Takeovers, Dividends and Fund Flows Drive Week 32 Share Moves

FleetPartners (ASX:FPR) led the weekly share-price moves with a 22.61% gain. SG Fleet proposed buying the company for A$3.601 per share. The offer remains conditional on further checks and regulatory approvals, so no deal is certain. GWR Group (ASX:GWR) followed with a 20.83% rise after announcing a planned $19.85 million return of capital. Pinnacle Investment Management (ASX:PNI) climbed 17.83% after a strong profit result and record money flowing into its funds.

Deals and shareholder payments set the pace

FleetPartners’ gain continued after its reopening at A$3.27. The shares then rose 6.12%, showing that buyers kept supporting the price after the initial jump. The proposal still faces due diligence and several approvals. Investors must wait for a formal offer before treating the transaction as complete.

By contrast, Steadfast Group (ASX:SDF) rose 2.74% for the week, despite a large price gap when trading resumed at 5.30. The shares later fell 0.94% from that reopening level. This suggests the early gain faded rather than turning into sustained buying. The consortium has nearly finished its checks, but the company warned that a binding agreement may not follow.

GWR’s proposed 6.1 cents-per-share capital return also attracted buyers. Shareholders will vote on 9 September, with payment expected on 22 September if approved. The tax treatment is still waiting for an Australian Taxation Office ruling. Investors therefore face both a useful cash payment and some uncertainty about how it will be taxed.

Investment managers report stronger inflows

Pinnacle reported annual profit of $176.7 million, up 31.5%. Funds under management increased 28% to $229.4 billion. The company also completed full ownership of Pacific Asset Management. Record net inflows of $33.4 billion came from retail, institutional and overseas investors. Pinnacle declared a final dividend of 31 cents per share, franked at 65%.

AMP (ASX:AMP) gained 12.56% after first-half statutory profit rose 57% to $154 million. Its underlying profit, which removes some one-off items, rose 33% to $174 million. Platforms attracted $3.1 billion of net new money, while contributions from China partnerships doubled to $56 million. AMP also announced a further $150 million share buy-back and a 3.0 cents-per-share interim dividend.

Centrepoint Alliance (ASX:CAF) reported a 16% rise in normalised EBITDA, a measure of operating earnings, to $12.3 million. Its funds under management rose 48%. Argo Investments (ASX:ARG) kept profit broadly steady at $260.2 million, but declared a record fully franked dividend of 38.5 cents and plans to pay dividends quarterly from January 2027.

Credit, banks and capital raising

Credit Corp (ASX:CCP) increased annual profit 12% to a record $105.5 million. Earnings from its US debt-buying business rose 57%, and the company began consumer lending in the United Kingdom. It expects next year’s profit to reach between $110 million and $118 million. The shares still fell 3.12% for the week, showing that a good result did not guarantee a higher share price.

Westpac (ASX:WBC) completed the sale of its $15.4 billion RAMS mortgage portfolio to a group including Pepper Money, KKR and PIMCO funds. The sale lifted Westpac’s core capital ratio by 23 basis points and removes the work of managing the portfolio. Pepper Money (ASX:PPM) will service the loans and gained 4.27%.

WAM Income Maximiser (ASX:WMX) launched a $125.4 million entitlement offer at $1.62 per share, alongside a $47 million placement. The combined raise could provide about $172.4 million before costs. New shares will qualify for fully franked dividends from September. Pengana Global Private Credit Trust (ASX:PCX) separately raised $31.25 million through a wholesale placement to support its existing private credit investments.