Investing.com– Shares of Australian wealth management platform Hub24 Ltd (ASX:HUB) jumped on Tuesday after the company reported record quarterly net inflows and announced strategic advancements.
HUB24 announced record platform net inflows of A$5.5 billion ($3.45 billion) for the second quarter of fiscal 2025, a 23% year-on-year increase.
The company’s total funds under administration (FUA) reached A$120.9 billion as of December 31, 2024, a 33% rise compared to the prior corresponding period.
The stock jumped nearly 15% to A$74.92, its highest level since early December.
The report also highlighted strategic initiatives including a pilot program for its advanced reporting tool “Engage” and the planned migration of ClearView WealthFoundations’ A$1.3 billion in FUA to HUB24 Super in the second half of fiscal year 2025.
The company also reaffirmed its fiscal 2026 platform FUA guidance, set between $115 and $123 billion, underlining confidence in its growth trajectory.
