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- HUB24 Limited provided its market update for the December quarter FY22.
- The net inflow value is the record value for the December quarter and overall.
- Consistent growth has been delivered by HUB24 for net inflows from three consecutive quarters.
Superannuation and investment service provider HUB24 Limited (ASX:HUB) has shared its market update today for the December quarter FY22.
Following the announcement, the shares of HUB were spotted trading a 1.53% high at AU$27.26 (12.29 am AEDT) with a market cap of AU$1.84 billion.
In the December FY22 quarter, HUB24 reported net inflows of AU$3.6 billion, bringing 1HF22 net inflows to AU%6.7 billion. The company has recorded a 68% increase in the average monthly inflows from AU$627 million in FY21 to AU$1.1 billion in FY22.
Consistent growth has been delivered by HUB24 for net inflows from three consecutive quarters. The record performance reestablishes the leadership position of the company. It shows that the innovative solutions offered by HUB24 resonated with their clients and advisers.
In the December quarter, the company has signed 28 new distribution agreements. As per the Strategic Insights Data, HUB24 gained second place for quarterly and annual net inflows.
Total FUA has grown to AU$68.3 billion in Q2FY22 with Platform FUA of AU$50 billion as at Dec 2021 (up 28% on PCP). The company also informed that PARS FUA is now AU$18.3 billion, up from AU$17.8 billion as of 30 September 2021.
Financial reports for 1HFY22 will be released with the following adjustments shortly by HUB24.