Praemium Ltd
What to look out for as the $800bn investment platform sector feeds on itself
The head of investment platform Praemium (ASX: PPS) Michael Ohanessian sounds like he’s channelling the coronavirus when he says that “like any living organism, any organisation wants to survive.” But in this case, he’s referring to the need for the $800 billion a year adviser platform sector to grow and diversify at a time when […]
Praemium launches $55m takeover bid for Powerwrap to create Australia’s largest financial services platform
Investment administration platform developer Praemium (ASX: PPS) has announced a $55.6 million off-market conditional takeover bid for wealth management business Powerwrap (ASX: PWL). The companies have entered into a bid implementation agreement under which Praemium will acquire all the ordinary full-paid shares in PowerWrap which it does not already hold. The merger is expected to […]
Praemium attracts record annual gross inflows for 2018 financial year
Investment administration platform developer Praemium (ASX: PPS) has reported record annual gross inflows of A$3 billion, spurred by locking-in more key clients and renewals for existing clients during the past 12 months. The record A$3 billion gross annual inflow for the 2018 financial year was 50% higher than the previous financial year. Meanwhile, funds under […]