Investment technology provider Praemium is aiming to raise between $15-25 million when it lists on the ASX near the end of March this year, according to Warren Gibson, group spokesperson.
Gibson said the capital-raising is necessary to lift Praemium “to the next level” with the company planning an expansion to the UK where “several parties” have expressed an interest in its offerings. He said the Praemium board, which includes industry stalwart Don Stammer, is well on the way to determining its listing strategy and is “going through a few things” right now. Praemium is a ‘virtual wrap’ and technology provider for separately managed accounts (SMA), which has gained much support from the financial planning and accountancy markets for its functionality and its flat-fee structure for investment administration. The company provides the technology for the Merrill Lynch SMA which hit the Australian market last year and promised a total admin and MER of under 1 per cent. Gibson said several other fund managers are also looking at creating SMA’s with Praemium. Praemium launched only three years ago and has grown from a staff level of five to 20.
The $34 billion Brighter Super is set to shift around $10 billion of assets from passive to active management. Chief investment officer Mark Rider says the move is possible because of scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
