NetWealth is a significant player in the Australian wealth management sector, with its funds under administration (FUA) reaching $80.8 billion as of February 16, 2024.
Understanding NetWealth's Scale
NetWealth's size is primarily quantified by its Funds Under Administration (FUA), which represents the total value of assets managed or administered on behalf of its clients. This metric is a key indicator of a financial platform's scale and market presence.
Key Growth Metrics
NetWealth has demonstrated robust growth in its FUA, reflecting its expanding client base and asset inflows. The table below outlines its recent FUA performance:
| Metric | Value | Date/Period |
|---|---|---|
| Funds Under Administration (FUA) | $78 billion | End of 2023 |
| FUA Growth | 24.9% | Over the year 2023 |
| Current FUA | $80.8 billion | As of February 16, 2024 |
Insights into Growth: NetWealth achieved impressive growth, with its FUA increasing by 24.9 per cent throughout 2023, concluding the year at $78 billion. This strong momentum continued into the new year, pushing its FUA to $80.8 billion by mid-February 2024, highlighting its consistent expansion.
Market Position and Significance
NetWealth stands as a prominent and expanding entity in the Australian wealth management sector. Its substantial Funds Under Administration figures demonstrate its significant market share and competitive standing among platform providers, reinforcing its position as a leading financial services company.
