Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Asset Management Industry Analysis

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies65
  • 7D4.3%
  • 3M6.8%
  • 1Y-12.3%
  • YTDn/a

In the last week, the Asset Management industry is up 4.3%, with Netwealth Group up 14%. However, the industry is down 12% over the past year. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026AU$56.0bAU$7.6bAU$2.7b20.2x20.7x7.3x
Tue, 02 Jun 2026AU$52.7bAU$7.6bAU$2.7b19.8x19.7x7x
Thu, 30 Apr 2026AU$52.7bAU$7.6bAU$2.7b18.9x19.7x7x
Sat, 28 Mar 2026AU$55.0bAU$9.3bAU$2.9b21.1x19.3x5.9x
Mon, 23 Feb 2026AU$60.6bAU$8.7bAU$2.9b23.1x20.8x7x
Wed, 21 Jan 2026AU$61.9bAU$9.0bAU$3.2b21.3x19.4x6.9x
Fri, 19 Dec 2025AU$61.4bAU$9.1bAU$3.2b22x19.2x6.8x
Sun, 16 Nov 2025AU$60.5bAU$9.1bAU$3.2b22.6x18.9x6.7x
Tue, 14 Oct 2025AU$62.3bAU$8.9bAU$3.1b21.8x19.9x7x
Thu, 11 Sep 2025AU$61.2bAU$9.0bAU$3.1b22x19.6x6.8x
Sat, 09 Aug 2025AU$63.9bAU$9.6bAU$3.0b15.9x21.2x6.6x
Mon, 07 Jul 2025AU$63.1bAU$9.6bAU$3.0b14.5x20.7x6.6x
Wed, 04 Jun 2025AU$59.9bAU$9.6bAU$3.1b14.8x19.6x6.2x
Fri, 02 May 2025AU$57.9bAU$9.7bAU$3.1b14x18.9x6x
Sun, 30 Mar 2025AU$59.9bAU$9.7bAU$3.1b13.8x19.5x6.2x
Tue, 25 Feb 2025AU$65.9bAU$9.4bAU$3.0b17.2x22x7x
Thu, 23 Jan 2025AU$66.1bAU$9.8bAU$2.3b18.2x29.4x6.8x
Sat, 21 Dec 2024AU$63.4bAU$9.8bAU$2.3b19x28.2x6.5x
Mon, 18 Nov 2024AU$66.5bAU$9.7bAU$2.2b19x29.8x6.8x
Wed, 16 Oct 2024AU$63.7bAU$9.7bAU$2.2b18.2x28.7x6.6x
Fri, 13 Sep 2024AU$55.7bAU$9.6bAU$2.2b16.8x25.9x5.8x
Sun, 11 Aug 2024AU$56.0bAU$9.1bAU$2.4b21.1x23x6.2x
Tue, 09 Jul 2024AU$55.3bAU$9.0bAU$2.4b22.8x22.9x6.1x
Thu, 06 Jun 2024AU$53.7bAU$9.0bAU$2.4b22.6x22.2x5.9x
Sat, 04 May 2024AU$53.0bAU$9.1bAU$2.4b23x21.8x5.8x
Mon, 01 Apr 2024AU$53.8bAU$9.1bAU$2.4b23.2x22.1x5.9x
Wed, 28 Feb 2024AU$52.3bAU$9.0bAU$2.4b25.1x21.7x5.8x
Fri, 26 Jan 2024AU$53.0bAU$9.2bAU$2.4b21.6x21.7x5.8x
Sun, 24 Dec 2023AU$50.4bAU$8.9bAU$2.3b20.3x21.8x5.7x
Tue, 21 Nov 2023AU$47.1bAU$8.9bAU$2.3b19.5x20.2x5.3x
Thu, 19 Oct 2023AU$44.7bAU$8.5bAU$2.0b19.5x22.2x5.3x
Sat, 16 Sep 2023AU$46.7bAU$8.5bAU$2.0b20.2x23.2x5.5x
Mon, 14 Aug 2023AU$46.6bAU$8.1bAU$2.0b21.8x23.3x5.8x
Wed, 12 Jul 2023AU$45.4bAU$8.1bAU$2.1b22.8x22x5.6x
Price to Earnings Ratio

22x


Total Market Cap: AU$45.4bTotal Earnings: AU$2.1bTotal Revenue: AU$8.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Asset Management Industry Price to Earnings3Y Average 22.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Australian Asset Management and Custody Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 22.1x.
  • The 3-year average PS ratio of 6.2x is lower than the industry's current PS ratio of 7.3x.
Past Earnings Growth
  • The earnings for companies in the Asset Management and Custody Banks industry have grown 9.4% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.0% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Comparison

How does Australian Asset Management compare with similar industries?

