Stock Analysis

• Management reiterated FY2026Funds From Operations (FFO)of about 35.4 cents per security, roughly 4% growth on FY2025, or about 5.7% excluding trading profits.

• For the six months to 30 June 2026, GQG reported netRevenueof US$397.2 million, down 1.4% on the prior corresponding period.

• For FY27, the trust guided to FFO of 8.8 cents per unit and a distribution of 8.6 cents.

• GrossWritten Premium(GWP) for the nine months was reported as $82.5 million, against $176 million a year earlier.

• Platform FUA was $143.7 billion, up 3 per cent over the quarter from $139.5 billion at 30 June 2026 and 18 per cent year on year.

• Of that, aggregated AustralianFranchiseesales were $6.58 billion and overseas company-operated sales were $3.05 billion.

• IGO said the third processing plant, CGP3, reached nameplate capacity in September, about nine months after first ore, despite a fire in June.