Netwealth Group (ASX:NWL) will compensate members of its superannuation fund who lost money in the collapse of the First Guardian Master Fund, agreeing to pay an estimated $101 million after settling with the corporate regulator ASIC.
In an announcement, Netwealth said affected members of the Netwealth Superannuation Master Fund would receive payments reflecting their net capital invested in First Guardian, credited directly to their super accounts by Jan. 30, 2026.
The compensation will be funded through a mix of cash and debt and booked as a one-off extraordinary expense in the first half of FY26, reducing net profit after tax by about $71 million.
Netwealth said it remains financially strong and reaffirmed its FY26 guidance, excluding the compensation from underlying earnings.