Australia's Netwealth hits near 7-week high on higher funds under administration

Netwealth

16/04/2026 02:27

** Shares of Australia's Netwealth Group NWL.AX rise as much as 7.4% to A$25.58, hitting their highest level since February 27

** Financial services co said funds under administration as of March 31 grew 20.9% over pcp to A$125.8 billion ($90.20 billion)

** Co expects FY26 funds under administration net flows to not differ materially from FY25

** YTD, stock down 3%

($1 = 1.3947 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))