Australia's Praemium gains as inflows, funds under administration rise

PPS International (Holdings)

19/04/2022 02:21

** Shares of investment management platform provider
Praemium Ltd  PPS.AX  rise as much as 16.1% to A$0.720, on track
for their best day since Nov 2, if gains hold 
    ** Firm reports total funds under administration of A$47.7
bln ($35.09 bln) as of March end, up 26% on the year 
 urn:newsml:reuters.com:*:nASX2JgWXx 
    ** Says it saw net inflows of A$725 mln for the quarter
ended March 2022, 82% higher than a year earlier 
    ** Stock hits highest level since April 1
    ** As of last close, Praemium stock down 57.8% this year

    ($1 = 1.3594 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))