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Hub24 adding $1b in investor funds each month

Aleks Vickovich
Aleks VickovichWealth editor

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Wealth management technology firm Hub24 added $3.6 billion in investor funds to its various platforms in the December quarter, buoyed by a $350 million injection from competitor IOOF.

The ASX-listed fintech experienced record inflows over the three-month period, taking its total net inflows for the half-year to $6.7 billion and total funds under administration to $68.3 billion. It grew its market share to 4.6 per cent, up from 4.3 per cent in June.

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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/hub24-adding-1b-in-investor-funds-each-month-20220119-p59pdm