Portfolio administration provider Praemium claims to have surpassed $11 billion under administration from Australian self-managed super funds, more than 3 per cent of the $300 billion market.

Of the 32,000 portfolios and $28.5 billion currently administered by Praemium’s online V-Wrap service, it claims 13,200 portfolios speaking for $11 billion are sourced from self-managed super funds. Praemium managing director, Arthur Naoumidis, said that volatile markets would suit his business as they threw the spotlight on to costs. He claimed Praemium’s flat-fee structure made it cheaper than the asset-based fees charged by competitors, particularly given the average SMSF balance administered by Praemium is approximately $1 million. Praemium’s separately managed account business has a more modest $323 million under management, with dealer groups using the service inclusing PIS, Count and AFS.

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