MA Financial AUM $15.7B, Loan Fund Redemptions Suspended

MA Financial (ASX:MAF)'s third-quarter update reports growth in funds and lending, and discloses that its MA Secured Loan Series real estate credit fund has temporarily suspended all applications and redemptions.

Assets under management rose 18% on 3Q25 to $15.7 billion. Gross unlisted fund flows (ex. institutional) rose 11% to $710 million, while net unlisted fund flows fell 14% to $245 million. The MA Money loan book was $8.9 billion at 30 September, up 123% over 12 months, and Finsure managed loans rose 19% to $197 billion. Asset Management transacted on over $1 billion of real estate and hospitality assets, including a 50% interest in The Glen Shopping Centre for $327.5 million, due to settle in November. Corporate Advisory transactions announced in 2H26 to date are expected to deliver an additional $32 million of fees in FY26. The joint CEOs say real estate private credit, around 15% of AUM, has been affected by residential construction and development conditions. The secured loan fund had restricted redemptions to 1% of fund AUM in August, and income distributions are expected to continue monthly.

The Group anticipates Underlying EPS (ex. large notable items) will be materially higher in FY26 than FY25, but gives no figure, and the release does not say when the fund suspension will end.