Adviser Workstation Training Day – One Week to Go

by Alexander Wells on 08 Nov 2017

On Wednesday November 15th we are running a training day at our London office on City Road for Morningstar Adviser Workstation.

For more details, please view the agenda here, and if you have not already registered, please contact us via adviser@morningstar.co.uk to reserve your place.

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Posted in: Events, Morningstar,

The 2017 Morningstar UK Investment Conference is nearly upon us!  Please click the banner below for further detailsMorningstar Investment Conference 2017

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Posted in: Events, Morningstar,

Morningstar Investment Conference 2014

by Alexander Wells on 11 Sep 2014

Click the video below to see some highlights from the Morningstar Investment Conference 2014

https://vimeo.com/morningstarvideo/review/98957953/2850cbf4ff

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Posted in: Events, IFA News and Commentary, Morningstar, Research, Video,

We Answer All Your ETF Questions

by Jon Standring on 17 Apr 2013

UPCOMING WEBINAR: Our ETF experts are ready to answer your ETF questions, no matter how basic or complex

Each month, Morningstar’s ETF experts host a free, online webinar to help professional investors learn more about, and make the most of, exchange-traded products.

This month, the European ETF team will be answering all your ETF questions, no matter how big or small from 3pm on April 24th.

Submit your questions to Hortense Bioy, Jose Garcia-Zarate, Al Kellett and Gordon Rose in advance by emailing ETFQueries@morningstar.com, or you can ask your questions live on the day via the BrightTALK webinar platform.

We’ve already received several questions that will be addressed during the webinar, including how dividends are treated within ETFs and what impact this could have on their performance; what costs are associated with ETFs beyond the total expense ratio; how to tell how actively traded an ETF is; and how to decide which ETF to buy when faced with several products tracking the same index.

Register to attend this free webinar here.

The webinar will take place on April 24th, 3-4pm UK time.

Missed our previous webinars? Catch up here.

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Posted in: Events, IFA News and Commentary, Morningstar, Webinar,

An Opportunity to See a Fund Manager ‘In Action’

by Caroline Gutman on 07 Mar 2013

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MIC PREVIEW: Tim Steer will provide a sneak peek into how he grills CEOs when considering an investment in a company

Tim Steer won’t buy a stock without meeting company executives.

Tim Steer is manager of the Artemis UK Growth fund and he also runs institutional mandates including the Artemis UK Hedge Fund. He has been at Artemis since mid-2009 having previously managed the UK Alpha fund at New Star. Having first qualified as a chartered accountant he started his investment career as a small-cap analyst for Merrill Lynch and HSBC.

Steer’s Artemis UK Growth fund has a Bronze Morningstar OBSR Analyst Rating. In that fund he uses his accountancy background to analyse each company’s accounts in detail, which he believes can reveal much about its current state and offer a guide to its future potential. In particular, he pays significant attention to the finer detail in accounts, concentrating specifically on the use of provisions, cash flow, revenue recognition, debtors and debtor levels. The investment process is wide ranging and also includes a qualitative rating tool.

Within the investment process he emphasises meeting and gaining a thorough knowledge of a company’s management; indeed he won’t buy a stock without meeting executives. In that context it will be interesting to see Steer interview a CEO from a FTSE company at the Morningstar Investment Conference this May. It will provide an insight, both in terms of what information Steer is looking to gain from the CEO, and in terms of how the CEO views the company’s recent performance and the opportunities going forward. It is a rare opportunity to see a fund manager “in action” and should be an informative and entertaining session.

Tim Steer will be one of many UK investment luminaries speaking at the Morningstar Investment Conference in London this May. See the Morningstar corporate site for more information.

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Posted in: Events, IFA News and Commentary, Morningstar, Morningstar OBSR Commentary, Research,

Why Invest in a Portfolio of ‘Boring’ Companies?

by Caroline Gutman on 26 Feb 2013

By Ruli Viljoen
 
MIC PREVIEW: Ahead of Morningstar’s Investment Conference in London, we look ahead to what to expect from guest speaker Terry Smith

Terry Smith is a well-known personality in the finance industry, having headed up a number of FTSE companies, including Tullet Prebon (TLPR), for which he is currently the CEO. He is an original thinker and has often demonstrated his willingness to bet against the crowd. In November 2010 he launched the 

FundSmith Equity fund, rated Bronze by Morningstar OBSR analysts, which seeks to invest in high quality businesses whose assets are intangible and difficult to replicate, thereby compounding in value over the years. These stocks are often referred to as high quality businesses and are most commonly found in some of the more defensive sectors. Understandably, many of these companies have performed well in recent years in both relative and absolute terms and investors have preferred the safety and predictability of their earnings streams. The question that has consequently often been asked, is whether or not they remain attractive from a valuation stand-point?

