HUB24 shares up on ASX following its Q1 FY2023 results

HUB24 Limited (ASX: HUB) released its Q1 FY2023 results. Post the announcement, its shares jumped by 13.179% (at AEDT 11:52 AM) and are trading at AU$24.990.

1. September 2022 quarter was another strong quarter of growth with the platforms delivering net inflows of AU$3.0 billion, down 1.6% compared to the previous corresponding period (pcp).
2. Total Funds Under Administration (FUA) during the quarter was AU$68.4 billion, comprising Platform FUA of AU$52.4 billion and Portfolio, Administration and Reporting Services (PARS) FUA of AU$16.0 billion.
3. While platform FUA grew 15.4% on pcp, PARS declined 9.9% on pcp.
4. HUB24 was awarded Best SMSF Investment Platform.

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