Investing.com– Australian wealth management platform shares Hub24 Ltd (ASX: ) jumped on Tuesday after the company reported record quarterly net inflows and announced strategic progress.
HUB24 announced record platform net inflows of A$5.5 billion ($3.45 billion) for the second quarter of fiscal 2025, up 23% year-on-year.
The firm’s total assets under management (FUA) reached A$120.9 billion as at 31 December 2024, an increase of 33% compared to the previous corresponding period.
Shares jumped nearly 15% to A$74.92, their highest level since early December.
The report also highlighted strategic initiatives including a pilot program for its advanced reporting tool “Engage” and ClearView WealthFoundations’ planned A$1.3 billion migration to FUA on HUB24 Super in the second half of FY2025.
The company also reaffirmed its FUA platform guidance for fiscal 2026, set between $115 billion and $123 billion, underscoring confidence in its growth trajectory.
