HUB24 Limited announced Q3FY23 market update

HUB24 Ltd (ASX: HUB) announced good performance amid prolonged macroeconomic uncertainty and market volatility influencing adviser and client attitude, with AU$1.9 billion in net inflows as of 31 March 2023 (down 28.6% on pcp). Net inflows to superannuation continue healthy, but net inflows to discretionary IDPS have softened in line with market sentiment. Platform FUA stood at AU$59.4 billion as of March 31, 2023, with a positive market movement of AU$1.7 billion for the quarter.

According to the most recent Plan for Life data, the company remains at first rank in quarterly net inflows and has risen to first in yearly net inflows. The company's market share is now 5.85% as of December 31, 2022 (up from 4.9% in December 2021) and it is ranked seventh. Based on yearly net inflows, HUB24 has the fastest growth rate as a proportion of FUA.

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