Company Interview / MA Financial's results led by private credit and lending growth

Key points:

Net profit rises 35% to $57 million across business unitsAsset management flows up 82% and MA Money loan book surpasses $5.7 billionRecent significant property acquisitions include Hyperdome and a leading Sydney centreFocus on private credit and real estate as core investment themes

MA Financial reports a robust 35% rise in net profit for 2025, reaching $57 million, according to Julian Biggins. He points to strong performance across asset management, real estate, private credit, and MA Money as primary contributors. Asset management flows increased by 82% year-on-year, with significant capital deployed into real estate and private credit funds. Notably, the MA Money loan book exceeded $5.7 billion, sharply outperforming earlier targets and shifting from a $3 million loss two years ago to a projected $20 million contribution this year.

Biggins highlights the benefits of scaling specialised business units, emphasising the company’s focus on niche offerings such as private credit and real estate, rather than spreading resources too thin. He states demand for private credit remains strong, even as rate hikes occur, pointing out the floating-rate nature of MA Financial’s products boosts returns in a rising rate environment. Still, Biggins cautions on risk and stresses the importance of diligent underwriting, especially in real estate, where project quality and location are seen as critical.

Recent property acquisitions included the Hyperdome shopping centre near Brisbane and a major centre in Sydney, purchased below replacement cost. Biggins maintains alternative assets offer diversification and potentially superior returns, as MA Financial manages the full asset lifecycle in-house