Netwealth (ASX:NWL) grows FUA by 35%

Company News

by Rachael Jones

Netwealth (ASX:NWL) grew its funds under management (FUA) by 35 per cent over the 2020 financial year, an increase of $8.2 billion to $31.5 billion.

This was driven by record inflows of $9.1 billion for the year.

There were negative market movements of $900 million for the year.

The company said it was expecting to exceed its previous guidance for the 2020 financial year.

Shares in Netwealth (ASX:NWL) are trading 6.36 per cent higher at $9.87.