Fintech company, Praemium Ltd
(ASX:PPS), has reported inflows of $494 million for the September quarter. The company says these are its “highest inflows” on record.
The company also says its overall funds under administration are over $5 billion due to positive equity market movements and improved trading conditions in the September quarter.
Praemium’s funds under administration grew 35% over the past 12 months. This comprises 31% annual growth for its Australian business and 46% annual growth for its international business.
The company also says its “Smart Investment Management” assets were up 60% on last year to £288 million.
Praemium reported a net profit of $779,000 at 30 June 2016.
