Marsh & McLennan's (MMC) Unit Surpasses the $321.4B Mark
Marsh & McLennan Companies, Inc.'s MMC business unit Mercer announced that its retirement plan solution has crossed the $321.4 billion mark in assets under management (AUM). This is undoubtedly a milestone for Mercer, which witnessed a rise in demand for investment solutions of late amid economic volatility and low interest rates.
With the outbreak of COVID-19, more and more investors became interested in its investment solutions. Mercer helped them tide over the liquidity crisis and the extreme economic turmoil.
Management believes that institutional investors whose governance handled rebalancing trades, and de-risking and re-risking trades witnessed better performance irrespective of the market situation. Investors who tried tapping prospects, such as high yield and private debt amid market depression were also benefited.
Mercer has been performing really well so far, which is also evident from its achievements. Earlier in March this year, Pensions & Investments ranked Mercer first internationally, outsourced assets under management. This arm of Marsh & McLennan was also rated first for global assets under management as of March 2020, per CIO magazine.
These days, portfolios need wider diversification with more asset classes, investment managers, etc. Investors are looking for better ways to handle their portfolios, especially because of the current market turbulence and fee pressures. All these factors are boosting interest in investment solutions across its client base.
A few months back, Mercer crossed the $1-billion mark in assets under management (AUM). Notably, Mercer Wise 401(k), a bundled solution, is part of Mercer’s expanding Outsourced Chief Investment Officer (OCIO) business.
Shares of Marsh & McLennan, which currently carries a Zacks Rank #3 (Hold), have gained 8.8% in a year compared with the industry’s growth of 6.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s peers, namely Arthur J. Gallagher & Co. AJG, Brown & Brown, Inc. BRO and Aon plc AON have also rallied 28%, 21.3% and 5.3%, respectively, in a year’s time.
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