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FINWIRES

Praemium Posts Higher Total Funds Under Administration in Fiscal Q3; Shares Up 3%

-- Praemium (ASX:PPS) posted total funds under administration (FUA) of AU$73.7 billion in the fiscal third quarter, up 18% from AU$62.33 billion in the same period last year, according to a Wednesday filing with the Australian bourse.

Platform FUA in the three months ended March 31 rose 7% to AU$32.21 billion from AU$30 billion last year, the filing said.

The platform recorded net inflows of AU$598 million for the quarter, compared with AU$364 million a year earlier, per the filing.

Shares rose nearly 3% in morning trade Wednesday.

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