Praemium Limited’s Rise on Strong Inflows

Praemium Limited (ASX: PPS) has recorded strong platform annual inflows which drove Funds under Administration (FUA) past $8 Billion in the June 2018 quarter. The company’s combined quarterly gross inflows were of $760 million, the third highest on record, which was 34% higher than the prior year’s corresponding period (pcp). Australian gross inflows of $566 million and International gross inflows of $194 million were the third highest and the fourth highest on record respectively. Record annual gross inflows of $3.0 billion, were 50% higher than the prior financial year and Funds under administration were up 35% on last year to $8.3 billion.

Praemium to sell its Smartfund range of funds directly to the United Arab Emirates (UAE) markets, with one of the largest UAE banks as the local promoter, Mashreq Bank, has attained regulatory approval. To provide Portfolio based reporting solutions, Praemium signed a 5-year contract with CMC Markets Stockbroking Ltd. and a 2-year extension with JBWere to continue to provide portfolio technology solutions to their wealth management operations.

The company will see growth in future periods as it continues to see SMA opportunities and a growing pipeline of portfolio. The stock is currently trading at a market price of $0.957 and has seen a daily change of $0.097 or 11.3% in terms of percentage as at July 12, 2018 before market close. The performance change or a rise of 120.51% has taken place over the past 12 months period.


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