BUZZ-Australia's Netwealth hits record high on qtrly FuA growth

Reuters

2025/01/23

** 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))

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