Australia's Netwealth jumps on strong FUA growth, UBS keeps rating

Hub24

09/10/2025 03:49

** Shares of Netwealth Group NWL.AX pare some gains to now rise ~1% before rising 3.1% to A$31.580 to post their biggest intraday pct gain since September 5

** Wealth manager reports total funds under administration of A$120.8 bln ($79.66 bln) at September end, up 26.6% YoY

** UBS highlights strong account growth and rising adviser productivity

** Retains 'Neutral' rating at PT of A$33.50, though notes NWL has underperformed peer HUB24 HUB.AX ~10% since the FY25 result

** YTD, NWL up 7.1%, outperformed by HUB's gains of 48.2%

($1 = 1.5165 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))