Smith considers “value” in a number of different ways, one of which is to compare the companies’ Free Cash Flow (FCF) yield with the normalised yield over time on the long bond. If Smith & Co. can purchase stocks that have a FCF yield equal to or greater than the long bond yield, and that have free cash flows that can grow over time, he believes they  are getting good value—certainly relative to the so-called ‘risk-free rate’ and possibly even in absolute terms.

Using these metrics, Smith argues that the companies in their portfolio are higher quality than the market, based on their return on capital, and have FCF and dividend yields in excess of the market and the long bond. He also strongly believes that these cash flows and dividends will continue to grow. We look forward to hearing his thoughts on why it remains appropriate to continue investing in a portfolio of so-called ‘boring’ companies and what likely outcome investors may anticipate.

Terry Smith will be one of many UK investment luminaries speaking at the Morningstar Investment Conference in London this May. See the Morningstar corporate site for more information.

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Posted in: Events, IFA News and Commentary, Morningstar, Research,

We’ve just announced the agenda for this year’s UK Morningstar Investment Conference, May 14-15, which you can view here: http://bit.ly/MICUK2013 

Registration is also now open: http://bit.ly/MICUKinfo

We look forward to seeing you there!

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Posted in: Events, IFA News and Commentary, Morningstar,

FSA Highlights from the Adviser Forums

by ageorgi on 12 Oct 2012

This week we ran the second of our Adviser Forums where we were joined by the FSA who outlined what is expected from advisers post RDR.   We had a great turn out at both events, with 60 advisers joining us in Edinburgh and 62 in London. Colin Wilcox of the FSA outlined the requirements of professional standards, and talked about the scope of service advisers would provide.  When the advisers in the room were asked if they were likely to go Restricted or Independent, the majority at both events stated Independent – this is very different to what the press is telling us.  There was discussion on how independents would provide a fair and comprehensive analysis of the market and having just seen the capabilities of Adviser Workstation, the FSA said that with tools like AWS and others like it, it was very clear that this type of analysis is achievable.  The FSA highlighted that there is not an issue with the implementation of a Central Investment Proposition, as long as the advice given was suitable for the client.  It seems to me that using models works really well as long as you are also in a position to research alternatives if the models are not suitable for the client.

The FSA talked about their expectations for Adviser Practices to have client centric propositions that work for your individual businesses and the importance of having the right controls in place to deliver that proposition.  From the Q/A session that took place after the presentation, it’s crucial for advisers to have systems in place that can back up their proposition and help action and review the advice given.  One of the questions came from an adviser who asked how much depth is required in terms of analysis, and he wanted to know if it was necessary to understand the underlying holdings funds are invested in – the answer was yes.  This is the type of analysis where AWS can provide you with the answer in seconds.  My view is that technology will assist advisers in putting those business controls in place and providing the all important audit trail on  how decisions have been made and ensuring that the recommended investments continue to be suitable for the  client.

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Posted in: Events, IFA News and Commentary, Morningstar,

2013 Morningstar Investment Conference

by nshattock on 03 Oct 2012

Next year, the 7th annual Morningstar Investment Conference will take place on the 14 and 15 May 2013 at the Park Plaza Riverbank Hotel in London.

At next year’s event you can expect to see an agenda focused around educational insight covering a broad range of investment-based topics.

For a look at the 2012 event, please click here

To register your interest and to receive updates, please complete a short form

Or visit our website

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Posted in: Events, IFA News and Commentary, Marketing, Morningstar,

Upcoming AIC Training Seminars

by Caroline Gutman on 04 Sep 2012

The AIC will be hosting a number of training seminars on closed-end funds over the next three months around the UK. The agenda for the seminars will include how to research investment companies – 10 key issues to consider, an analyst/manager’s overview of the investment company sector and the current opportunities, a platform update and a Q&A panel. Speakers will include: Jacqueline Lockie, the AIC’s Training Manager, Annabel Brodie-Smith, the AIC’s Communications Director, investment company analysts/managers, platform representatives. CPD points are available for these sessions from the CII, CISI and IFP and advisers need to individually highlight what gaps the training fulfils.

For more information, visit: http://www.theaic.co.uk/Adviser-Centre/AIC-adviser-training-seminars/

Upcoming events:

Exeter
Thursday 13 September 2012 9.30am – 12.30pm
View event details

Bristol
Friday 14 September 2012 9.30am – 12.30pm
View event details

Leeds
Thursday 27 September 2012 9.30am – 12.30pm
View event details

Manchester
Friday 28 September 2012 9.30am – 12.30pm
View event details

Brighton
Thursday 1 November 2012 9.30am – 12.30pm
View event details

Southampton
** Friday 2 November 2012
 **9.30am – 12.30pm
View event details

Glasgow
Thursday 15 November 2012 9.30am – 12.30pm
View event details

Edinburgh
Friday 16 November 2012 9.30am – 12.30pm
View event details

 

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Posted in: Events, IFA News and Commentary, Morningstar,