Praemium set for SMARTfund launch
Arthur Naoumidis
Software specialist Praemium has received authorisation from the UK financial services regulator, the Financial Services Authority (FSA), to launch a range of risk-based fund of fund portfolios that will be available within its SMARTfund Advantage offering.
Leading UK-based fund research house Old Broad Street Research (OBSR) has been appointed the investment manager for the five new funds.
Praemium group chief executive officer Arthur Naomidis said the OBSR brand was well regarded by the company’s target markets in the UK and was one of the few research houses to supply both qualitative and quantitative investment analysis of funds.
“Achieving this authorisation is the final step in obtaining regulatory approval to launch our new SMARTfund offering. We are now in the final stages of finalising operational readiness to enable us to launch the SMARTfund once the UK summer holiday period has concluded,” he said.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
