HUB24 has reported record net inflows and increased funds under administration (FUA) for the December quarter, positioning it well for future growth. The investment platform group recorded $5.6 billion in net inflows during the quarter, a 2 per cent increase compared to the same period last year. Excluding large client transitions, the increase jumps to 42 per cent. This brings first-half inflows to a record $10.7 billion, up 13 per cent from the previous year. HUB24 provides investment platform, superannuation, and portfolio administration solutions. The company aims to provide better technology, choice, and value, empowering advisers and their clients.
Total FUA reached $152.3 billion as of December 31, marking a 26 per cent increase year-on-year. Platform FUA grew to $127.9 billion, a 29 per cent rise, while non-custodial portfolio, administration, and reporting services FUA reached $24.4 billion, up 11 per cent. HUB24 stated that strong adviser demand, new distribution agreements, and new product developments have been key drivers in supporting these inflows.
The platform’s performance has also led to an increased market share, reaching 9.3 per cent as of September 30, up from 7.9 per cent a year prior. HUB24 ranked first for both quarterly and annual net inflows, demonstrating its competitive position in the market. During the quarter, HUB24 signed 34 distribution agreements, further expanding its reach and network.
