Michael Ohanessian
Praemium is pleased to report strong platform inflows in the March 2018 quarter, with combined gross inflows of $671 million, the third highest on record.
FUA for the March quarter of $7.8 billion was up 5.2% on the December quarter of $7.4 billion despite sharp declines in equity markets.
The March 2018 quarter included progress on several strategic initiatives:
- Added 69 new models, an 11% increase, on the Praemium SMA;
- Expanded international models on the Australia SMA with the addition of leading global manager Franklin Templeton;
- Introduced family pricing for the Australia SMA;
Praemium CEO Michael Ohanessian commented, “The March quarter was a tough one for equity markets globally with declining valuations and an increase in volatility. Despite an increase in investor uncertainty, we are pleased that our asset inflows held up and our overall FUA increased 5% over the December quarter.
“For the Australia platform, we are very pleased with the uptake by advisers of our new leading-edge digital acceptance. We have also received positive feedback on family pricing and a number of other key new features released in the quarter. Looking forward, we expect to see considerable interest in the newly launched International SMA. Providing direct holdings for a client’s offshore equity allocation has often been prohibitively expensive compared to using collective structures; however, the efficiency of the Praemium SMA and the fact that we pass on the trade-netting benefits to investors helps make Praemium’s international SMA models economically viable.