HUB24 posts record net inflows in December quarter

HUB24 has reported a record growth of net inflows from the December quarter which stood at $1.7 billion and represented a 36.7% increase against the previous corresponding period thanks to the continued industry trend towards specialist platforms and managed portfolios.

The firm’s custodian platform funds under administration (FUA) amounted to $22 billion at the end of December, representing a growth of a 38.7%, while the total FUA stood at $31 billion and included $9.3 billion of non-custodial FUA.

HUB24 said that with completion of the acquisition of the Ord Minnett PARS business, it would see further growth opportunities on diversifying into non-custody administration.

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Source: HUB24 posts record net inflows in December quarter | Money Management