EV - Eaton Vance And Morgan Stanley Will Dominate Asset Management Post Merger
- Eaton Vance is an exceptionally strong business that will provide an important strategic boost to Morgan Stanley Investment Management after the pending acquisition is complete.
- While much of the asset management industry has been growing, Eaton Vance has been expanding. They had net inflows into their funds every year between 2010 and 2020.
- The current merger spread is too small to make it a worthwhile arbitrage. However, there is long-term investment potential in the platform.
- This deal also highlights three important overlapping trends in the asset management industry: (1) ESG Investing (2) Direct indexing and customized solutions (3) Increasing importance of retail investors.
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Eaton Vance And Morgan Stanley Will Dominate Asset Management Post Merger