Netwealth (ASX:NWL) see their quarter FUA grow $2 billion

Company News

by Rachael Jones

Netwealth (ASX:NWL) released their results for the quarter showing its Funds Under Administration (FUA) grew $2 billion of 8.5 per cent quarter on quarter to $25.3 billion.

This was a 31.3 per cent increase on the prior corresponding period.

Its Funds Under Management (FUM) at September saw an increase of $0.5 billion of 12.6 per cent during the quarter to $4.4 billion.

The company also announced today that Sally Freeman will join the board as an independent non-executive director.

Shares in Netwealth (ASX:NWL) are trading 3.81 per cent higher at $9.26.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.