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Investing.com -- HUB24 Limited has reported strong growth in its fourth quarter update, with Platform Funds Under Administration (FUA) reaching A$112.7 billion, representing a 34% increase year-over-year.
The company recorded platform net inflows of A$5.3 billion, up 7% compared to the same period last year and exceeding analyst consensus expectations of A$4.8 billion by 10%. Excluding A$1.2 billion of large migrations from Equity Trustees, net inflows were A$4.1 billion, marking a 33% increase from the previous corresponding period.
Market movements contributed A$4.9 billion to FUA growth during the quarter, surpassing analyst expectations of A$3.6 billion.
HUB24 completed the Equity Trustees transition in the fourth quarter, with approximately A$5.3 billion of FUA migrated over fiscal years 2024 and 2025.
The number of advisers using HUB24’s platform grew by 13% year-over-year to 5,097, while Portfolio, Administration and Reporting Services (PARS) FUA increased by 16% to A$23.7 billion.
Class Accounts, another segment of HUB24’s business, saw a 4% year-over-year increase to 215,700 accounts.
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