Praemium platform launches integration, expanding global fund access
Investment platform Praemium has announced an integration with Clearstream’s platform into Praemium Spectrum, expanding advisers’ access to global funds and greater operational efficiency.
Owned by international central securities depository (ICSD) and post-trade infrastructure and securities services specialist Clearstream, the Vestima platform provides order execution, settlement and safekeeping, and asset servicing, streamlining cross-border fund distribution while ensuring asset safety.
Servicing some 245,000 funds across more than 55 fund markets globally, Vestima has almost €4 trillion in assets under custody.
Through this integration, Spectrum’s advisers will gain access to a broader range of investment options, including international funds which the firm explained are traditionally out of reach to its clients.
It will also see advisers better able to deliver tailored, diversified solutions for clients through simplifying the administration of global assets, easing operational friction and improving portfolio construction flexibility.
Notably, the firm said Vestima will support the transition of selected funds from the OneVue client migration following Praemium’s acquisition of Iress’ platform business in April 2024.
At the same time, Praemium’s investment governance team is reportedly working on expanding its approved product list (APL) to unlock a wider range of global markets for its advisers.
Speaking on the announcement, Praemium chief operating officer James Edmonds said the integration will give the platform’s advisers a “significant advantage” to differentiate their client offerings.
“Praemium is ahead of the curve as one of the only platforms in Australia to offer this capability through Vestima, and it reflects our commitment to innovation and delivering best-in-class solutions,” Edmonds said.
Adding to this, Clearstream Australia Limited chief executive Ravi Subramaniam said: “Vestima delivers secure, efficient execution and custody, backed by Clearstream’s trusted global infrastructure. Its integration into Praemium’s platform streamlines access to international funds for Australian advisors, reinforcing our commitment to supporting the growth of cross-border fund distribution and operational excellence.”
Earlier this year, Praemium announced it had secured $6 billion from Bell Financial Group to run on its Scope+ offering. Bell Potter will now use Praemium’s Scope+ administration solution to administer over 2,200 client portfolios.
The support from Bell Potter represents the firm’s investment in high-value adviser partnerships, it said, which aligns with its strategy to lead in premium wealth solutions and capitalise on the growth of high-net-worth investors.
AUTHOR
Shy-Ann Arkinstall
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