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Funds management continues to fire growth for the NZX as traditional exchange-related activities tread water, the group’s latest data drop confirms. The quarterly update released last week shows the NZX Smart funds revenue clocked-in at more than $37.5 million for the nine months to September 30, representing an increase of almost 16 per cent on the same period last year. Meanwhile, income from listing fees, trading and information services remained flat or went backwards year-to-date compared to the first nine months of 2024. Combined three-month revenue from Smart and the Wealth Technologies platform reached almost $16.4 million in the September quarter, surpassing the $15.3 million contribution from core stock exchange functions. Over the nine months to September 30 the funds and platform income of $44.4 million was almost on par with the $45.3 million banked from traditional NZX activities versus $39.3 million and $46.1 million, respectively, during the same period in 2024. Wealth Technologies saw nine-monthly revenue rise to more than $8.6 million year-to-date or an increase of 26 per cent on the comparative 2024 result of almost $6.9 million. The platform has been buoyed by a string of new clients over the last year or so as well as strong markets, which turned even higher in the September quarter. Total Wealth Technologies funds under administration reached almost $18.9 billion as at September 30, equating to a year-on-year increase of about 21 per cent. Upbeat investment markets boosted the Smart assets, too, which landed at $15.4 billion at the end of September, or almost 23 per cent higher than the same time last year. Both Smart and Wealth Technologies saw inter-related leadership changes last month as platform chief, Lisa Turnbull, jumped across to lead the NZX funds business as the permanent replacement for Anna Scott (now heading Mercer NZ). “Smart has a huge opportunity in front of it that is exciting with the KiwiSaver pool of funds expected to grow to around five times its present size by 2050,” Turnbull said in a release at the time. NZX chief information officer, Roger Douglas, stepped in to replace Turnbull at Wealth Technologies – initially in an acting capacity. Long-time NZX chief, Mark Peterson, is also set to exit the group next April with recruitment underway to fill the vacancy.
