Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Praemium passes FUM milestone

praemium/people-and-products/

15 November 2017
| By Staff |
image
image image
expand image

Publicly-listed financial services technology firm, Praemium has announced that funds under management (FUM) across its global platforms and funds has passed the $7 billion mark.

The company announced on Monday that FUM for the Australian business had reached $4.53 billion, while that for the international business had reached $2.49 billion.

It said this had been bolstered by $1 billion in FUM in less than six months following record inflows in the September quarter with continuing growth of existing clients and an increasing pipeline of new clients.

Praemium chief executive, Michael Ohanessian said the company was delighted to have reached the milestone.

“The investment in growth, particularly in technology, product, sales and marketing, will see us deepen engagement with our existing clients as well as expand the addressable market beyond the rapidly growing separately managed account (SMA) segment,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

2 days 23 hours ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 6 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

4 weeks 1 day ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

5 days 17 hours ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

2 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND