Highlights
Record Net Inflows (note 1) in the September quarter of $171m and record Gross inflows of $199.4m;
Funds Under Administration (“FUA”) increase of 20.7% from $853.8m at 30 June 2014 to $1,030.8m at 30 September 2014;
38 new advisers and 3 new licensees (dealer groups) using HUB24 during the quarter;
Completion of the Paragem acquisition;
New non-custody asset reporting and choice of broker software developments completed;
Addition of Zurich to HUB’s insurance panel;
HUB24 selected for BRW’s top 50 most innovative companies for 2014.
Strong start to FY15
HUB24 enjoyed record Net and Gross Inflows in the September quarter as a result of strong support and engagement from new and existing clients. The flows include growing support for the HUB24 white labels for major clients launched during FY14 and flows from more recently introduced boutique licensees to HUB’s retail offering. Monthly average net inflows for Q1 FY15 have increased to $57m from $32.8m average monthly net inflows for FY14.
There are now 38 active licensees using HUB24’s superannuation and IDPS platform and this is an increase of 11 since July 2013. These new groups contributed $60m to the increase in FUA for the quarter. The number of active advisers using the platform increased by 38 during the September quarter largely being authorised by HUB24’s white label licensees.
Having reached $1bn in FUA at 4th September 2014, growth has continued with FUA reaching $1.03bn at 30 September 2014 (net of market movement) which is an increase of 20.7% since 30 June 2014.
Notes
1 Net Inflows represents gross inflows less outflows during the period and does not include market movement.
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