HUB24 Limited (ASX:HUB) continued to witness strong net inflows which stood at record $1.1 billion in the June quarter, up ~11% on pcp, driven by client transitions from incumbent platforms, including strong inflows from both key accounts and broker clients. Some highlights include:
- Funds Under Administration (FUA) for the quarter rose by $2.1 billion, amounting to $17.2 billion at 30 June 2020, an increase of 14% due to strong inflows and favourable market movement.
- New business pipeline continues to grow with 34 new licensee agreements signed in the June quarter and 110 new advisers using the platform
- Hub24 has retained second place in both adviser satisfaction and adviser advocacy in the recent Investment Trends report
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.
Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)