HUB+6.24%: A new all-time high for the investment platform today after they reported reported platform net inflows for the fourth quarter that were ahead of expectations, and importantly, they’re beating their largest rival NWL to the honey pot:
- Platform net inflows A$5.32 billion, +6.9% y/y
- Total FUA A$136.38 billion, +30% y/y
- Platform FUA A$112.72 billion, +34% y/y
- Number of advisers 5,097, +13% y/y
There was a large transition of funds from Equity Trustees during the period, with most thinking it was going to equate to less than $1bn, yet it equated to ~$1.2bn, and this drove the bulk of the beat, though underlying flows of $4.1 billion were still mildly ahead of consensus.
On a 12-month view, this takes total new FUA flows to $A19.8bn, then growth in the market does the rest. HUB is scaling so well, with shares trading above $100 for the first time today.
MM remains long and bullish HUB
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