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Smartgroup (ASX:SIQ), a salary packaging and novated leasing provider, has been volatile as electric vehicle demand shifts. In August 2026, Perennial Partners reported Smartgroup fell almost 17% despite 16% EBITDA growth and 17% growth in novated lease settlements, as commentary pointed to demand normalising after an exceptionally strong half. Ralton noted the interim dividend missed expectations. Investors Mutual reported a 56% rise in the June quarter after novated leasing volumes jumped 22% and a benign federal budget outcome, and Alliance Bernstein initiated a position once policy risk was resolved. Smartgroup operates in the Industrials sector within the Professional Services industry, and Thesis Tracker has captured 18 comments from 15 fund managers, including Perennial, Ralton, Investors Mutual and Alliance Bernstein. Headquartered in Sydney, Smartgroup provides salary packaging, novated leasing, fleet management and workforce optimisation services.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Milford Asset Management, Blackwattle Investment Partners, Asymmetric Asset Management, Tyndall Asset Management, Oracle Advisory Group, Ellerston Capital, Perennial Partners, 1851 Capital, BKI Investment Company, Ten Cap, Seneca Financial Solutions, Contact Asset Management, Lennox Capital Partners, Investors Mutual Limited, Alliance Bernstein and Ralton Asset Management have invested in Smartgroup Corporation Ltd (ASX:SIQ).
Investors Mutual and Alliance Bernstein highlight strong novated leasing growth supported by electric vehicle demand and resolution of federal government policy risk around the EV fringe benefits tax exemption.
Perennial and Ralton note softer commentary on demand normalising after an exceptionally strong period and an interim dividend that missed consensus, which caused a sharp share price fall.
Smartgroup Corp. Ltd., headquartered in Sydney, Australia, has provided employee benefits and workforce optimization services since 1999. The company operates through three segments: Outsourced Administration, which offers salary packaging, leasing, and share plan administration; Vehicle Services, delivering end-to-end fleet management; and Software, Distribution and Group Services (SDGS). The SDGS segment provides salary packaging software, vehicle insurance distribution, and IT services. This structure enables Smartgroup to deliver comprehensive administrative and management solutions for businesses and their employees.
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.