** Shares of Australia's Insignia Financial IFL.AX rise as much as 1.1% to A$4.66, hitting their highest level since February 3

** Wealth manager posts 6% y-o-y increase in HY underlying net profit after tax to A$132 million ($93.3 million)

** Says average funds under management and administration at end of HY increased by A$19 billion on pcp

** YTD, shares up 2%

($1 = 1.4146 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))