Australia's Netwealth hits over 2-yr high as FUM surges

Netwealth

29/01/2024 02:15

** Shares of Netwealth Group  NWL.AX  rise as much as 2.5%
to A$17.8, their highest since Jan. 5, 2022 
    ** Stock set for biggest intraday pct gain since Jan. 19 
    ** Financial services firm says funds under management as of
Dec. 31 at A$78 bln ($51.41 bln) versus A$62.4 bln at Dec. 31,
2022
    ** Adds, net inflows up 25% Y/Y
    ** Stock up ~13% YTD as of last close, after ending ~27%
higher in 2023 


($1 = 1.5172 Australian dollars)

 (Reporting by Sneha Kumar)
 ((Sneha.Kumar@thomsonreuters.com;))