Hub24 shares drop despite positive FY26 performance
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More news: Shares in Hub24 tumbled in afternoon trade despite the investment platform reporting a 20% year-on-year increase in both net inflows and total funds under administration.
Shares fell 4.2% to $81.32 at 2:40pm AEST.
Hub24 posts 20% jump in platform net inflows for FY26
The news: Investment platform Hub24 has reported platform net inflows of $18.9 billion for FY26, up 20% year on year.
The numbers: Total funds under administration (FUA) was $164.3 billion at 30 June, up 20% on the prior corresponding period.
The company said platform FUA increased 9% in the June quarter, reflecting inflows of $4.2 billion, and positive market movements of $7.5 billion.
During the quarter, 36 new licensee agreements were signed and the total number of advisers using the platform increased by 100, or 11%, to 5,649.
The context: Hub24 said net inflow was stable “in the context of market volatility and the recent tax changes proposed in the Federal Budget”.
The company attributed record annual net inflows in FY26 to “innovative market-leading solutions, client service excellence, and the strength of our customer relationships”.
The source: ASX
