HUB24 has received net inflows of $2.8 billion in Q2 FY23, down 23.6 per cent compared to record inflows achieved in Q2 FY22, according to the platform provider.

In a quarterly business update presented to the ASX, it said net inflows for the first half year of FY23 are $5.8 billion, down 13.6 per cent from the first half of the previous financial year.

Total funds under administration is $73 billion at the end of the year, which includes platform FUA of $55.8 billion. The portfolio, administration and reporting services (PARS) held $17.2 billion.

Migration of the discontinued Xplore Super Admin business are now “substantively” complete.

The number of accounts across Class Super, Class Portfolio and Class Trust has remained stable, up 1.2 per cent since HUB24’s acquisition of the service in March last year.