The investment platform business is targeting $100 billion in funds as it draws financial advisers and self-managed superannuation investors to its offering.
It will buy back $50 million of shares on-market.Investment platform business Hub24 says strong profit growth means it can fund a share buyback worth up to $50 million over the next 12 months as it aims to attract more self-directed superannuation investors and financial advisers.Oscar Colman
Chief executive Andrew Alcock expects more growth and investment in financial 2024, but did not provide specific financial guidance other than to target total FUA between $92 billion and $100 billion by financial 2025. Hub24 estimated the total Australian investment platform market spanning superannuation and direct investing was worth $982 billion, and its market share was about 6 per cent.
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