Financial Wire

Netwealth Group Reports Growth in March Quarter Funds Under Administration; Shares Jump 6%

-- Netwealth Group (ASX:NWL) reported funds under administration (FUA) of about AU$125.79 billion at the close of the March quarter, up almost 21% from AU$104.08 billion at the end of the same quarter a year earlier, according to a Thursday filing with the Australian bourse.

FUA net flows for the March quarter were AU$3.96 billion, compared with AU$3.51 billion a year earlier, per the filing.

Meanwhile, the total number of accounts increased by more than 13% year over year to 176,675.

The company's shares jumped almost 6% in recent Thursday trade.

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