- 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.
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.
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.