POWERED BY MOMENTUM MEDIA
VMA admin service grows 15-fold in six months
Praemium’s non-custodial Virtual Managed Account (VMA) Administration solution has hit $6 billion in funds under administration (FUM), just 18 months since its launch.
Ten clients now use the service, accounting for over 4,000 portfolios, which represented a 15-fold increase since last December. The addition of two large clients this April, Morgan Stanley and Shaw & Partners, helped reach this milestone, with both clients now being live.
“Offering admin services for VMA accounts is another step in the evolution of managed accounts solutions,” Praemium chief executive, Michael Ohanessian said.
The service was launched to support Praemium’s non-custodial VMA solution, which currently had over $100 billion in assets.
Recommended for you
Australian Ethical has named its new head of equities, who previously spent 12 years at Perpetual.
The country’s sovereign wealth fund has unveiled a flurry of changes to its leadership team, including the appointment of a key executive role.
With Damian Graham stepping into a new capacity within the $190 billion super fund ahead of his retirement, a global search is set to commence for his replacement.
Cbus has swiftly promoted Leigh Gavin to chief investment officer only months after naming him deputy, as the fund works towards growing in size and bringing its investment expertise in-house.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
74.26 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
