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.
 

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.