Kingston signs Powerwrap’s SMA
West Australian-based investment and advisory firm Kingston Capital will transition around $200 million in assets to investment administration provider Powerwrap’s separately managed account (SMA) service.
The move came following an agreement between the two, which would enable Kingston Capital to offer clients and other licensees an SMA service through Powerwrap’s consolidated platform.
Powerwrap’s SMA service is underpinned by Praemium’s V-Wrap and SMA infrastructure. Kingston Capital already uses Praemium’s V-Wrap for its portfolio administration.
This is the second major SMA service to be based on Praemium technology.
Praemium Group chief executive officer Arthur Naoumidis said the growing number of advisory firms offering SMA services to their clients cemented his previous conviction that “the SMA sector in Australia is becoming firmly established as a key investment administration platform”.
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