PPS +11.84%: A good session for the minor in the platform space today delivering a positive quarter for net inflows with: 1) SMA net inflows above our expectations, 2) Spectrum producing maiden quarterly net inflows of ~$70 million, and 3) Powerwrap returning to positive net inflows following five consecutive quarters of net outflows.
Further, momentum seems solid and they’re pushing through price increases which will support margins going forward.
- As a user of Praemium, they’ve lifted their game in recent quarters and the platform is good for portfolios that appreciate greater flexibility of assets held – a message that seems to be resonating.
MM remains bullish PPS
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