Praemium nets another deal
By Stephen Blaxhall
Monday 5 November 2007
Fledgling investment advisory firm Evans & Partners has asked Praemium to provide the front and back office software services to its business.
The new Melbourne-based group, set to launch tomorrow, has been set up by former Goldman Sachs JB Were head of retail and institutional broking David Evans.
On Friday, Praemium announced it had won a preferred supplier agreement with UBS Wealth Management to provide its V-Wrap portfolio service to the Swiss group.
V-Wrap has more than $26 billion funds under administration through 32,000 portfolios and around 350 current client firms.
The group's separately managed account has more $233 million in funds under management with over 50 firms having signed up.
In the September, Praemium reported a full-year net loss of $10 million for 2006/07, but showed an 87.7 per cent increase in revenue.
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