Fund managers including Ten Cap, Blackwattle Investment Partners, Monash Investors, Ausbil Investment Management, Elston Asset Management, Bennelong Australian Equity Partners, Hyperion Asset Management, Wilson Asset Management, Flagship Investments, Eley Griffiths Group, Smallco Investment Manager, Ellerston Capital, Selector Funds Management, Solaris Investment Management, Katana Asset Management, ECP Asset Management and Eiger Capital have invested in Temple & Webster Group Ltd (ASX:TPW).

Fund managers previously backed Temple & Webster as Australia's leading online furniture and homewares retailer with a capital-light drop-ship model and private label range, positioned to benefit from the long-term shift of furniture sales online.

Managers highlight a slowing furniture and homewares market after interest rate hikes and higher inflation, margin pressure from increased discounting, first-half results below expectations and leadership change, with the shares falling around 75% over a year.

Temple & Webster Group Ltd. is an Australian online retailer specializing in furniture, homewares, and home improvement products. Established in July 2011 by founders Mark Coulter, Brian Shanahan, Conrad Yiu, and Adam McWhinney, the company is headquartered in St. Peters, Australia. Its retail operations are conducted through two primary brands: Temple & Webster and Milan Direct. As an e-commerce platform, the group focuses on providing a wide range of home-related goods directly to consumers.