HUB24 Ltd (ASX:HUB) shares have been one of the stars of the ASX 200 today, hitting their highest level since November after the platform delivered a record quarter of net flows.
Net flows totalled $5.6 billion in the December quarter, up 41% year-on-year and 8% quarter-on-quarter excluding large transitions, beating Citi and consensus forecasts by 17%–23%.
Q2 FY26 Highlights
- Record quarterly Platform net inflows of $5.6 billion (up 2% on pcp and up 42% excluding large migrations)
- Record half-year Platform net inflows in 1HFY26 of $10.7 billion (up 13% on pcp)
- Total Funds Under Administration (FUA) reached $152.3 billion as at 31 December 2025 (up 26% on pcp), comprising Platform FUA of $127.9 billion (up 29% on pcp) and Portfolio, Administration and Reporting Services (PARS) FUA of $24.4 billion (up 11% on pcp)
- Announced development of an Innovative Lifetime Retirement Solution (IRIS) with TAL
- Commenced development of myhub leveraging HUB24 Group capabilities to address productivity challenges for advice practices
Citi analyst Siraj Ahmed said positive market movements also surprised on the upside, adding $368 million to funds under administration and lifting total FUA to $127.9 billion, about 1% ahead of consensus expectations.
Adviser growth was modest, with net additions of 48 during the quarter, while distribution agreements were broadly in line with historical averages.
“With strong trading activity and flows on track to exceed $20 billion for FY26, we see potential for mid-single-digit consensus NPAT upgrades,” Ahmed said.
Shares were last up 2.49% to $100.650.