ASX-listed managed account provider Praemium has appointed OneVue to provide superannuation administration services.
Praemium has $5 billion in separately managed account (SMA) assets, according to the firm’s managing director Michael Ohanessian.
The new partnership with OneVue will enable Praemium to increase the scale of its business, he said.
OneVue managing director Connie Mckeage said the agreement with Praemium will add 2,700 individual members and $425 million in assets to OneVue’s superannuation service.
“Praemium has been a great company to work with as both groups have been aligned in their visions to create a better superannuation experience for Praemium's superannuation members,” Ms Mckeage said.
The partnership with Praemium follows OneVue’s announcement last week that it had won a contract to provide unit registry services to NAB Asset Servicing.
Praemium, which is dual-listed in the UK and Australia, announced the acquisition of UK pension provider Wensley Mackay Limited on 1 November 2016.
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