Hub24 shares rocket on Q1 net inflows, FUA jump
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More news: Hub24 was one of the top performers in morning trade after the investment platform reported a leap in funds under administration in the first quarter of FY26, supported by $5.2 billion in net inflows for the period.
Hub24 shares were up 8.3% to $116.12 at 11:10am AEDT. The stock is now up 70.4% over the last 12 months.
Hub24 posts 7.4% lift in funds under management
The news: Investment platform Hub24 reported another jump in funds under administration in the first quarter of FY26, driven by quarterly net inflows of $5.2 billion.
The numbers: Total FUA grew 30% year on year, or 7.4% quarter over quarter, to $146.5 billion. This included platform FUA of $122 billion, which rose 33% year on year. Portfolio, administration and reporting services (PARS) FUA was up 14% year on year to $24.5 billion. Platform FUA (+8.2%) and PARS FUA (+3.5%) were both up on the previous quarter.
FUA growth was driven by quarterly net inflows of $5.2 billion, 28% compared to the prior corresponding period, as well as positive market movements of $4.1 billion. Net inflows were down from $5.3 billion in the previous quarter.
Hub24 said that it signed 41 new distribution agreements during the quarter, and the total number of advisers using the platform increased 11% year on year to 5,229.
The context: The company said the continued momentum in net inflows reflected the strength of its platform solutions, as well as strong adviser and licensee relationships. It noted that demand from licensees and advisors continues to provide a solid pipeline of opportunities from both new and existing client relationships.
As at 30 June, Hub24 had increased its market share to 9%, up from 7.6% a year earlier. It is now the sixth largest platform by FUA, up from seventh largest in the prior quarter.
The source: ASX
