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Australian (ASX) Asset Management Industry Analysis

UpdatedJan 16, 2026
DataAggregated Company Financials
Companies65
  • 7D-1.2%
  • 3M-2.5%
  • 1Y-6.2%
  • YTDn/a

Over the last 7 days, the Asset Management industry has dropped 1.2%, driven by a pullback from GQG Partners of 9.7%. On the other hand HMC Capital is actually up 7.0%. However, the industry is down 6.2% over the past year. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

Has the Australian Asset Management Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 16 Jan 2026AU$61.7bAU$9.0bAU$3.2b21.1x19.3x6.8x
Sun, 14 Dec 2025AU$61.6bAU$9.0bAU$3.2b22.2x19.3x6.8x
Tue, 11 Nov 2025AU$61.8bAU$9.1bAU$3.2b22.7x19.3x6.8x
Thu, 09 Oct 2025AU$61.6bAU$8.9bAU$3.1b22.1x19.7x6.9x
Sat, 06 Sep 2025AU$61.6bAU$9.0bAU$3.1b21.8x19.7x6.8x
Mon, 04 Aug 2025AU$64.7bAU$9.6bAU$3.0b15.1x21.4x6.7x
Wed, 02 Jul 2025AU$61.9bAU$9.6bAU$3.0b14.5x20.3x6.4x
Fri, 30 May 2025AU$59.8bAU$9.6bAU$3.1b14.5x19.6x6.2x
Sun, 27 Apr 2025AU$56.7bAU$9.7bAU$3.1b13.5x18.5x5.9x
Tue, 25 Mar 2025AU$59.9bAU$9.7bAU$3.1b14.1x19.5x6.2x
Thu, 20 Feb 2025AU$68.8bAU$10.4bAU$2.8b18.6x24.5x6.6x
Sat, 18 Jan 2025AU$64.5bAU$9.8bAU$2.3b18.8x28.6x6.6x
Mon, 16 Dec 2024AU$68.2bAU$9.7bAU$2.2b19.5x30.5x7x
Wed, 13 Nov 2024AU$65.8bAU$9.7bAU$2.2b19.2x29.5x6.8x
Fri, 11 Oct 2024AU$62.7bAU$9.7bAU$2.2b18.3x28.3x6.5x
Sun, 08 Sep 2024AU$55.0bAU$9.6bAU$2.2b16.8x25.6x5.7x
Tue, 06 Aug 2024AU$55.1bAU$9.1bAU$2.4b20.7x22.6x6.1x
Thu, 04 Jul 2024AU$54.9bAU$9.0bAU$2.4b22.4x22.7x6.1x
Sat, 01 Jun 2024AU$53.8bAU$9.0bAU$2.4b23x22.2x6x
Mon, 29 Apr 2024AU$52.6bAU$9.1bAU$2.4b22.6x21.6x5.8x
Wed, 27 Mar 2024AU$53.7bAU$9.1bAU$2.4b23.2x22x5.9x
Fri, 23 Feb 2024AU$52.2bAU$8.8bAU$2.4b21.3x22.1x5.9x
Sun, 21 Jan 2024AU$52.4bAU$9.0bAU$2.3b20.8x22.4x5.8x
Tue, 19 Dec 2023AU$50.1bAU$8.9bAU$2.3b20.2x21.6x5.6x
Thu, 16 Nov 2023AU$47.1bAU$8.9bAU$2.3b19.5x20.2x5.3x
Sat, 14 Oct 2023AU$44.9bAU$8.5bAU$2.0b19.3x22.3x5.3x
Mon, 11 Sep 2023AU$46.2bAU$8.5bAU$2.0b19.9x22.9x5.5x
Wed, 09 Aug 2023AU$46.7bAU$8.1bAU$2.0b22.4x23.3x5.8x
Fri, 07 Jul 2023AU$45.5bAU$8.1bAU$2.1b22.1x22x5.6x
Sun, 04 Jun 2023AU$44.2bAU$8.2bAU$2.1b20.5x20.9x5.4x
Tue, 02 May 2023AU$45.3bAU$8.2bAU$2.1b20.9x21.4x5.5x
Thu, 30 Mar 2023AU$43.7bAU$8.2bAU$2.1b20.8x20.6x5.3x
Sat, 25 Feb 2023AU$46.7bAU$8.4bAU$2.2b21.2x20.9x5.6x
Mon, 23 Jan 2023AU$45.5bAU$8.4bAU$2.2b17.9x21.1x5.4x
Price to Earnings Ratio

21.1x


Total Market Cap: AU$45.5bTotal Earnings: AU$2.2bTotal Revenue: AU$8.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Asset Management Industry Price to Earnings3Y Average 22.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Asset Management and Custody Banks industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 19.3x which is lower than its 3-year average PE of 22.3x.
  • The 3-year average PS ratio of 6.1x is lower than the industry's current PS ratio of 6.8x.
Past Earnings Growth
  • The earnings for companies in the Asset Management and Custody Banks industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 2.6% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Asset Management compare with similar industries?

