HOUSE_OVERSIGHT_014323.jpg
1.34 MB
Extraction Summary
0
People
4
Organizations
1
Locations
2
Events
0
Relationships
1
Quotes
Document Information
Type:
Financial conference presentation / report page
File Size:
1.34 MB
Summary
This document is a page from a Bank of America Merrill Lynch presentation for the '2016 Future of Financials Conference' held on November 17, 2016. It analyzes investor sentiment regarding the 2017 financial industry outlook, focusing on the expected impacts of the 2016 US election results on alternative asset managers and the consumer finance sector. The document contains no mention of Jeffrey Epstein, his associates, or any related activities.
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Bank of America Merrill Lynch |
Author of the report and host of the conference.
|
|
| BofA Merrill Lynch Global Research |
Cited as the source for the charts and research.
|
|
| AXP |
Mentioned in the 'Specialty / Consumer finance Takeaways' section, likely referring to American Express, presenting a...
|
|
| HOUSE_OVERSIGHT |
Appears as a document identifier ('HOUSE_OVERSIGHT_014323'), suggesting the document is part of a collection submitte...
|
Timeline (2 events)
17 November 2016
2016 Future of Financials Conference, where this report was likely presented.
Locations (1)
| Location | Context |
|---|---|
|
Mentioned in the context of the US consumer market outlook for 2017.
|
Key Quotes (1)
"What is the most likely impact from the election results on the alternative asset managers?"Source
HOUSE_OVERSIGHT_014323.jpg
Quote #1
Full Extracted Text
Complete text extracted from the document (1,795 characters)
Chart 13: Where do you think distributions for the industry will be in 2017 vs. 2016?
40%
37%
37%
35%
30%
25%
21%
20%
15%
10%
5%
5%
0%
Roughly flat
Up 5-15%
0%
Up 15%+
Down 5-15%
Down 15%+
Source: BofA Merrill Lynch Global Research
40%
37%
37%
35%
30%
25%
21%
20%
15%
10%
5%
5%
0%
Roughly flat
Up 5-15%
0%
Up 15%+
Down 5-15%
Down 15%+
Source: BofA Merrill Lynch Global Research
Election results could have far reaching impacts for the sector
When asked "What is the most likely impact from the election results on the alternative asset managers?" investors were fairly mixed in their responses, indicating to us that investors expect a number of changes. The most common response was increased tax on carried interest (33%), followed by higher rates impacting financing costs and some returns (27%), then stronger economic growth and healthy returns (20%). Few investors expect a decrease in bank regulation slowing alternative manager growth in new areas (13%) along with too much euphoria leading to a market correction (7%).
When asked "What is the most likely impact from the election results on the alternative asset managers?" investors were fairly mixed in their responses, indicating to us that investors expect a number of changes. The most common response was increased tax on carried interest (33%), followed by higher rates impacting financing costs and some returns (27%), then stronger economic growth and healthy returns (20%). Few investors expect a decrease in bank regulation slowing alternative manager growth in new areas (13%) along with too much euphoria leading to a market correction (7%).
Chart 14: What is the most likely impact from the election results on the alternative asset managers?
40%
35%
30%
25%
20%
20%
15%
10%
5%
0%
33%
27%
13%
7%
Stronger economic growth and healthy returns for the alternative managers
Increased tax rate on carried interest
Higher rates impacting financing costs and some returns
Decreased bank regulation potentially slowing growth in new areas
Too much euphoria leading to a market correction and deployment opportunities
40%
35%
30%
25%
20%
20%
15%
10%
5%
0%
33%
27%
13%
7%
Stronger economic growth and healthy returns for the alternative managers
Increased tax rate on carried interest
Higher rates impacting financing costs and some returns
Decreased bank regulation potentially slowing growth in new areas
Too much euphoria leading to a market correction and deployment opportunities
Source: BofA Merrill Lynch Global Research
Specialty / Consumer finance Takeaways
Companies were generally bullish on the US consumer heading into 2017. AXP presented a fairly upbeat outlook on billings, loan and revenue growth, while cautioning that Discount rate pressures and FX headwinds could impact near-term results. The
Companies were generally bullish on the US consumer heading into 2017. AXP presented a fairly upbeat outlook on billings, loan and revenue growth, while cautioning that Discount rate pressures and FX headwinds could impact near-term results. The
Bank of America
Merrill Lynch
Merrill Lynch
2016 Future of Financials Conference | 17 November 2016 9
HOUSE_OVERSIGHT_014323
Discussion 0
No comments yet
Be the first to share your thoughts on this epstein document