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Praemium Ltd ( (AU:PPS) ) just unveiled an update.
Praemium Ltd reported a record increase in its total funds under administration (FUA) to $64.3 billion, marking a 12% rise from the previous year. The company’s Spectrum platform saw significant net inflows, contributing to a robust quarter despite outflows in other areas. The transition of assets from OneVue to Praemium’s platforms is progressing well, with nearly half of the FUA already moved. The company remains optimistic about its growth prospects, although it acknowledges the impact of high outflows from transitioning advisers and OneVue on its net flows.
The most recent analyst rating on (AU:PPS) stock is a Buy with a A$0.75 price target. To see the full list of analyst forecasts on Praemium Ltd stock, see the AU:PPS Stock Forecast page.
More about Praemium Ltd
Praemium Ltd operates in the financial services industry, providing investment platforms and portfolio administration services. Its primary products include the Integrated Discretionary Portfolio Service (IDPS) Spectrum, Separately Managed Accounts (SMA), and Powerwrap, with a focus on enhancing technology offerings and transitioning assets to its proprietary platforms.
Average Trading Volume: 1,157,325
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$365.5M
See more insights into PPS stock on TipRanks’ Stock Analysis page.