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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