Praemium posts 87% growth in annual inflows

Praemium has reported quarterly inflows of $1.25 billion, including $690 million into its separately managed accounts (SMA) scheme, while its annual inflows stood at $4.9 billion in the calendar year of 2021.

According to the company’s December quarterly update, the annual inflows represented 87% growth compared to the prior year.

It also saw record total funds under administration (FUA) which stood at $49 billion. At the same time, the firm recorded record FUA for its both Australian and international platforms.

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Net inflows for the Australian platform were $937 million and net inflows for its international counterpart stood at $311 million.

Following this, FUA for the Australian platform was $21.1 billion and included $8.5 billion in the Praemium SMA scheme, which represented a growth of 39% compared to the prior year, and $12.6 billion in the Powerwrap scheme.

FUA for international platform went up 58% year-on-year and stood at $6.2 billion for the December quarter.

Source: Praemium

In the announcement made to the Australian Securities Exchange (ASX), the firm said it would continue the implementation of the new features rolled out in early 2022, including new options for advisers in the way they implemented and managed their clients’ investments.

The firm’s chief executive, Anthony Wamsteker, said the divestment of the firm’s international business continued to plan with agreed transactions terms announced to the ASX on 21 December, 2021.

“The proposed transaction is positive for both our Australian and international businesses. We anticipate that both segments can continue with their strong growth trajectories over the coming year,” he said.

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