Netwealth Group Ltd shares rose 2.4% to $23.73 after the wealth manager reported record funds under administration of $135.7 billion for FY2026.
The $5.7 billion company recorded net inflows of $15.4 billion for the financial year and reaffirmed its FY2027 guidance in its fourth-quarter update.
Citi analysts welcomed the result, noting that elevated fourth-quarter outflows were concentrated in a small number of ultra-high-net-worth accounts amid increased investor activity linked to Middle East tensions.
The broker said gross outflows rose about 11% year-on-year but remained encouraged by the broader platform performance.
Citi expects some softness in core flows to continue through the first half of FY2027 before improving in the second half.
The broker retained its Buy rating on Netwealth and maintained a $29.10 price target, implying further upside from current levels.