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Praemium Achieves Record Inflows worth $1.7 Billion

Praemium Achieves Record Inflows worth $1.7 Billion
Jan 18, 2016 By Simon Herrmann Tags: PPS

Praemium Limited (ASX:PPS) announced that the company has achieved a record gross inflow of A$1.7 billion for 2015, which is 33% more than the previous year.

Praemium provides technology platforms for investment administration, separately managed accounts (SMA) and financial planning services. The company is based in Melbourne and administers over 300,000 investor accounts and currently provides services to approximately 900 financial institutions and intermediaries.

The company stated that gross inflows into its platform and managed funds were A$439 million for the December quarter, which was the third highest level the company acheived in the past three years of operations. Praemium’s funds under administration (FUA) as at 31 December 2015 have reached $4.5 billion, which represents a 41% increase over the previous year.

Praemium’s Chief Executive Officer Mr. Michael Ohanessian commented on the company’s growth strategy: “We are obviously delighted with another record year for asset inflows across our business. The company continues to grow strongly with assets under administration increasing 12% over the September quarter to $4.5 billion. The shift to managed accounts in Australia is accelerating and our proven track record in Separately Managed Accounts continues to enable us to win new business.  The pipeline of business is particularly strong and our team is working hard to support our new and existing clients as they transition business to our more efficient SMA platform.”

The CEO further added that he is particularly pleased with the progress made by the company’s London-based team as the growth in FUM acheived by the multi-asset strategies is helping drive margin and scalability in the business.

PPS closed on 15th January 2016 at $0.30 and has gained more than 36% in the past 12 months.

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Simon Herrmann Author: Simon Herrmann Jan 18, 2016

Simon is a financial analyst at independent research firm Wise-owl specialised in small-mid cap growth opportunities and ethical investment opportunities. Simon's aim is to disrupt the cliché approach to investment decision making as he believes that socially and environmentally responsible behaviour is a necessity to long-term wealth creation. Simon has a deep fundamental understanding of the global financial landscape and has compiled 300+ research reports, valuations and corporate appraisals. Simon is commonly featured in major media outlets and his research is published weekly in The Australian.

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