Highlights
- Funds Under Administration (FUA) have now reached $2bn ($2.05bn at 12th October);
- Record quarterly net inflows[1] to HUB24’s investment and superannuation platform of $337m – up 97% on pcp[2];
- White label superannuation and IDPS brands now launched for the Infocus Wealth Management Group;
- Appointment of Tony McDonald to the board as non-executive director;
- Successful launch of new service for self-directed investors with $29m transitioned on 1 July 2015.
Rapid growth in FUA and net inflows
HUB24 has exceeded $2bn in FUA, representing 92% growth in FUA in the past 12 months. Throughout the first quarter of FY2016, HUB24 also recorded its highest quarterly net inflows of $337m.
This follows three quarters of record gross and net inflows for HUB24 in the 2015 financial year, in addition to a 36% increase in the number of advisers using the platform over the past 12 months.
The growth in FUA is spread across HUB24’s retail and licensee branded white label products as well as both long standing and recently signed licensees.
- Licensees who became customers prior to 30 September 2014 now account for 81% of FUA and have contributed to 61% of FUA growth over the past year to 30 September 2015.
- Licensee groups signed during the past year, including Paragem, now account for 19% of FUA having contributed to 39% of FUA growth over the past year to 30 September 2015.
- FUA in HUB24’s retail offering now accounts for 54% of total FUA and has contributed 56% to FUA growth over the past year to 30 September 2015.
- These results demonstrate that the trajectory of reliable and strong growth has continued with long standing licensees, in addition to significant inflow contributions from newer licensees. Growth from HUB24’s retail offer is now comparable with the growth in white label offers.
Total FUA as at 30 September 2015 was $1.98bn, an increase of 92% from 30 September 2014 and 16% for the quarter. This was achieved in a volatile market which recorded a negative return of 8% in the corresponding quarter (ASX200).