Prior close: $21.22
Fund flows remain strong
HUB24 released a quarterly fund flows report yesterday, which also included a business update. We discuss both below.
September quarter inflows
HUB24’s Funds Under Administration (FUA) grew 32% year-on-year to $19 billion during the September quarter, reflecting 10% inflow growth to $1.36 billion, with the balance due to market movements. For comparison, Netwealth (NWL) reported 34.4% FUA growth during the September quarter, with 29% inflow growth.