Navigator Global Investments Limited (NGI) – Thinking strategically

May 2, 2025

Navigator Global Investments Limited is a fund manager offering open-ended products and structured products to retail, wholesale, and institutional investors. Navigator Global, which operates via 12 partner firms of varying investment styles, customer bases and products, is based in Sydney, Australia.

 

Navigator’s Global Investments’ recent March-quarter update was broadly in-line with Ord Minnett’s expectations, with the NGI Strategic funds business providing a slight beat that was offset by slightly lower assets under management (AUM) in the Lighthouse Partners operations. Overall, group AUM when adjusted for Navigator’s stake in its various joint ventures increased marginally over the quarter to US$27.2billion.

We viewed performance of key Lighthouse Partners funds as reasonable in a difficult quarter for markets, with the Multi-strategy fund ahead of its benchmark, while the Global Long Short fund was down slightly. In our view, the business remains on track to meet our forecasts, especially given the NGI Strategic funds segment is performing well.

We now forecast net profit of US$75.0 million for FY25, which sees Navigator Global trading on a modest price-to-earnings ratio of 7.5x. We retain our Buy rating on the stock and our target price of $2.50.

Insights that count

Discover the best opportunities to outperform the market. Our research team dig deep into the market, company and stock data to bring you insights others might overlook.

James Hardie Industries (JHX) – Questions to be asked

James Hardie Industries engages in the manufacture and sale of fibre cement, fibre gypsum, and cement bonded boards in the US, Australia, Europe and New Zealand.

Learn More

Amcor (AMC) – All in the timing

Amcor develops, produces, and sells packaging products in Europe, North America, Latin America, and the Asia Pacific.

Learn More

Virgin Australia (VGN) – Virgin rises

Virgin Australia Holdings provides domestic and international travel services to leisure, corporate and government, regional and charter travel, and air freight customers in Australia and operates through the Velocity loyalty program.

Learn More

Want to keep up to
date on our latest news & insights

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.