HUB +2.04%: 3Q22 update out this morning with the investment platform recording net flows of $2.6bn which was up +36% YoY. This was a better outcome than Netwealth (NWL) reported last Thursday with FUA +16% YoY. There was a lot of uncertainty during the period – global conflicts, rising rates, central banks tightening policy etc so in that context we’ve got to applaud HUB for delivering in such a challenging environment. Total funds on the platform of $51.0bn, an increase of +43% YoY plus their non-custodial funds called PARS was +$17.3bn, up +9.7% on this time last year. We have management in tomorrow morning to run through the detail.
MM remains long & bullish HUB
Add To Hit List
