Australia's Netwealth hits record high as funds under management increase

Netwealth

10/10/2024 01:06

** Shares of Australia's Netwealth Group  NWL.AX  rise as
much as 4.6% to a record high of A$27.350
    ** Stock posts its biggest intraday pct gain since Aug 16
    ** The financial services firm posts funds under management
as of Sept 30 of A$22.5 bln ($15.11 bln) vs A$16.47 bln last
year
    ** Reports total funds under administration as of Sept 30 of
A$95.42 bln vs A$71.98 bln last year
    ** Co also announces appointment of Hayden Stockdale as its
new CFO
    ** Stock has risen 76% YTD as of 0001 GMT


($1 = 1.4888 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))