NWL has issued its latest quarterly business update and future prospects

Netwealth Group Limited (ASX: NWL) has released its quarterly business update and outlook:

During the June quarter, the Funds Under Administration (FUA) experienced a significant increase of AU$4.4 billion, reaching a total of AU$70.3 billion. This growth can be attributed to FUA Net Inflows amounting to AU$3.2 billion and positive market movement totaling AU$1.2 billion.

Business update and outlook

• It achieved remarkable progress during the June quarter, forging valuable collaborations with advisors and licensees. This achievement has bolstered its belief in the potential for new business opportunities and the steady growth of its transition pipeline.

• Despite witnessing robust inflows in the quarter, the prevailing economic uncertainty and its impact on investor sentiment have caused delays in committed transitions and new business endeavors for its existing clients.

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