Netwealth Group Limited announced December 2022 Quarterly Business Update

Netwealth Group Limited (ASX: NWL) announced December 2022 Quarterly Business Update as follows:

• The company's fund under administration increased by 7.4% to AU$62.4 billion for the December quarter.
• The company's fund under administration gross inflows of AU$ 4.1 billion were partially offset by larger than usual outflows in the high-net-worth investors and mid-market segment for the December quarter.  
• The company's fund under management increased by 7.0% to AU14.4 billion.
• The company's fund under management net inflows is AU$0.4 billion for the December quarter.

The Company highlighted that it is in an excellent financial position.

• It is highly profitable with strong EBITDA margin.
• There is a high correlation between EBITDA and operating cash flow, resulting in strong cash generation.
• It has a very high level of recurring revenue, which results in predictable revenue.
• It has low capex, debt free and significant cash reserves.

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