Praemium is pleased to announce that funds under administration (FUA) across Praemium’s global platforms and funds have surpassed $7 billion.
As at today FUA for the Australian business reached $4.53 billion and $2.49 billion (£1.45 billion) for the International business. The addition of $1 billion in FUA, in less than 6 months, follows record inflows in the September 2017 quarter with continuing growth of existing clients and an increasing pipeline of new clients.
Praemium CEO Michael Ohanessian commented, “We are delighted to reach another significant milestone for Praemium. We are growing strongly and remain focused on accelerating our momentum, by investing in the foundations of our business in preparation for further growth. This 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 SMA segment.”
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