PPS +2.67%: We considered adding the investment platform stock into the Emerging Companies portfolio yesterday, though stayed on the sidelines given our broader market call & the stocks strength. PPS rallied again today on some decent quarterly flow numbers, seeing Funds Under Administration (FUA) up 11% in the quarter, taking the company’s totally to $37.9b. The growth in international holdings was a big driver of the growth, and it is key to the company’s financial performance near term as they push towards breakeven on the international side.
MM is bullish PPS
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