Navigator Global's Bull Mulls Mixed September Quarter

Dow Jones10-20

0011 GMT - Navigator Global Investments' September-quarter performance looks mixed to its bull at Morgans. Analyst Richard Coles likes the 9% growth in group ownership-adjusted assets under management, which was led by the Australian alternative-asset manager's strategic portfolio. Less positive was a slowdown in net flows at its Lighthouse portfolio, with flows mostly into lower-margin managed accounts. These Lighthouse net flows were largely offset by negative performance, he adds in a note. On balance, he says Navigator remains well positioned to benefit from structural tailwinds in global alternative asset markets. Morgans keeps a buy rating on the stock and a target price of 3.04 Australian dollars. Shares are up 0.2% at A$2.095.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment