Netwealth topped $125.6b funds under administration in December
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The news: Wealth management platform Netwealth Group reported total custodial funds under administration (FUA) inflows of $8.4 billion in the December quarter, lifting total FUA to $125.6 billion, up 23.6% from the prior corresponding period.
The numbers: Total FUA increased by $4.8 billion over the quarter, comprising net FUA inflows of $4.2 billion and positive market momentum of $6 million.
Funds under management (FUM) net inflows were $1.9 billion for the December quarter, taking total FUM to $31.4 billion, up 30.6% compared to the prior corresponding period.
The number of accounts rose 2.9% over the quarter, a 13.7% increase from the prior period to 172,221, with average FUA per account at $729,000.
The context: Netwealth is scheduled to release its FY26 half-year results on 18 February pre market. For FY26, the company said it expects FUA net flows to not differ materially from FY25, with an earnings before tax margin of around 49% and dividends based on underlying earnings.
What they said: "Our customers are central to our strategy and our focus remains on both understanding and delivering solutions that meet our client needs," Netwealth CEO Matt Heine said.
The source: ASX
