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Praemium's SMA reaches $200 million

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A bustling end to the financial year has increased Praemium's SMA funds under management inflows to $200 million.
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ncial services group Praemium has seen its separately managed account (SMA) platform inflows double in the past month following a strong end to the financial year.

According to Praemium, the value of the total funds managed in its SMA platform has achieved a new benchmark of $200 million. This is a 100 per cent increase on the company's June figures of $100 million.

"We are very pleased the SMA has reached its second hundred million so quickly after the first, announced on June 18th," Praemium managing director Arthur Naoumidis said.

Praemium provides its SMA technology to Blackrock Investment Managers (Blackrock) after groups signed an exclusive three-year deal in 2005. The deal will be extended beyond the three year mark, Blackrock head of customised portfolio service Cormac Heffernan said.

The latest inflows can be attributed to a particularly buoyant end of financial year activity among financial advisers and their clients, he said.

"The end of the financial year's strong activity has led to an exceptionally large jump of inflows during June," Heffernan said.

There are 56 investment models are available across 30 separate SMA product disclosure statements, including those issued under branding agreements with Citigroup, Merrill Lynch, Tolhurst Noall and Australian Financial Services.

As well as concentrating on its SMA activities, Praemium also plans to roll out its V-Wrap service to a number of external groups within Australia and the UK.
 
Praemium's expansion plans follows the signing of a new deal between the online portfolio administrator and Macquarie Equities.

Praemium supplies V-Wrap and SMA technology to wrap providers, financial planners, accountants, wealth managers, stockbrokers and SMSF administrators in Australia.

 

Praemium's SMA reaches $200 million
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