AU Market0.98%
Financials1.74%
Capital Markets2.50%
Asset Management4.28%
Investment Banking and Brokerage14.14%
Diversified Capital Markets0.92%
Financial Exchanges and Data-0.52%
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
NWL Netwealth GroupAU$22.6313.8%
+AU$672.4m		-33.8%PE97.8x
PPT PerpetualAU$18.9825.0%
+AU$429.8m		-8.0%PS1.5x
PNI Pinnacle Investment Management GroupAU$18.198.9%
+AU$350.1m		-14.3%PE33.9x
L1G L1 GroupAU$1.207.6%
+AU$213.4m		n/aPE25.8x
MFG Magellan Financial GroupAU$10.6310.4%
+AU$185.8m		12.1%PE14.1x

Latest News

PPT
AU$18.98
Perpetual
7D
25.0%
1Y
-8.0%
New Narrative • Jul 04

Active ETF Expansion And Private Capital Push Will Pressure Margins And Cash Flows

Catalysts About Perpetual Perpetual is a diversified financial services company with asset management, corporate trust and wealth management businesses. What are the underlying business or industry changes driving this perspective?
PFG
AU$0.21
Prime Financial Group
7D
-2.3%
1Y
-6.5%
MFG
AU$10.63
Magellan Financial Group
7D
10.4%
1Y
12.1%
RPL
AU$3.11
Regal Partners
7D
11.5%
1Y
22.4%
Narrative Update • Jul 01

RPL: Revised Assumptions Will Support Future Share Price Upside

Analysts have adjusted their price outlook on Regal Partners to reflect a revised fair value estimate of A$4.95. They cited slightly updated assumptions for discount rate, revenue growth, profit margin and future P/E multiples.
PCG
AU$0.85
Pengana Capital Group
7D
-5.6%
1Y
9.7%
PNI
AU$18.19
Pinnacle Investment Management Group
7D
8.9%
1Y
-14.3%
Narrative Update • Jun 26

PNI: Higher Profitability Assumptions Will Support Stronger Future Earnings Potential

Analysts have trimmed their price target on Pinnacle Investment Management Group from A$29 to A$26. This reflects updated views on fair value, discount rate settings, revenue growth expectations, profit margin assumptions and future P/E multiples.
NGI
AU$2.52
Navigator Global Investments
7D
-0.4%
1Y
42.4%
Narrative Update • Jun 25

NGI: Equity Raise And Alternatives Focus Will Support Future Earnings Diversification

Analysts have lifted their price target on Navigator Global Investments to A$3.63, reflecting fresh coverage that highlights the company's focus on alternative assets and what they describe as improved earnings quality. What's in the News Navigator Global Investments has filed a follow-on equity offering totaling A$144.98 million in ordinary shares, according to Key Developments data.
AFI
AU$6.88
Australian Foundation Investment
7D
-0.1%
1Y
-6.6%
NWL
AU$22.63
Netwealth Group
7D
13.8%
1Y
-33.8%
Narrative Update • Jun 23

NWL: Rich Dividend And Index Removal Will Still Cap Future Returns

Analysts have nudged their price target on Netwealth Group slightly higher to A$17.86, with updated assumptions pointing to a modestly higher revenue growth outlook, a slightly wider profit margin, a marginally higher discount rate, and a slightly lower future P/E multiple. What's in the News No recent Netwealth Group specific news items, periodical coverage, or key developments were provided in the available sources.
MFF
AU$5.21
MFF Capital Investments
7D
2.8%
1Y
17.1%
Analysis Article • Jun 21

MFF Capital Investments (ASX:MFF) Shares Could Be 66.9% Undervalued After Its Planned 23% FY26 Dividend Lift

MFF Capital Investments (ASX:MFF) is back in focus after flagging a planned 23% lift in its FY26 dividend. This continues a pattern of annual dividend increases since 2018 that keeps income-focused investors watching closely. See our latest analysis for MFF Capital Investments. MFF Capital Investments’ recent dividend update comes after a period of strong price momentum, with a 90 day share price return of 15.91% and a 1 year total shareholder return of 23.99% supporting a much stronger 3...
L1G
AU$1.20
L1 Group
7D
7.6%
1Y
n/a
MAF
AU$6.30
MA Financial Group
7D
5.9%
1Y
-16.0%
WHI
AU$1.30
Whitefield Income
7D
-1.5%
1Y
-7.5%
ARA
AU$0.46
Ariadne Australia
7D
-2.1%
1Y
0%
PAC
AU$11.75
Pacific Current Group
7D
-2.1%
1Y
7.8%
CIN
AU$33.50
Carlton Investments
7D
-3.6%
1Y
-8.4%