Praemium, an Australia-based wealth management firm, is planning to launch a new version of its separately managed account (SMA) platform, the Premium SuperSMA, for the retail superannuation enviornment in February 2014.
The new Praemium SuperSMA will offer increased control, transparency, cost effectiveness and direct share capability within the retail superannuation space, in addition to lowest trading costs in the market.
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The new platform will also include the offerings of the current Praemium SMA platform.
Furthermore, Praemium has reported a 70% rise in funds on its SMA platform in 2013.
Praemium CEO Michael Ohanessian said: "We are delighted with the growth of our Australian SMA platform during our first year as responsible entity. The inherent advantages of running model portfolios are generating considerable interest within the wealth management industry and, as SMAs are the ideal vehicle for this purpose, we see considerable upside potential."
The company said: "This change was from continued investment in the business to support medium-term growth, combined with the timing of annual supplier payments and seasonally lower receipts within the December quarter."
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By GlobalData
