SEARCH
Praemium FUA reaches $6bn
Praemium FUA reaches $6bn
Praemium has announced its funds under administration hit $6 billion with company chief executive Michael Ohanessian looking to put this year's "board disruption" behind him.
Platform provider Praemium has announced record inflows for the second quarter of 2017 as well as FUA of more than $6 billion for the first time in the company's history.
It has been a turbulent first half for the UK and Australian-listed software company, with chief executive Michael Ohanessian ousted by the board in February only to be reinstated after winning the backing of a majority of shareholders in May.
In a second quarter trading update posted to the ASX yesterday, Praemium announced it experienced record inflows of $554 million for the June 2017 quarter.
The majority ($364 million) was directed towards the Australian business, while $190 million (£113 million) went into the UK platform.
Total FUA for the global business is now $6 billion, up from $5.4 billion in December 2016.
Commenting on the result, Mr Ohanessian said, "The business has accelerated its momentum across the year, with strong growth within the Australian business and a step change in the international business. This is a tangible validation of our underlying growth strategy.
"I'd personally like to thank all staff and management for their dedication and hard work this year. With the board disruption now behind us, we are all very focused on executing our strategy and delivering sustained growth."
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Center
- Investor Daily
- Lawyers Weekly
- Money Management
- Mortgage Business
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- Which Investment Property
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- Mortgage Business Awards
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- The Adviser Podcast Network
- Australian Aviation Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- Mortgage Business Podcast Network
- REB Podcast Network
- Relative Return
- The Smart Property Investment Show
- Space Connect Podcast
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
