Record Q3 Platform Net Inflows and FUA Milestone Achieved

Highlights:

• HUB24 achieved record Q3 platform net inflows of AU$3.5 billion, up 90% year-over-year.
• Total Funds Under Administration (FUA) reached a significant milestone of AU$100 billion as of March 31, 2024, marking a 30% increase from the previous year.
• Industry recognition includes awards for Best Overall Platform and Best Managed Accounts Functionality in the Investment Trends Platform Competitive Analysis and Benchmarking Report.

Quarterly Financial Update

HUB24 (ASX:HUB) has reported an impressive third quarter for fiscal year 2024, marked by a record-setting AU$3.5 billion in platform net inflows—an increase of 90% compared to the same period last year. This surge includes AU$2.7 billion from continuing operations, up 47% year-over-year, and an additional AU$0.8 billion from the initial phase of the Equity Trustees (EQT) migration program.

Funds Under Administration (FUA) Growth

The company's Total Funds Under Administration (FUA) has reached a new high of AU$100 billion as of March 31, 2024, reflecting a 30% growth from the previous year. This total comprises AU$79.7 billion from the platform FUA, which itself has grown by 34%, and AU$20.3 billion from the Portfolio, Administration, and Reporting Services (PARS), which has seen a 16% increase.

Industry Recognition and Product Enhancements

In a significant nod to its operational excellence, HUB24 was awarded Best Overall Platform along with accolades for Best Managed Accounts Functionality, Best in Reporting, Best Online Business Management, and Best Mobile Platform in the Investment Trends Platform Competitive Analysis and

Benchmarking Report.

Adding to its suite of offerings, the newly launched HUB24 Discover has garnered $75 million in FUA since its inception in November 2023. The platform has also enhanced its service for high-net-worth individuals by integrating non-custodial administration and reporting capabilities for directly held client assets.

Platform Performance and Strategic Progress

The quarter saw robust growth with platform FUA climbing 10% over the period, fueled by both strong inflows and favorable market conditions. HUB24's total adviser count rose to 4,382, marking a 17% increase from the previous year, bolstered by 42 new distribution agreements.

The ongoing EQT FUA migration is proceeding as planned, with AU$0.8 billion successfully transferred in Q3 and an additional AU$1.7 to AU$3.0 billion expected to migrate in Q4, completing the rest in the first half of FY25.

PARS Segment and Client Engagement

The PARS segment has also seen expansion, with the number of accounts rising to 8,362, up 4% year-over-year. Moreover, HUB24 continues to integrate and enhance its platform capabilities, maintaining its commitment to innovation and client satisfaction.

With these robust results and ongoing strategic initiatives, HUB24 remains well-positioned to meet its FY25 FUA target of $92 to $100 billion, anticipating continued growth and market leadership.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com