Netwealth's (ASX:NWL) funds under administration grows to $38.8 billion

Company News

by Melissa Darmawan

Netwealth's (ASX:NWL) funds under administration grew 14 per cent in the December quarter to $38.8 billion up 36.1 per cent to the prior corresponding period.

The expected FY2021 funds under administration net inflows have increased from their previous announcement from $8.0 billion to the range of $8.5 billion to $9.0 billion.

Founding Chair of all Netwealth companies Jane Tongs has decided to retire after twenty years. Tim Antonie has been appointed as the new Chairman.

Shares in Netwealth (ASX:NWL) are trading 10.8 per cent higher at $17.58