Praemium, an Australia-based wealth management firm and platform provider, is planning to launch new self-managed superannuation fund functionality at the SPAA conference in Brisbane.

The new software will allow SMSF administrators to manage fund compliance tasks, including tax lodgment within the Praemium’s portfolio administration software (V-Wrap).

Praemium CEO Michael Ohanessian said that this move follows a beta trial in mid-2013 and has been driven by clear feedback from the Praemium client base.

According to Ohanessian, SMSF’s contribute to a large share of investment account on the V-Wrap and Separately Managed Account (SMA) platform.

Ohanessian said: "Our clients use Praemium for the excellence of our investment administration capabilities, but SMSF administrators have historically had to export investment data into third party SMSF compliance packages, often a time-consuming and complex process. Our new functionality will enable all SMSF compliance tasks to be undertaken within Praemium software, obviating the need for data exports.

"We have the market leading technology for portfolio administration. By adding SMSF functionality we will deliver our clients unrivalled efficiencies and performance," Ohanessian added.