Netwealth Group Limited (ASX:NWL) increased its funds under management (FUA) by 35% for the financial year 2020, a rise of nearly A$8.2 billion. This comprises a negative market movement of A$0.9 billion for the year.
Netwealth disclosed that its FUA stood at A$31.5 billion at the end of the June quarter.
Moreover, the company stated it is expecting to exceed its previous guidance for FY2020.
NWL stock was noted at A$9.930 up by 7.004% at AEST 12:22 PM.
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