Morgans sees mixed September quarter for Navigator Global Investments
Morgans keeps its buy rating on Navigator Global Investments, as analyst Richard Coles calls the September quarter mixed despite 9% asset growth.
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what happened
According to Market Talk, Richard Coles at Morgans views Navigator Global Investments' results for the September quarter as mixed. He welcomed the 9% rise in ownership-adjusted AUM for the group, driven mainly by the company's strategic portfolio.
The slowdown in net inflows at Lighthouse was a negative, as most money went into managed accounts that carry lower margins. Coles noted that these inflows were largely cancelled out by negative investment performance.
Overall, the analyst believes Navigator is well placed to capture long-term growth drivers in global alternative asset markets. Morgans retains its buy recommendation and A$3.04 target price. Shares were up 0.2% at A$2.095.
why it matters
Asset growth supports fee income, but slower Lighthouse inflows into lower-margin products could weigh on profitability. The story concerns a single listed manager, so its broader market effect is limited.
tags
instruments
sources
- Navigator Global's Bull Mulls Mixed September Quarter — Market Talk, 20 October 2026 at 00:11 UTC
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