Netwealth Grows Funds Under Administration in September Quarter; Shares Hit All-Time High

MT Newswires Live10-10

Netwealth Group (ASX:NWL) said its funds under administration (FUA) for the September quarter grew AU$7.4 billion to AU$95.4 billion, according to a Thursday filing with the Australian bourse.

Record-level net FUA inflows of AU$4 billion were 94% higher than the prior corresponding period, the filing stated. Funds under management at Sept. 30 were AU$22.5 billion, a AU$2 billion increase for the quarter.

Total number of accounts jumped 2.7% for the quarter to 147,165 at Sept. 30, according to the filing.

Shares in Netwealth Group rose almost 4% in recent Thursday trade and earlier hit an all-time high.

Price (AUD): $27.15, Change: $+0.99, Percent Change: +3.78%

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