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.
To read more, please click on the link below…