Australia's HUB24 hits near one-month high as funds under administration climb
BUZZ-Australia's HUB24 hits near one-month high as funds under administration climb Updates
** HUB24's HUB.AX shares rise as much as 5.9% to A$68.345, their highest level since September 24
** Investment platform reports total funds under administration of A$168.6 billion ($117.73 billion) as at September 30, up 15% from a year earlier
** Logs platform quarterly net inflows of A$4 bln
** "Considering flow risks were skewed to the downside given the volatile macro backdrop and NWL'S (Netwealth's) softer 1Q flow print, the outcome is 'better than feared'" - UBS
** Stronger adviser growth should continue to support future flow prospects, UBS adds; lifts PT to A$77.75 from A$77.35 and retains "neutral" rating
** YTD, stock down over 30%
($1 = 1.4320 Australian dollars)
(Reporting by Shruti Agarwal and Paridhi Minda in Bengaluru)
((Paridhi.minda@thomsonreuters.com; Shruti.Agarwal@thomsonreuters.com))
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