Australia's Netwealth hits record high on qtrly FuA growth

Netwealth

23/01/2025 01:12

** Shares of Netwealth Group  NWL.AX  rise 4.3% to A$30.62
    ** Stock rose as much as 9% to A$32.05 to hit its lifetime high; logging largest intraday
pct jump since Nov 11, 2022
    ** Investment manager posts quarterly funds under management (FuA) net inflows of A$4.5 bln
($2.82 bln), up 69.8% from A$2.6 bln in the same quarter last year
    ** Also reported FuA of A$101.6 bln as at Dec 31, 2024, vs A$78 bln as at Dec 31, 2023
    ** Stock up 6% YTD, including current session's moves

($1 = 1.5949 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com))