Generation Development Group shares soar 30% on FUM growth
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The news: Shares in Generation Development Group rocketed at the open after the financial services group reported a 36% jump in funds under management (FUM) for the 2026 financial year.
The numbers: GDG shares were up 31.4% to $4.39 at 10:55am AEST. The stock is down 19% over the last 12 months.
The company reported FUM of $46.4 billion as at 30 June.
The group’s Generation Life division ended the year with record quarterly sales inflows of $442 million, up 39% year on year, and FUM of $5.95 billion.
Its subsidiary Evidentia Group reported a 37% jump in FUM to $40.5 billion, while Lonsec increased the number of products researched by 9% to over 2,000.
The context: GDG said it is experiencing “favourable” structural and legislative tailwinds, including Australia’s ageing population, increased demand for retirement income solutions, and a continued need for financial advice.
The source: ASX
