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MA Financial (ASX:MAF), an alternative asset manager, has been weighed down by weaker sentiment toward private credit. In September 2026, QVG Capital noted next year's earnings expectations for MA Financial have fallen around 6%, reflecting weaker sentiment toward private credit and softer asset management growth. QVG said businesses dependent on growing assets under management were detractors, as nervous investors delayed decisions, while other parts of MA's business continue to perform. Pengana reported a 24% fall in March as stocks tied to asset values sold off. MA Financial operates in the Financials sector within the Capital Markets industry, and Thesis Tracker has captured 21 comments from 9 fund managers, including QVG Capital and Pengana. Founded in 2009 and headquartered in Sydney, MA Financial manages private credit, real estate, hospitality and other alternative investment funds, provides corporate advisory and lending services and operates the MA Money mortgage business.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Oracle Advisory Group, Pengana Capital Group, QVG Capital, Ellerston Capital, Tyndall Asset Management, SG Hiscock & Company, LHC Capital, Clime Investment Management and Centennial Asset Management have invested in MA Financial Group Ltd (ASX:MAF).
QVG notes other parts of MA Financial's business are performing well, and private credit has been a popular asset class that has supported its strong growth in assets under management.
QVG and Pengana highlight weaker sentiment toward private credit, slower fundraising, a 6% fall in earnings expectations and sensitivity of asset-value-linked earnings to market sell-offs.
MA Financial Group Ltd. is a Sydney-based diversified financial services firm established in 2009. The company operates through three primary segments: Corporate Advisory and Equities, Asset Management, and Lending and Technology. Corporate Advisory and Equities provides strategic advice, equity capital markets, research, and trading execution for corporate, institutional, and high-net-worth clients. The Asset Management segment offers investment management services to a global client base of high-net-worth and institutional investors. MA Financial Group focuses on providing integrated financial solutions through its established operational divisions.
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.