HUB +2.12%: Some good news on a tough day for stocks with investment platform HUB 24 announcing a very strong quarterly Funds Under Administration (FUA) update with a another record period of flows. For 2Q22 net flows were +$3.6bn which was a material beat to our Shaw Analyst James Bisinella’s estimates of $2.4bn (+$1.2bn). Platform FUA is now at $50.0bn (+128% YoY) or $68.3bn including PARS (+118% YoY), supported by strong net flows and market movements with the XAO +2.0% QoQ. A total of 28 new licensee agreements were signed during the quarter, a strong result and broadly in line with 1Q22.
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Performance update for March, stocks that drove returns & our current positioning
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Tuesday 23rd April – ASX200 +26pts, Northern Star (NST), Chrysos (C79), Brambles (BXB)
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Market Matters Research Lead Shawn Hickman with David Koch
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Tuesday 23rd April – DOW up +253pts, SPI up +19pts
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MM remains bullish HUB
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