HUB24 reports flat inflows
Leading platform HUB24 has reported flat inflows in both quarterly and year to date terms, in its latest update filed to the Australian Securities Exchange (ASX).
The company said platform net inflows of $2.8 billion for the December quarter were broadly flat and down 23.6% on the record inflows achieved in the second quarter of last year.
It said net inflows for the first half of the current financial year of $5.8 billlion were down 13.6% on the prior corresponding period.
However, the company said that in the context of current market dynamics and macroeconomic events, the business had achieved a strong first half.
The ASX announcement said that platform funds under advice was $55.8 billion as at 31 December, last year, up from $50 billion for the same time in 2021.
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