Eaton Vance Corp. (NYSE:EV)
CAPS Rating:
Principal business is creating, marketing and managing investment companies (open-end and closed-end 'funds') and providing investment management and counseling services to high-net-worth individuals and institutions.
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Asset management is simply the finest business around, and a look at the 25-year charts of EV, TROW and others tells the whole story. Market returns plus increases in total savings have yielded a compound annual growth rate in assets at EV of 25% over the years, and the business is highly scalable. A reputation unsullied by trading scandals, a highly sticky core asset base, and good asset flows are a business that I would definitely want to invest in.