Macquarie Group Ltd
MQG: XASX (AUS)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| RBZ | LOCK|>#D^ | LOCK|<JT@V$C> |
Macquarie Group's Diversity Helps Smooth Earnings From Lumpy and Cyclical Divisions
Business Strategy and Outlook
Macquarie Group is a global asset manager that spent decades branching out from its Australian investment banking roots. Asset management provides more recurring revenue streams compared with transaction-based investment banking, but still carries volatility, as base management fees are tied to underlying asset values--primarily fixed income, equities, and infrastructure assets.
