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Navigator Global Investments (ASX:NGI), which owns stakes in alternative asset managers, has re-rated but still trades at a discount to peers. In August 2026, Forager Funds rated Navigator a buy, calling the result strong and noting that lower performance fees after a bumper 2025 actually improved earnings quality. Seneca rated it a hold, comparing it with Pinnacle and noting Navigator trades on around nine to ten times earnings, up from a 60% discount to book. Perennial reported ownership-adjusted assets under management up 6% to US$33.6 billion. Navigator Global Investments operates in the Financials sector within the Capital Markets industry, and Thesis Tracker has captured 9 comments from 7 fund managers, including Forager, Seneca, Perennial, Perpetual and LSN. Headquartered in Brisbane, Navigator owns minority and majority interests in alternative investment managers globally, including Lighthouse Partners and stakes acquired from Dyal Capital.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Ausbil Investment Management, Wilson Asset Management, Perennial Partners, Perpetual Asset Management, LSN Capital Partners, Seneca Financial Solutions and Forager Funds have invested in Navigator Global Investments Ltd (ASX:NGI).
Forager and Perennial highlight growing assets under management, improving earnings quality as reliance on performance fees falls and an inexpensive valuation, while LSN notes value-accretive acquisitions.
Seneca rates Navigator a hold after its re-rating from a deep discount, and Perennial noted the shares fell despite a positive assets under management update.
Navigator Global Investments Ltd. is an Australian fund management company headquartered in Toowong. Established in 1998, the firm provides both open-ended and structured investment products. Navigator Global Investments serves a diverse client base, including retail, wholesale, and institutional investors.
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.