** Shares of Australia's Insignia Financial IFL.AX fall 1.1% to A$3.57
** The investment manager on Friday received a $1.70 bln takeover bid from private equity firm Bain Capital
** Analysts at Morgan Stanley consider the local prudential regulator, APRA, to be crucial as Insignia has a strong hold on the broader superfund market
** Says offers place IFL on the same trading multiples as peer AMP AMP.AX, with the latter having a stronger balance sheet, better flows and proven cost-control story
** Brokerage has a current "under-weight" view on IFL, premised on its wealth outflows, with several platform integrations elevating outflow risks plus placing pressure on free cash flows
** Stock has risen 54.3% this year, as of last close
(Reporting by Rishav Chatterjee in Bengaluru; editing by Diane Craft)
((Rishav.Chatterjee@thomsonreuters.com;))
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。