Netwealth shares dip despite hitting FUA milestone
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More news: Netwealth shares lowered in early trading on the ASX after the investment platform announced that it has reached $100 billion in funds under management (FUA).
Shares were down 1.2% to $30.41 having more than doubled in value over the last 12 months.
E&P Capital analyst Olivier Coulon said implied flows for the two months to the end of November were broadly in line with expectations, while total FUA of $100.2 billion compared to E&P's estimate of $100 billion for the entire FY25 first half.
What they said: "The outperformance appears primarily from a more material market performance impact than assumed," Coulon said.
"While [market] performance has a reduced impact due to tiering and caps the strong [market] performance will be a modest incremental positive."
Netwealth hits $100b in funds under administration
The news: Investment platform Netwealth has hit $100 billion in funds under administration (FUA) as it launches a new online experience for advisors and investors.
The numbers: Netwealth's FUA is comprises of $99.5 billion of custodial FUA and $700 million of non-custodial FUA, as at 28 November.
The company has seen total FUA net inflows of $6.6 billion in FY25 year to date, and market movement of $5.6 billion. Netwealth's flagship 'managed account' has exceeded $20.6 billion.
The Melbourne-based financial services group reported record net inflows in the September quarter, taking FUA to $94.5 billion by the end of the period.
The context: Netwealth also announced the launch of a new online platform experience, providing "a modern, intuitive and interactive interface that will support the next chapter of our growth".
The source: ASX announcement
