HUB24 Posts Record June Quarter & Annual Net Inflows
Record Net Inflows and growth in FUA
HUB24 achieved a record June quarter with Net Inflows of $979 million and finished the financial year with record annual Net Inflows of $3.9 billion. The company’s growth in FUA continues to be driven by organic opportunities from both existing and new adviser relationships, as well as transition opportunities from other platforms with advisers and their clients seeking to benefit from using our market leading platform.
In the latest available Strategic Insights data³ HUB24 was in 2nd place for quarterly net inflows and maintained its position of 2nd place for annual net inflows across the Australian platform market. Over the 12 months to 31 March 2019, HUB24 increased its platform market share from 0.9% to 1.3%.
This net inflow performance relative to other market participants, coupled with the strength of our business development pipeline and newly secured licensee agreements, presents HUB24 with ongoing opportunities to grow our market share and profitably scale the business.
Quarterly update: June 2019
- Quarter Net Inflows¹ of $979 million (up 32.4% on pcp), with Gross Inflows of $1.5 billion
- Annual Net Inflows¹ of $3.9 billion (up 60.6% on pcp)
- Funds Under Administration (FUA) of $12.9 billion at 30 June 2019 (up 54.3% on pcp)
- HUB24 maintained its 1st place ranking for adviser primary platform advocacy and increased its overall adviser satisfaction ranking to 2nd place in the most recent Investment Trends Planner Technology Report²
- The HUB24 platform continues to grow at the fastest rate in the industry and was ranked 2nd place for both quarterly and annual net inflows in the latest available Strategic Insights data³
- Advisers using the HUB24 platform grew to 1,625 at 30 June 2019 (up 32.4% on pcp) and our strong business development pipeline is expected to support future adviser and FUA growth
- New agreements secured with two large national advice groups, Madison Financial Group and Centrepoint Alliance
- Ongoing innovation and platform enhancement including the completion of our foreign currency development for Managed Portfolios and the launch of Challenger Annuities
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¹ Net Inflows represent gross inflows less outflows and do not include market movement
² Investment Trends April 2019 Planner Technology Report
³ Source: Based on Strategic Insights. Analysis of Wrap, Platform and Master Trust Managed Funds at March 2019. HUB24 is the fastest growing platform provider relative to its size in percentage terms on an annual basis, 2nd highest in terms of annual dollar based net inflows and 2nd in terms of quarterly net inflows.