Praemium builds on SMA platform
Portfolio administration provider Praemium has added nine new model portfolios to its separately managed account (SMA) platform since taking it over from BlackRock at the end of last year.
The models are managed by Baillieu Holst, Easton Asset Management, Navin Asset Management and JBWere, which added Australian equities growth and income portfolios, and a listed fixed income portfolio.
According to JBWere executive director of investment services Andrew Tracy, stockbrokers were recognising the broader distribution opportunity of SMA platforms while financial advisers are being attracted by not having to deal with the traditional compliance and administration.
Praemium stated that, since taking over Blackrock's Customised Portfolio Service, its funds under administration have increased 30 per cent to $888 million.
Praemium commercial director Andrew Varlamos said there is "natural efficiency" in being both the operator and technology provider of the platform.
"There's a renewed vigour to grow the market opportunities for us — for Praemium this is a relatively big part of our business, compared to being a small part of a large multinational," he said.
He added that Praemium was committed to a bringing a diversity of models to the platform.
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