools and education.

BondAdviser has the broadest coverage of retail-accessible ASX-listed and over-the-counter Australian bonds and fixed income securities. We make it easy for you to review and compare investments before you place an order with your broker or dealer.

Credit

Back in February 2016, trading margins of ASX-listed hybrid securities widened significantly. As a result, there were a number of attractive investment opportunities and following a relatively stable reporting season and shift in sentiment, margins began to retrace. While on the surface it appears margins are still tracking well relative to February, a more suitable performance measure would be to calculate the cumulative change to see if investors have recovered the losses endured at start of…

Back in February 2016, trading margins of ASX-listed hybrid securities widened significantly. As a result, there were a number of attractive investment opportunities and following a relatively stable reporting season and shift in sentiment, margins began to retrace. While on the surface it appears margins are still tracking well relative to February, a more suitable performance measure would be to calculate the cumulative change to see if investors have recovered the losses endured at start of…

Hybrids: Have We Recovered Since February?

EM PM, Ecstrat

Emad Mostaque

EM PM

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

This piece highlights my recent proposal for a mechanism to solve the enforceability and adaptability issues faced by OPEC in their proposed production cuts and provides some worked examples of how the Tactical Petroleum Fund would work in practice for Smartkarma readers.

This piece highlights my recent proposal for a mechanism to solve the enforceability and adaptability issues faced by OPEC in their proposed production cuts and provides some worked examples of how the Tactical Petroleum Fund would work in practice for Smartkarma readers.

The BondAdviser Corporate Hybrid Handbook 2017 is designed to be a useful reference for ASX-listed corporate hybrid securities and the credit profiles of their underlying issuers. We believe there are a number of attractive investment opportunities across different corporate industries.Corporate hybrids are overshadowed in a market dominated by banks and other financial institutions. As a result, many investors fail to reap the diversification benefits that non-financial issuers offer in a balanced portfolio. While bank and other financial hybrids are often driven by macro-economic, regulatory and/or political themes and trends, corporate hybrids warrant a more case-by-case approach which promotes diversification. For this reason, corporate hybrids should not be overlooked.Given the ‘lower-for-longer’ interest rate environment, the search for yield is becoming an increasingly difficult task. While hybrids continue to be an attractive option to boost income, they are not without inherent risks.

 The BondAdviser Corporate Hybrid Handbook 2017 is designed to be a useful reference for ASX-listed corporate hybrid securities and the credit profiles of their underlying issuers. We believe there are a number of attractive investment opportunities across different corporate industries.Corporate hybrids are overshadowed in a market dominated by banks and other financial institutions. As a result, many investors fail to reap the diversification benefits that non-financial issuers offer in a balanced portfolio. While bank and other financial hybrids are often driven by macro-economic, regulatory and/or political themes and trends, corporate hybrids warrant a more case-by-case approach which promotes diversification. For this reason, corporate hybrids should not be overlooked.Given the ‘lower-for-longer’ interest rate environment, the search for yield is becoming an increasingly difficult task. While hybrids continue to be an attractive option to boost income, they are not without inherent risks. 

Australia

Ampol Limited provides petroleum products. The Company offers petrol and convenience network as well as refining, importing, and marketing fuels and lubricants. Ampol serves defence, mining, transport, marine, agriculture, aviation, and other commercial sectors in Australia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ampol (ALD AU)

Cold Water: An OPEC Cut Can't Fix Oil's Structural Issues

The decision by OPEC to cut production is certain to have a material impact on short-term oil and energy share prices.This brief report aims to...

Morningstar, Inc.

CALTEX: First Casualty of the Electric Vehicle

A recent legislatorial update from Germany, proposing to ban the sale of new combustion engine vehicles by 2030, can’t help but remind us of the...

KIS Capital Partners

Hybrids: Have We Recovered Since February?

Back in February 2016, trading margins of ASX-listed hybrid securities widened significantly. As a result, there were a number of attractive...

BondAdviser

How to Fix Oil Prices

This piece highlights my recent proposal for a mechanism to solve the enforceability and adaptability issues faced by OPEC in their proposed...

Emad Mostaque

Corporate Hybrids Handbook 2017

The BondAdviser Corporate Hybrid Handbook 2017 is designed to be a useful reference for ASX-listed corporate hybrid securities and the credit...

BondAdviser

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)