Hub24 posts Q3 net inflows of $4.9 billion
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The news: Investment platform Hub24 reported a boost to funds under administration (FUA) in the third quarter of FY25, driven by platform net inflows of $4.9 billion.
The numbers: Total FUA grew 24% year on year to $124.1 billion. This included platform FUA of $102.5 billion, which rose 29% compared to the prior corresponding period. Portfolio, administration and reporting services FUA was up 6% year on year to $21.6 billion.
The context: FUA growth was driven by platform net inflows of $4.9 billion during the quarter, up 39% compared to the prior corresponding period, offsetting negative market movements of $1.3 billion.
Hub24 said that it signed 28 new distribution agreements during the quarter, and the total number of advisers using the platform increased by 129 to 5,015. The platform's market share increased to 8.3% as at 31 December 2024, up from 7% a year earlier.
Hub24 noted that it continues to expect a total of $5 billion of FUA from EQT migrations by the end of FY25.
The source: ASX
