Investment Managers' Earnings On Nov 2: PSEC, OMAM, GBL
Zacks Investment Research | Oct 31, 2016 09:23PM ET
Investment management industry, part of the broader Finance sector, has performed decently over the past several quarters. A modest performance of equity markets in the recent months was the key driver. In fact, post Brexit, majority of the industry participants have witnessed a notable rise in average assets under management (AUM).
Results of the investment management companies, which have already reported their third-quarter numbers, reflect this trend with favorable asset growth and strong trading activity.
However, the recently heightened regulatory restrictions have created a challenging backdrop for the traditional asset managers. Also, equity markets became volatile towards the end of the quarter, raising concerns regarding future prospects of the industry as a whole.
On the other hand, per our the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here .
Also, the company boasts a decent earnings surprise history. The stock has outpaced the Zacks Consensus Estimate in two of the trailing four quarters, recording an average positive earnings surprise of 1.7%.
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