There is no new trading information. We revisit our forecast positioning in light of market movements and US Election outcome. We believe industry trends are positive – an increasing propensity to seek advice/invest irrespective of uncertainty. We make no changes to estimates, but should these trends continue we see potential upside. MW has strong earnings quality (90%+ recurring revenue, 50%+ revenue not linked to value of assets) which is deserving of a premium. We note strengthening of the Cu ....


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Improving backdrop driving new business activity
- Published:
16 Dec 2020 -
Author:
Andrew Watson -
Pages:
3 -
There is no new trading information. We revisit our forecast positioning in light of market movements and US Election outcome. We believe industry trends are positive – an increasing propensity to seek advice/invest irrespective of uncertainty. We make no changes to estimates, but should these trends continue we see potential upside. MW has strong earnings quality (90%+ recurring revenue, 50%+ revenue not linked to value of assets) which is deserving of a premium. We note strengthening of the Cu ....