PPS unch: 3Q Funds Under Administration (FUA) update from Praemium showed a turnaround in momentum for flows as has been the case across the platforms in recent updates. Total FUA rose to $43.7b, up 8% FYTD, while $223m of net flows were garnered in the quarter. Market performance also helped to boost the numbers, adding $581m in the period, while the bulk of flows came in their SMA product which tends to produce higher margins. Overall a solid update from Praemium which has been turning around performance after selling off its struggling International business.
MM is long and bullish PPS
Add To Hit List
