The Generation Development Group Ltd (ASX: GDG) share price is little changed on Monday afternoon after the company released an update to the market before the open.
At the time of writing, Generation Development shares are up 0.73% to $4.15. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.1%.
The stock has fallen sharply in recent months and is down around 30% over the past month. It is now trading near the lower end of its 52-week range of $3.87 to $7.77.
Here is what investors need to know.
Company addresses takeover speculation
In an announcement to the ASX, Generation Development Group responded to a recent media report.
The company referred to an article in the Australian Financial Review, which suggested it could be considering a potential acquisition of Ironbark Asset Management.
In its response, GDG confirmed it is not currently in discussions to acquire Ironbark.
Management said the group regularly reviews potential merger and acquisition opportunities. However, it also said any transaction must meet its investment criteria and strategic objectives before moving forward.
The company added that it remains in full compliance with its ASX listing obligations.
What does Generation Development do
Generation Development is a financial services company focused on investment and retirement products.
Its key businesses include Generation Life, which provides investment bonds and lifetime annuities, and Lonsec, which offers investment research and ratings to financial advisers.
The group also owns Evidentia, a managed accounts business that supports advisers with portfolio solutions.
The company has grown in recent years through acquisitions, including taking full ownership of Lonsec and expanding its managed accounts offering.
These businesses are aimed at benefiting from long-term growth in Australia’s wealth and retirement sector.
Half-year results in focus
Looking ahead, Generation Development is due to report its half-year results at the end of the month.
The market will be watching closely for any updates on funds under management (FUM), net inflows, and earnings growth across Generation Life, Lonsec, and Evidentia. Any commentary around margins, adviser activity, and cost discipline could also influence sentiment following the recent share price weakness.
Where to from here
Investors will likely focus on the company’s ability to grow FUM and increase earnings across its divisions.
The retirement savings market remains a structural growth area, particularly as more Australians look for tax-effective investment options outside superannuation.
With the share price around $4.15, investors appear to be waiting for clearer signs of earnings growth or a new strategic development before reassessing the stock.
The post ASX wealth manager addresses takeover rumours. Here’s what happened appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.