Highlights

  • HUB24, GDG and Challenger delivered one-year share price gains of approximately 39%, 68% and 57% respectively.
  • Each company reported increased activity across funds, inflows, or sales during recent quarterly updates.
  • The Financials sector outperformed the broader ASX 200 index during 2025.

The S&P/ASX 200 Financials Index recorded a 7.97% increase in 2025, exceeding the broader S&P/ASX 200 Index (ASX: XJO), which rose 6.8% over the same period. Within the financial services sector, HUB24 Limited (ASX:HUB), Generation Development Group Ltd (ASX:GDG), and Challenger Ltd (ASX:CGF) delivered share price gains well above both benchmarks.

Company ASX Code Current Price (AUD) Today's Change 1-Year Return
Challenger Ltd CGF 9.51 +0.10 (1.06%) 57.71%
Hub24 Ltd HUB 96.3 +0.05 (0.052%) 39.79%
Generation Development Group Ltd GDG 5.87 −0.02 (0.34%) 69.16%

HUB24: Platform Inflows and Administration Growth

HUB24 reported record activity during the first quarter of FY26, underpinned by increased adviser engagement and platform usage. Quarterly net inflows reached a record AUD 5.2 billion, representing a 28% increase compared with the prior corresponding period.

Total funds under administration (FUA) rose to AUD 146.5 billion as at 30 September 2025, up 30% year-on-year. This included platform FUA of AUD 122.0 billion, up 33%, and portfolio administration and reporting services (PARS) FUA of AUD 24.5 billion, up 14%.

During the quarter, HUB24 ranked first for both quarterly and annual net inflows and moved to sixth position by FUA among platform providers.

Generation Development Group: Inflows and Client Expansion

Generation Development continued to integrate its independent investment operations during the September quarter, while maintaining service delivery to clients. The company reported record net inflows exceeding AUD 2.0 billion, representing a year-on-year increase of more than 36%.

Client activity increased during the quarter, with eight bespoke SMA and MDA solutions launched and additional clients secured. Several new schemes are scheduled to go live progressively over the next two quarters.

GDG also finalised a collaboration with Vanguard, delivering a core-satellite portfolio solution for the Australian market. Platform access for its SMA solutions expanded further, and progress continued on the agreement with HUB24 to transition investment oversight and MDA administration services from March 2026. The potential funds under management associated with this transition exceed AUD 1.0 billion.

Challenger: Annuity Sales and Capital Position

Challenger released its first-quarter update, reporting total Life sales of AUD 2.5 billion, an increase of 4% for the period. Lifetime annuity sales reached AUD 320 million, up 16%, while fixed-term annuity sales increased 29% to AUD 1.1 billion. Japanese sales totalled AUD 246 million and were stable for the quarter.

Annuity net book growth was AUD 415 million, representing a 2.5% increase for the quarter. Challenger Life reported a PCA ratio of 1.58 times, and group assets under management totalled AUD 120.9 billion at quarter end. Funds management FUM were reported at AUD 109.6 billion.