Australia's Netwealth Group rises after posting higher FUM at quarter-end

Netwealth

10/04/2025 01:57

** Shares of Netwealth Group NWL.AX rise as much as 21.9% to A$27.57, marking their biggest pct jump since mid-March 2020

** Stock hits highest level since March 26

** NWL currently up 10%, in line with broader ASX 200 benchmark .AXJO, which is up 5.1%

** Financial services firm posts total funds under management of A$24.76 bln ($15.16 bln) as of March 31, up from A$19.7 bln last year

** Stock down 13% YTD vs %% decline in AXJO

($1 = 1.6335 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))