Hub24's Platform Net Inflows Up 23% in Fiscal Q2; Shares Climb 13%

MT Newswires Live

Jan 21, 2025

Hub24's (ASX:HUB) Platform net inflows rose 23% year on year to a record high of AU$5.5 billion in the second quarter of fiscal 2025, according to a Tuesday filing with the Australian bourse.

This included AU$1.5 billion of large migrations from Equity Trustees, per the filing.

Net inflows for the half-year period rose 31% to AU$9.5 billion, also a record.

Funds under administration (FUA) rose 33% to AU$120.9 billion as of Dec. 31, 2024. Both Platform and Portfolio, Administration, and Reporting Services logged double-digit increases in FUA.

Hub24 said it will close Xplore Wealth Managed Discretionary Account services by March 31, 2026, with roughly AU$2 billion in FUA. Its impact on earnings before tax is immaterial, the filing stated.

Hub24's shares climbed nearly 13% in recent Tuesday trade.

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Its impact on earnings before tax is immaterial, the filing stated.</p><p>Hub24's shares climbed nearly 13% in recent Tuesday trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HUB.AU","symbol_name":"HUB24 LTD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2505664492","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505664492","pubTimestamp":1737423512,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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