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Showing 1 - 10 of 101 results for "Powerwrap"

Powerwrap bleeds $334m in outflows

KARREN VERGARA  |  WEDNESDAY, 17 JAN 2024
Praemium's platform dedicated to the high-net-worth segment, Powerwrap, has lost $334 million in funds under administration (FUA) after a small number of financial advisers switched advice groups. The ASX-listed firm said the exit of advisers in the ...

Praemium sees record earnings jump

CHLOE WALKER  |  MONDAY, 27 FEB 2023
... made up of $20.9 billion on its platform (up 7%), $9 billion in separately managed accounts (up 11%), $12 billion on Powerwrap (up 11%), and $21.8 billion in non-custodial holdings (up 4%). Despite the growth, it recorded a 53% decline in overall inflows ...

Praemium extends partnership with largest client

CHLOE WALKER  |  TUESDAY, 14 FEB 2023
Praemium's wholly owned subsidiary Powerwrap has renewed its partnership with Escala Partners for a further six years. Escala Partners is Praemium's largest client, with approximately $7 billion of funds under administration on the Powerwrap platform. ...

Praemium takes 53% hit to inflows

CASSANDRA BALDINI  |  MONDAY, 23 JAN 2023
... (SMA) increased by 11% to $9.0 billion from $8.1 billion. "The December quarter of the 2023 financial year has seen both Powerwrap and Praemium's SMA scheme continue to generate positive net flows," Wamsteker said. "The SMA is our cornerstone product ...

AMG Super hires to distribution team

CHLOE WALKER  |  THURSDAY, 5 MAY 2022
AMG Super has appointed the former head of distribution at Powerwrap to a business development role. Richard Carr is joining the super fund as a business development manager, based in Melbourne. In this role, he will oversee distribution in Victoria ...

Record FUA, revenue for Praemium

KARREN VERGARA  |  MONDAY, 14 FEB 2022
... million loss after achieving a $2.8 million profit in the prior corresponding year. The results reflect the performance of Powerwrap, which was acquired in 2020. Praemium is in the process of selling its international business to Morningstar for $65.1 ...

Praemium reports key milestone achievement for 2021

CHLOE WALKER  |  MONDAY, 17 JAN 2022
... About$8.5 billion of this went into the Praemium SMA scheme, up 39% compared to the prior year, and $12.6 billion was in the Powerwrap scheme, up 22% compared to the prior year. "We are delighted to report continued outstandring momentum this quarter ...

Bitcoin exposure added to platform

ANNABELLE DICKSON  |  WEDNESDAY, 10 NOV 2021
... bitcoin, has launched through Praemium. The Monochrome Bitcoin Fund (MBF) is available to wholesale investors through the Powerwrap product suite. MBF provides access to a pure bitcoin fund via an IDPS-like scheme, supported with complementary research ...

Praemium rejigs executive team

ANNABELLE DICKSON  |  TUESDAY, 7 SEP 2021
... jumped 6% to $12.5 million. The Australian platform FUA recorded 223% growth to $18.38 billion which is attributed to the Powerwrap acquisition. Inflows were up 149% at $2.6 billion. "With the acquisition of Powerwrap and investment in sales, service ...

Praemium FUA doubles, profit slips

ANNABELLE DICKSON  |  MONDAY, 16 AUG 2021
... dropping 1% to $14 million. The Australian platform FUA recorded 223% growth to $18.38 billion which is attributed to the Powerwrap acquisition. Inflows were up 149% at $2.6 billion. Meanwhile, the international platform, which is up for sale, recorded ...
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