Praemium flags record quarterly gross inflows across Australia

Company News

by Anna Napoli

Investment platform Praemium (ASX:PPS) has provided a June 2019 quarterly update flagging record quarterly gross inflows across Australia and International of $903 million.

Praemium says it has platform funds under administration (FUA) of $9.53 billion after $405 million net inflows and market movements of $244 million.

Over the June quarter the company continued sign-ups to the Australian integrated platform, including Pitcher Partner’s Wealth Management in May 2019 with client take-on to commence early in this financial year.

The platform also continued to develop a range of product and technology solutions that provide significant improvements to the way advisers deliver advice to their clients including a new ‘Data Exchange’ facility, providing advisers with a streamlined way to manage integrations with cash providers.

Shares in Praemium (ASX:PPS) are trading 7.5 per cent higher at 43 cents.

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