Australia's Netwealth down on compensation agreement, Macquarie cuts PT

Netwealth

18/12/2025 23:45

** Shares of Netwealth Group NWL.AX down as much as 3.3% at A$26.110
** Financial services co on Thursday agreed to compensate affected customers of its superannuation master fund with estimated A$101 million ($66.78 million) following regulator action
** Macquarie cuts PT to A$33.05 from A$33.75, retains "Neutral" rating
** Brokerage cuts earnings forecasts given increased governance/oversight costs
** Sees potentially weaker net flows in the near term given reputational concerns
**YTD, shares down 7.5%

($1 = 1.5124 Australian dollars)