Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Google Inc    GOOGL

GOOGLE INC (GOOGL)
Mes dernières consult.
Most popular
  Report  
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

TIP SHEET: Manning & Napier Fund Into Selective Equities

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/13/2012 | 09:15pm CEST

--Moderately overweight on equities

--Favors stocks whose growth prospects not heavily reliant on Europe, macroeconomic environment

--Increases exposure to Google, Amazon, Time Warner

 
   By Amy Or 
   Of  
 
 

January's equities rally may have prompted some investors to pile back into the asset class, but Manning & Napier's investment manager is cautious, especially regarding what to buy.

"We are biased towards companies that have unique growth drivers that would divorce them from what's going on in Europe," said Christian Andreach, co-head of global equities at Manning & Napier, and one of several managers of the Pro-Blend Extended Term Series (MNBAX). "We'd like to see rotation into companies that have compelling and identifiable growth tailwinds and are not dependent on government spending and cyclical consumer spending. In other words, companies who control their own destiny."

Equities indices, like the S&P 500 and the Dow Jones Industrial Average, have risen about 5% so far this year and in a rather stable trajectory, as investors shift their focus onto company fundamentals and away from the global economic slowdown and Europe's sovereign debt crisis. The rally prompted a few seasoned managers to preach the benefits of owning stock.

Last week, money manager BlackRock Inc. (>> BlackRock, Inc.) Chief Executive Larry Fink said he thinks investors should "be 100% invested in equities" on their low valuations and high dividend yields, while billionaire investors Warren Buffett said owning equities are far better over the long term than bonds or gold--two assets that "enjoy maximum popularity at peaks of fear."

The Pro-Blend Extended Term Series doesn't have as aggressive an attitude toward equities like some seasoned investment managers. It is a $1.2 billion lifestyle fund which receives a four star rating from Morningstar and three stars from S&P Capital IQ. It is moderately overweight with a 58% allocation to equities. Bonds, principally intermediate-term fixed income instruments, account for just over a third of the assets. The fund has a mandate to keep equities within the 40%-70% range.

"There's no real big asset allocation call," Andreach said.

Prudent stock selection, coupled with infrequent stock turnover, allowed the fund to consistently outperform peers. In a 3-year timeframe, the fund was up 14.4% over other asset allocation funds' 13.7%, S&P Capital IQ said. The margin widened to one percentage point when considering performance over the last 10 years. In a 5-year timeframe, the fund was up 2.93%, 0.85 percentage points better than its category.

Catering to investors with a seven to 20 year investment horizon, the fund has recently increased exposure to names like Google Inc. (>> Google Inc), Amazon.com Inc. (>> Amazon.com, Inc.) and Time Warner Inc. (>> Time Warner Inc.), believing these companies have excelled in their traditional business, and have much room for growth providing media content.

"Content becomes much more valuable. The days of a cable company just making money off laying the cable lines are over," he said. "Time Warner has tremendous media content, 10% free cash flow yield and growth in their ability to command higher pricing."

S&P Capital IQ mutual fund analyst Todd Rosenbluth said many of the stocks the fund holds, including Time Warner, Walt Disney Co. (>> The Walt Disney Company) and Hess Corp. (>> Hess Corp.), are undervalued stocks that are very attractive in this low interest rate environment.

But Rosenbluth said compared to peers, Manning & Napier's fund generates less income.

"Google, for example, is not a dividend paying stock," he said. "Also, the fund has more equities than peers, resulting in less yield."

Andreach said its fund would be a good fit to investors whose "retirement, while not an immediate concern for them, is at least near enough on the time horizon that they seek some degree of long term capital appreciation."

-By Amy Or, Dow Jones Newswires, +1 212 416 3142, [email protected]

(TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at [email protected] Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.)

Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK -1.18% 513.7 Delayed Quote.1.20%
HESS CORPORATION -1.52% 57.65 Delayed Quote.21.45%
TIME WARNER -0.33% 96.04 Delayed Quote.5.00%
WALT DISNEY COMPANY (THE) -0.69% 99.46 Delayed Quote.-6.85%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOOGLE INC
12:07pACHIEVING THE AMERICAN DREAM : University of Utah to Lead State-wide Project Aim..
AQ
10:13aALPHABET : Correction to Alphabet Earnings WSJ Article on Tuesday
DJ
09:39aATOS : Google Cloud Enter Agreement to Create Secure Solutions for Business
DJ
09:09aALPHABET : Google overhauls Gmail to lure businesses away from Microsoft
RE
03:42aALPHABET : Correction to Alphabet Earnings Story from Monday
DJ
04/24Shire, Whirlpool rise while Caterpillar, 3M slide
AQ
04/24Atos partners with Google Cloud as new EU data law looms
RE
04/24Salesforce announces $2.2 billion French investment as Macron meets Trump
RE
04/24ALPHABET : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESUL..
AQ
04/24FACEBOOK : releases long-secret rules on how it polices the service
RE
More news
News from SeekingAlpha
2015DEAR GOOGLE : Intel Can Build Your $50 Android One Phone 
2015M&A DAILY : Paving Way For Apple Car? 
2015APPLE TV : The Amazon Ban Won't Hurt A Bit 
2015Raven Industries Worth A Look At New 52-Week Lows And Exciting Future With Go.. 
2015It's Nvidia Tegra X1 Inside Google's Pixel C Laptop 
Financials ($)
Sales 2018 134 B
EBIT 2018 33 787 M
Net income 2018 29 682 M
Finance 2018 91 277 M
Yield 2018 -
P/E ratio 2018 24,16
P/E ratio 2019 21,20
EV / Sales 2018 4,86x
EV / Sales 2019 3,90x
Capitalization 744 B
Chart GOOGLE INC
Duration : Period :
Google Inc Technical Analysis Chart | GOOGL | US38259P5089 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 1 260 $
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Lawrence E. Page Chief Executive Officer & Director
Sergey Mikhaylovich Brin President & Director
John LeRoy Hennessy Chairman
Ruth Porat Chief Financial Officer & Senior Vice President
Eric E. Schmidt Director & Technical Advisor
Sector and Competitors
1st jan.Capitalization (M$)
GOOGLE INC744 392
ALPHABET-2.92%744 392
BAIDU-1.20%80 556
YAHOO JAPAN CORPORATION-14.78%23 202
NAVER CORP--.--%22 129
YANDEX4.03%11 098