Praemium upgrades platform
Praemium has announced the launch of a major technology upgrade and a rebrand for its global investment platform which is expected to expand its addressable market in Australia from $62 billion in managed accounts to an $860 billion overall platform market, it said.
The upgrade would aim to include the ultimate unified managed accounts (UMA) solution which would combine the following elements:
- An existing market-leading Separately Managed Accounts (SMA) solution;
- The significant expansion of Individually Managed Account (IMA) solution across a wide range of investment assets; and
- Virtual Managed Account (VMA) reporting solution for non-custodial holdings
Additionally, financial advisers would gain access to an expanded investment universe of 1,3000 domestic and international model portfolio and single investment assets.
Preamium’s chief executive, Michael Ohanessian said that the company managed to combine SMAs bespoke investments in singular experience.
“In addition to new managed accounts options in a single structure and on one integrated technology platform, Praemium has also released a new and intuitive Adviser Portal and dashboard that will save advice businesses time on implementation and administration and enable higher quality client engagement through easy access to rich client portfolio and adviser business information,” he said.
AUTHOR
Oksana Patron
Recommended for you
Clime Investment Management has sold a portion of its retail client book to an external financial planning practice for $1.6 million in its latest cost-out move.
In his inaugural address as L1 Group chief executive, Julian Russell has outlined his vision and priorities for the newly-merged $16.7 billion business but warned fund outflows will continue for 18 months.
Ten Cap has announced it will launch its first active ETF on the ASX later this month, expanding retail access to its flagship Australian equities strategy.
Flows into cash and fixed income ETFs rose by 46 per cent in October with investors particularly demonstrating a preference for Australian credit ETFs as they move away from AT1 bank hybrids.
