Praemium posts 26% FUA increase

Praemium posts 26% FUA increase

The listed managed accounts platform has enjoyed a healthy spike for the March quarter.

On Tuesday, 19 April, Praemium reported quarterly net inflows of $725 million in the latest quarter, up 82 per cent from the previous corresponding period (pcp) of $398 million.

$446 million of that figure came from Australia, while the remaining $279 million came internationally.

Financial year-to-date net inflows also surged from $1.7 billion in March 2021 to $3.6 billion, an increase of 112 per cent.

Praemium also confirmed total funds under administration (FUA) of $47.7 billion, which was yet another increase for the company, up 26 per cent from $37.9 billion last year.

CEO Anthony Wamsteker said on Tuesday that he was delighted with the results, saying that it shows Praemium is delivering on its strategy to become one of the biggest independent specialist platform providers in Australia.

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Source: Praemium posts 26% FUA increase – InvestorDaily