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Australian (ASX) Asset Management Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies63
  • 7D-1.5%
  • 3M-9.0%
  • 1Y-12.3%
  • YTDn/a

The Asset Management industry has been flat over the last week, but L1 Group has lost 7.6%. As for the longer term, the industry has declined 12% in the last year. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026AU$52.8bAU$7.6bAU$2.7b19x19.7x7x
Sat, 18 Apr 2026AU$58.0bAU$9.3bAU$2.8b21.2x20.5x6.3x
Mon, 16 Mar 2026AU$56.7bAU$9.3bAU$2.8b21.5x19.9x6.1x
Wed, 11 Feb 2026AU$60.8bAU$9.0bAU$3.1b21x19.4x6.8x
Fri, 09 Jan 2026AU$62.4bAU$9.0bAU$3.2b20.9x19.6x6.9x
Sun, 07 Dec 2025AU$61.3bAU$9.1bAU$3.2b22.2x19.2x6.8x
Tue, 04 Nov 2025AU$62.7bAU$9.1bAU$3.2b22.6x19.6x6.9x
Thu, 02 Oct 2025AU$60.1bAU$9.0bAU$3.1b22.6x19.2x6.7x
Sat, 30 Aug 2025AU$63.4bAU$9.1bAU$3.1b22.5x20.1x7x
Mon, 28 Jul 2025AU$64.3bAU$9.6bAU$3.0b14.7x21.2x6.7x
Wed, 25 Jun 2025AU$60.3bAU$9.6bAU$3.0b14.4x19.8x6.3x
Fri, 23 May 2025AU$59.3bAU$9.6bAU$3.1b14.6x19.4x6.1x
Sun, 20 Apr 2025AU$55.5bAU$9.7bAU$3.1b13.8x18.1x5.7x
Tue, 18 Mar 2025AU$59.7bAU$9.7bAU$3.1b14.1x19.4x6.2x
Thu, 13 Feb 2025AU$67.3bAU$10.1bAU$2.5b18.9x26.5x6.6x
Sat, 11 Jan 2025AU$65.0bAU$9.8bAU$2.3b18.6x28.8x6.6x
Mon, 09 Dec 2024AU$66.1bAU$9.7bAU$2.2b19.3x29.6x6.8x
Wed, 06 Nov 2024AU$64.0bAU$9.7bAU$2.2b18.7x28.7x6.6x
Fri, 04 Oct 2024AU$61.2bAU$9.7bAU$2.2b17.8x27.8x6.3x
Sun, 01 Sep 2024AU$56.6bAU$9.6bAU$2.1b17.1x26.5x5.9x
Tue, 30 Jul 2024AU$57.7bAU$9.1bAU$2.4b21.5x23.7x6.4x
Thu, 27 Jun 2024AU$54.6bAU$9.0bAU$2.4b20.6x22.6x6x
Sat, 25 May 2024AU$53.1bAU$9.0bAU$2.4b25x21.9x5.9x
Mon, 22 Apr 2024AU$52.0bAU$9.1bAU$2.4b22.8x21.3x5.7x
Wed, 20 Mar 2024AU$52.7bAU$9.1bAU$2.4b22.7x21.6x5.8x
Fri, 16 Feb 2024AU$52.5bAU$8.6bAU$2.4b20.7x21.9x6.1x
Sun, 14 Jan 2024AU$52.6bAU$9.0bAU$2.3b20.9x22.5x5.8x
Tue, 12 Dec 2023AU$48.8bAU$8.9bAU$2.3b19.8x21x5.5x
Thu, 09 Nov 2023AU$45.7bAU$9.0bAU$2.3b19.3x19.6x5.1x
Sat, 07 Oct 2023AU$44.6bAU$8.5bAU$2.0b19.3x22.1x5.3x
Mon, 04 Sep 2023AU$46.7bAU$8.5bAU$2.0b19.6x23.2x5.5x
Wed, 02 Aug 2023AU$47.2bAU$8.0bAU$2.0b22.2x23.8x5.9x
Fri, 30 Jun 2023AU$45.6bAU$8.2bAU$2.1b21.7x21.5x5.6x
Sun, 28 May 2023AU$44.2bAU$8.2bAU$2.1b20.6x20.8x5.4x
Price to Earnings Ratio

20.8x


Total Market Cap: AU$44.2bTotal Earnings: AU$2.1bTotal Revenue: AU$8.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Asset Management Industry Price to Earnings3Y Average 22.2x202420252026
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 22.2x.
  • The 3-year average PS ratio of 6.2x is lower than the industry's current PS ratio of 7.1x.
Past Earnings Growth
  • The earnings for companies in the Asset Management and Custody Banks industry have grown 8.1% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.5% 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 Market-1.73%
Financials2.15%
Capital Markets-0.48%
Asset Management-1.52%
Financial Exchanges and Data3.73%
Diversified Capital Markets-0.30%
Investment Banking and Brokerage-1.29%
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
AUI Australian United InvestmentAU$10.751.0%
+AU$24.0m		-0.8%PE45.5x
QAL QualitasAU$2.902.8%
+AU$23.7m		0.7%PE22.7x
CIN Carlton InvestmentsAU$33.501.6%
+AU$13.7m		0%PE22.4x
PPT PerpetualAU$15.980.4%
+AU$7.9m		-11.3%PS1.3x
WAR WAM Strategic ValueAU$1.141.8%
+AU$3.6m		4.1%PE10.6x

Latest News

RPL
AU$2.46
Regal Partners
7D
-3.9%
1Y
14.4%
GQG
AU$1.60
GQG Partners
7D
-1.8%
1Y
-25.6%
Narrative Update • May 18

GQG: Dividend Policy And Steady Margins Will Drive Future Re Rating

Analysts have modestly adjusted their price target for GQG Partners to A$2.50 from A$2.62, reflecting slightly lower fair value estimates alongside small updates to the discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value: trimmed from A$2.62 to A$2.50, a small reduction in the modelled estimate.
PVL
AU$0.14
Powerhouse Ventures
7D
12.5%
1Y
66.7%
QAL
AU$2.90
Qualitas
7D
2.8%
1Y
0.7%
PNI
AU$15.17
Pinnacle Investment Management Group
7D
-2.3%
1Y
-22.4%
NGI
AU$2.45
Navigator Global Investments
7D
-4.3%
1Y
44.1%
Narrative Update • May 11

NGI: Follow On Equity Raise Will Support Future Acquisitive Earnings Diversification

Analysts have raised their price target for Navigator Global Investments to A$3.79 from A$3.70, citing updated assumptions for revenue growth, profit margins and future P/E that modestly increase their assessed fair value while applying a slightly different discount rate. What's in the News Navigator Global Investments filed a follow-on equity offering of A$145 million, with ordinary shares offered at A$2.40 per share under a rights offering structure (Key Developments).
NWL
AU$21.91
Netwealth Group
7D
-2.4%
1Y
-27.7%
Narrative Update • May 01

NWL: Rich Interim Dividend Will Still Limit Long Term Share Returns

Analysts have modestly trimmed their price target for Netwealth Group to A$17.86 from A$18.20. This reflects slightly lower revenue growth and a marginally higher discount rate, partly offset by a small uplift in forecast profit margin and a lower future P/E multiple.
AUI
AU$10.75
Australian United Investment
7D
1.0%
1Y
-0.8%
WAR
AU$1.14
WAM Strategic Value
7D
1.8%
1Y
4.1%
PPT
AU$15.98
Perpetual
7D
0.4%
1Y
-11.3%
Narrative Update • Apr 23

PPT: Wealth Unit Sale And Debt Reduction Will Support Future Upside

Analysts have slightly reduced their A$ fair value estimate for Perpetual to A$19.41 from A$19.53, reflecting updated views on discount rates, revenue trends, and profit margins, while keeping future P/E expectations broadly in line with prior assumptions. What's in the News Perpetual is reported to be finalising a sale of its wealth management unit to Bain Capital, with sources suggesting a price in the A$400 million to A$500 million range, following an extended negotiation process involving multiple suitors, including Oaktree Capital Management and TA Associates (Key Developments).
MAF
AU$6.12
MA Financial Group
7D
-5.8%
1Y
-9.9%
AFI
AU$6.53
Australian Foundation Investment
7D
-0.5%
1Y
-8.9%
TVL
AU$0.059
Touch Ventures
7D
5.4%
1Y
-18.1%
AMH
AU$0.89
AMCIL
7D
0.6%
1Y
-17.6%
L1G
AU$1.10
L1 Group
7D
-7.6%
1Y
n/a
CIN
AU$33.50
Carlton Investments
7D
1.6%
1Y
0%