Netwealth Group (ASX:NWL) reports 9% increase in FUA in Dec quarter

January 20, 2022 02:55 PM AEDT

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ASX NWL, Netwealth share price, ASX Netwealth revenue, ASX NWL quarterly results — Image source: © Cammeraydave | Megapixl.com

Highlights

NWL has achieved solid FUA net flows of AU$3.6 billion, up 41% from the previous year.

Margin across all cash accounts from 25th March 2022 to be nearly 50 bps above RBA Rate.

NWL anticipates FUA net inflows to exceed AU$13.5 billion in FY2022.

The shares of ASX listed superannuation products provider Netwealth Group Limited (ASX:NWL) have been grabbing the attention after the company announced its quarterly results.

Key Highlights from quarterly report:

Netwealth booked record funds under administration (FUA) net inflows of AU$3.6 billion, up 41% from the prior year.
The company’s FUA grew to AU$56.6 billion, reflecting a significant increase of AU$17.9 billion from December 2020, including the positive market movement of AU$4.9 billion.
NWL’s managed account balance also jumped by 53.9% from December 2020 to AU$11.7 billion.

The company also expects the margin across all cash accounts from 25th March 2022 to be nearly 50 bps above RBA Rate.
The company has accelerated its investment technology in the first half of FY2022 to build its client support and drive new revenue streams.
With solid quarterly results for the latest quarter, NWL anticipates FUA net inflows to exceed AU$13.5 billion.

Today, NWL shares were trading 1.77% higher at AU$16.72 at 1.16 pm AEDT.

Releated read - Harmoney (ASX:HMY) shares close in green on strong 1H FY22 performance

Bottomline

The company is pretty confident in the December quarter results; and expects to remain in a solid financial position this year with a stable EBITDA margin.