Fund Manager Summary on OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX)
In March 2026, Ryder Capital commented that OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX) had become more attractive after Goldman Sachs was appointed to run a strategic review, with continued corporate migration to the new client platform supporting potential growth in non-FX revenue and higher earnings. Overall, fund manager commentary on OFX has shifted from caution to selective optimism: earlier views from Salter Brothers and parts of Selector highlighted a weaker-than-expected FY25 result, falling active customers and transaction volumes, lower net operating income, higher costs tied to accelerating the NCP rollout, and earnings uncertainty as macro volatility and bad debts weighed on performance; by contrast, Ellerston, Forager, Ryder and later Selector saw strategic value in OFX’s pivot beyond spot FX toward cards, wallets, subscriptions and enterprise payments, noting progress in platform adoption, operating leverage potential, a net cash balance sheet and the possibility that the business could be worth more under a larger or strategically motivated owner. The consensus is that OFX faces near-term execution and margin pressure while it funds its transformation, but the new platform, improving cross-sell, and strategic review create optionality if management can convert corporate client migration into durable non-FX revenue growth and defend profitability in a competitive FX market.
Commentary From The Managers
There are 22 insights from 6 fund managers regarding their investment in OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX) available on Thesis Tracker.
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Commentary From The Managers
The completeness, accuracy or current status of the investments referenced are not guaranteed.
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Frequently Asked Questions
Who is investing in OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX)?
Fund managers including Blackwattle Investment Partners, Salter Brothers, Ellerston Capital, Selector Funds Management, Ryder Capital and Forager Funds have invested in OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX).
Why do fund managers invest in OFX Group Ltd Fully Paid Ord. Shrs?
Fund managers may invest in OFX because it has a long-standing international payments franchise, a net cash balance sheet, and exposure to cross-border transaction volumes. Supporters point to the rollout of its new client platform, which is intended to lift non-FX revenue from cards, wallets and subscriptions and improve operating leverage over time. The stock can also appeal as a turnaround or special situation, given its low valuation and potential strategic value, but earnings risk remains high.
What happened to OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX)?
Fund managers view OFX Group Ltd (ASX:OFX) as a strategic investment due to its proactive management response to macroeconomic challenges, including enhanced risk controls that have begun reducing bad debts. Despite a 9% decline in revenue to $31.3 million, the company’s successful launch of a new client platform and accelerated onboarding of corporate clients, coupled with 80 innovative product features, positions it for improved client acquisition and future growth. With a market capitalization of $137 million, OFX demonstrates resilience and potential despite current market fluctuations.
What is the short interest in OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX)?
The short interest in OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX) is 0.47% which makes it the 284th most shorted stock on the ASX. Of the 231.7M shares that OFX Group Ltd Fully Paid Ord. Shrs has on issue, 1.1M have been sold short.
What does OFX Group Ltd Fully Paid Ord. Shrs (ASX:OFX) do?
OFX Group Ltd. engages in providing international payment and foreign exchange services. It also provides international payment solutions to partner companies which assist them to offer international payment services to their end-users. The firm operates through following segments: Consumer, Corporate, Enterprise, and Online Sellers. The company was founded by Matthew Gilmour in 1998 and is headquartered in Sydney, Australia.