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FSA Group Ltd ASX:FSA

0 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 Jul 2025 to today

Commentary 2 comments

DateManagerActionSummary

31 Aug 2025Hurdle RateInitiatedHurdle Rate initiated a position in FSA Group Ltd and notes the company delivered strong full-year results, with loan pools growing 14% year-on-year and net finance income increasing from 47% to 49% — with 51% in the second half. Hurdle Rate highlights 23% growth in operating income and 43% growth in profit after tax attributable to members, noting the company priced a $250 million ABS transaction in December. The fund acknowledges that a hedge on interest rate swaps created drag on comprehensive income, and flags the elongation of arrears and rising impairment provisions due to cost-of-living pressures among the client base. Management is guiding to up to 30% profit growth in FY2026.

Consumer FinanceMonthly Report, price recorded $1.08

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31 Jul 2025Hurdle RateHeldThe manager holds FSA Group because the manager believes Fox Symes Australia, as Australia's largest provider of debt agreements and personal insolvency solutions, occupies a structurally growing market as household financial stress increases. The manager notes FSA's dominant market position, growing client volumes, and improving earnings quality from its consumer debt solutions business make it a compelling defensive growth investment.

Monthly Report, price recorded $0.94

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on FSA.

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About FSA Group Ltd

Financials, Consumer Finance

FSA Group (ASX:FSA), a debt solutions and lending company, is a recent addition for Hurdle Rate. In August 2025, Hurdle Rate reported its newest holding had a strong end to the financial year, with loan pools growing 14% and a slight increase in net finance income. In July 2025, Hurdle Rate explained FSA stands for Fox Symes Australia, derived from its long-held position as Australia's largest provider of personal insolvency services, and that the business has since expanded into lending. FSA Group operates in the Financials sector within the Consumer Finance industry, and Thesis Tracker has captured 2 comments from 1 fund manager, Hurdle Rate. Founded in 2000 and headquartered in Darlinghurst, Sydney, FSA Group provides debt agreements, personal insolvency and debt solutions services, alongside home loans and vehicle and equipment finance for borrowers who may be underserved by mainstream lenders, funded through warehouse facilities, and has historically paid steady dividends.

Market cap: $147m
Price to earnings: 11.1x
Return on equity: 16.0%
Dividend yield: 5.4%
Price to book: 1.72x
Net margin: 22.5%
52-week range: $1.08 to $1.40

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in FSA Group Ltd (ASX:FSA)?

Fund managers including Hurdle Rate have invested in FSA Group Ltd (ASX:FSA).

What opportunities or catalysts do fund managers highlight for FSA Group Ltd?

Hurdle Rate highlights 14% growth in loan pools, higher net finance income and FSA's leading position in personal insolvency services, providing a base for its lending growth.

What are the key risks to the FSA Group Ltd investment thesis, according to fund managers?

The available commentary does not detail specific risks, though FSA's lending business is exposed to credit losses and funding costs for non-standard borrowers.

What does FSA Group Ltd (ASX:FSA) do?

Headquartered in Darlinghurst, Australia, and founded in 2000, FSA Group Ltd. provides debt solutions and direct lending services. The company operates across three segments: Services, Lending, and Other. The Services segment facilitates creditor payment arrangements, including debt agreements and insolvency services. The Lending segment provides home loans, personal loans, and vehicle/equipment finance for consumers and SMEs. The Other segment covers intercompany transactions, parent entity services, and fair value movements of derivatives. FSA Group focuses on assisting individuals and businesses with structured financial solutions and credit products.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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