Summary
The fund managers believe that PEXA Group Ltd is positioned for significant growth due to its strong market presence and innovative technology solutions. In their opinion, the company’s focus on digitizing property transactions will enhance operational efficiency and attract more clients. They note that PEXA's robust financial performance, evidenced by increasing revenue and a solid customer base, reinforces its potential for long-term value creation. Furthermore, the fund managers emphasize the importance of regulatory support for digital property transactions, which they see as a favorable market condition. They express confidence in the management team’s ability to execute strategic initiatives effectively. Overall, the fund managers view PEXA as a compelling investment opportunity, particularly given its alignment with trends towards digital transformation in the real estate sector.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Source: Trading View
Commentary From The Managers
Datt Capital
10 Sept 2025
$16.40
Summary
- Datt Capital has recently increased their position in PEXA Group Ltd.
- The decision is driven by stronger management discipline.
- Prudent capital stewardship is also a key factor in the investment thesis.
- There is imminent UK expansion optionality that is seen as a catalyst for a re-rate.
- Datt Capital believes these factors will contribute to positive performance over the medium-term.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
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Commentary From The Managers
Datt Capital
10 Sept 2025
$16.40
- Datt Capital has recently increased their position in PEXA Group Ltd.
- The decision is driven by stronger management discipline.
- Prudent capital stewardship is also a key factor in the investment thesis.
- There is imminent UK expansion optionality that is seen as a catalyst for a re-rate.
- Datt Capital believes these factors will contribute to positive performance over the medium-term.
Summary
Clime Investment Management
31 July 2025
$15.88
- PXA was a positive contributor to performance over July.
- NatWest has agreed to implement Pexa's platform for both remortgages and sale/purchase transactions.
- This agreement involves a top five financial institution in the UK, marking a significant milestone for Pexa.
- The development is viewed as a very positive step forward for Pexa to replicate its success in Australia.
- Clime Investment Management continues to hold due to these developments.
Summary
Seneca Financial Solutions
31 July 2025
$15.88
- Pexa (PXA) experienced a 17% rally after securing a partnership with NatWest, a major UK bank.
- The market has penalised Pexa for its loss-making UK expansion, despite its dominant position in the Australian market.
- Pexa enjoys EBITDA margins exceeding 50% in Australia.
- With other UK banks likely to follow suit, there is potential for PXA to continue to re-rate.
- Pexa was the only company among its peers to generate genuine news flow by partnering with NatWest.
- Pexa appears to be an attractive value proposition at approximately 20x EV/EBITDA.
- Seneca Financial Solutions believes Pexa can achieve the 'rule of 40' (25% ARR growth & 20% EBITDA margins) for many years.
Summary
Clime Investment Management
30 June 2025
$13.60
- PEXA saw strong returns in June, supported by encouraging signs in the Australian property market.
- Continued steady operational delivery has contributed to positive performance.
- Clearance rates and residential prices have shown improvement, boosting overall exchange volumes.
- In Australia, PEXA experienced a 4% rise in exchanges year-on-year, indicating growth.
- Momentum in digital solutions revenue reflects growing adoption and a dominant market position.
- UK platform development is on track, with progress toward broader market roll-out in the second half of 2025.
- Clime Investment Management continues to hold due to these positive indicators and growth potential.
Summary
Oracle Advisory Group
30 June 2025
$13.60
- Oracle Advisory Group sold their investment due to PEXA’s strong monopoly in the Australian market generating solid cash flows.
- Expansion into the UK has been slow, costly, and uncertain, with repeated delays and limited traction.
- Concerns arose over potential further expansion into other jurisdictions, such as Canada, which could lead to continued capital outlay.
- The Australian business is considered fully valued, with further gains dependent on uncertain international success.
Summary
Ten Cap
30 Apr 2025
$12.07
- Ten Cap continues to hold Pexa Group (PXA) following a recent UK regulatory approval that sparked a relief rally.
- They anticipate a pricing review in Australia that may introduce downside earnings risk in the company’s core business.
- The success of Pexa's UK arm is being closely monitored, with the realization of its earnings potential expected to take several years.
- A new management team has been established, and Ten Cap is eager to see their achievements moving forward.
Summary
Clime Investment Management
31 Jan 2025
$13.20
- PEXA Group Ltd operates Australia's leading digital property settlement exchange platform.
- Despite being a regulated business, PEXA shares characteristics with other profitable platform companies like CAR and NWL.
- Clime Investment Management believes in sustaining PEXA's strong position in the Australian digital settlement market.
- The company is also focused on investing to establish a similar digital exchange in the UK market.
- Recently, Clime Investment Management added to their position, as they view the current share price as not reflecting any value for the UK business.
Summary
Clime Investment Management
31 May 2024
$14.63
- PXA performed well for the month with new partnerships enhancing its market position.
- NatWest has joined PXA for refinancing transactions, expanding its UK presence.
- PXA plans to handle sale and purchase transactions in the first quarter of calendar year 2025.
- Incremental partnerships are expected to boost PXA's revenue.
- Clime Investment Management continues to hold because of these positive developments.
Summary
Clime Investment Management
28 Feb 2024
$12.73
- Clime Investment Management notes that PEXA Group Ltd's 1H result was slightly ahead of expectations.
- The performance was driven by the PEXA Exchange, benefiting from a rebound in the domestic property market.
- The UK expansion continues to be a drag on performance.
- Both UK targets and FY24 guidance have been reconfirmed.
- Clime Investment Management has decided to lighten the position to reinvest some proceeds elsewhere.
- The firm believes that establishing a presence in the UK could take some time.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Frequently Asked Questions
Who has invested in PEXA Group Ltd (ASX:PXA)?
Fund managers including Ten Cap, Oracle Advisory Group, Clime Investment Management, Datt Capital and Seneca Financial Solutions have invested in PEXA Group Ltd (ASX:PXA).
Why have investment managers invested in PEXA Group Ltd (ASX:PXA)?
Fund managers have invested in PEXA Group Ltd due to its strong position as Australia's leading digital property settlement exchange platform, which generates solid cash flows and benefits from a monopoly in the market. Despite challenges in its UK expansion, the company has made progress with partnerships and operational delivery, showing potential for future growth. Fund managers are optimistic about PEXA's ability to capitalize on improving conditions in the Australian property market and the strategic direction under a new management team. However, concerns about the UK venture's slow development and capital outlay without immediate returns have led to mixed sentiments among fund managers, with some opting to reduce their positions while others see long-term value in the company's growth prospects.
What happened to PEXA Group Ltd (ASX:PXA)?
In recent comments regarding PEXA Group Ltd, fund managers expressed optimism about the company's growth potential. Datt Capital highlighted an increase in their position around September 2025, citing stronger management discipline and imminent UK expansion as catalysts for a medium-term re-rate, with shares at approximately $16.40. Similarly, Seneca Financial Solutions noted a 17% rally in PEXA's stock after signing NatWest, a major UK bank, to its digital conveyancing platform, emphasizing PEXA's monopolistic position in Australia with over 50% EBITDA margins. Clime Investment Management also recognized PEXA's positive performance, attributing it to the NatWest agreement, which positions the company for success in the UK market. With shares around $15.88, PEXA's strong fundamentals and growth prospects make it an attractive investment opportunity.