AU Market1.60%
Financials0.68%
Capital Markets-1.10%
Asset Management-1.23%
Financial Exchanges and Data0.46%
Diversified Capital Markets-1.09%
Investment Banking and Brokerage-2.01%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PNI Pinnacle Investment Management GroupAU$18.134.3%
+AU$163.7m		-23.5%PE29.8x
HMC HMC CapitalAU$4.467.7%
+AU$132.0m		-51.8%PE12.5x
ARG Argo InvestmentsAU$9.281.5%
+AU$106.2m		2.7%PE27.1x
NGI Navigator Global InvestmentsAU$3.125.8%
+AU$83.5m		89.1%PE8.6x
AFI Australian Foundation InvestmentAU$7.180.4%
+AU$37.6m		-4.3%PE31.6x

Latest News

RPL
AU$3.50
Regal Partners
7D
2.9%
1Y
-7.9%
MFF
AU$4.92
MFF Capital Investments
7D
-2.4%
1Y
3.6%
HMC
AU$4.46
HMC Capital
7D
7.7%
1Y
-51.8%
NGI
AU$3.12
Navigator Global Investments
7D
5.8%
1Y
89.1%

NGI: Higher Multiple Will Likely Contract As Margins And P/E Soften

Analysts have trimmed their price target on Navigator Global Investments slightly, citing only modest changes to revenue growth, profit margin and future P/E assumptions as the main reasons for this update. Valuation Changes Fair Value: Unchanged at A$2.61 per share, indicating no adjustment to the central value estimate.
GQG
AU$1.65
GQG Partners
7D
-9.1%
1Y
-14.3%

GQG: Higher Expected Margins And Dividend Will Support Future Upside

Analysts have trimmed their price targets for GQG Partners by a small amount. They point to slightly lower revenue growth assumptions, a marginally higher discount rate, and a higher future P/E multiple, while still expecting firm profit margins.
NWL
AU$25.65
Netwealth Group
7D
-0.4%
1Y
-4.0%

NWL: Higher Discount Rate And Lower Future P/E Will Pressure Upside Potential

Analysts have trimmed their fair value estimate for Netwealth Group from A$19.73 to A$18.70, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. Valuation Changes Fair Value Estimate was trimmed from A$19.73 to A$18.70, representing a small reduction in the assessed share valuation.
MAF
AU$10.76
MA Financial Group
7D
-1.0%
1Y
74.4%

MAF: Future Returns Will Depend On Hyperdome Redevelopment And Fundraising Execution

Analysts have kept their price target for MA Financial Group unchanged at A$11.02, citing consistent assumptions on the discount rate, revenue expectations, profit margins and forward P/E as the key reasons for maintaining their view. What's in the News MA Financial Group is launching the MA Hyperdome Town Centre Fund to acquire and overhaul the Logan Hyperdome complex south of Brisbane for A$678 million, including the main shopping centre, Hyperdome Home Centre, an office block, Loganholme Shopping Village and several development sites (Key Developments).
MFG
AU$9.21
Magellan Financial Group
7D
1.9%
1Y
-18.4%

Insufficient Growth At Magellan Financial Group Limited (ASX:MFG) Hampers Share Price

Jan 06
Insufficient Growth At Magellan Financial Group Limited (ASX:MFG) Hampers Share Price
ARG
AU$9.28
Argo Investments
7D
1.5%
1Y
2.7%
AEF
AU$4.90
Australian Ethical Investment
7D
-3.7%
1Y
-7.5%
AFI
AU$7.18
Australian Foundation Investment
7D
0.4%
1Y
-4.3%
PPT
AU$18.98
Perpetual
7D
-0.2%
1Y
-6.5%

There's No Escaping Perpetual Limited's (ASX:PPT) Muted Revenues

Nov 28
There's No Escaping Perpetual Limited's (ASX:PPT) Muted Revenues
PAC
AU$10.00
Pacific Current Group
7D
-3.4%
1Y
-15.5%
QAL
AU$3.59
Qualitas
7D
3.5%
1Y
33.5%

Why We're Not Concerned About Qualitas Limited's (ASX:QAL) Share Price

Oct 28
Why We're Not Concerned About Qualitas Limited's (ASX:QAL) Share Price
PNI
AU$18.13
Pinnacle Investment Management Group
7D
4.3%
1Y
-23.5%
ARA
AU$0.52
Ariadne Australia
7D
-6.4%
1Y
3.0%