An announcement from Praemium Ltd ( (AU:PPS) ) is now available.
Praemium Ltd announced a significant increase in its total funds under administration (FUA) to $62.3 billion, marking a 17% rise from the previous year. The company’s newly launched Spectrum platform saw strong net inflows of $440 million, contributing to its overall platform FUA of $30 billion, a 24% increase. Despite some net outflows in Powerwrap and OneVue, the company remains optimistic about its growth trajectory, with ongoing integration and technology transitions expected to yield synergies by the end of the financial year.
More about Praemium Ltd
Praemium Ltd operates in the financial services industry, offering investment platforms and portfolio administration services. Its primary products include the next generation IDPS Spectrum, Separately Managed Accounts (SMA), Powerwrap, and OneVue, focusing on the private wealth sector.
YTD Price Performance: -6.25%
Average Trading Volume: 1,065,532
Technical Sentiment Signal: Sell
Current Market Cap: A$322.5M
See more data about PPS stock on TipRanks’ Stock Analysis page.