Australia's Praemium hits near 5-week low on quarterly net outflows
17/01/2024 03:00
** Shares of Praemium PPS.AX fall as much as 3.9% to
A$0.375, their lowest since Dec. 14
** Investment management platform co reports net outflow of
A$175 mln ($115.17 mln) for the December quarter, compared with
net inflow of A$357 mln a year earlier
** Says quarterly gross outflows A$1.29 bln and inflows
A$1.11 bln
** PPS shares are down even as total funds under
administration rose 12% to A$48.3 bln
** Stock flat this year, as of last close
($1 = 1.5195 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))