Praemium announces retail super offering

Wealth management firm Praemium has announced the launch of a retail superannuation offering, which is expected to hit the market in February.

Chief executive officer Michael Ohanessian said Praemium SuperSMA [separately managed account] will offer the same advantages of the company's SMA platform, such as control, transparency, cost effectiveness and direct share capability — within a retail superannuation environment.

The announcement came in Premium's quarterly update released on the Australian Securities Exchange (ASX), in which the platform provider also reported a 70 per cent boost in funds on its SMA platform to $1.2 billion over the last 12 months.

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The update was the first one since Praemium acquired the business and took on the role of responsible entity from BlackRock 12 months ago.

"We are delighted with the growth of our Australian SMA platform during our first year as responsible entity," Ohanessian said.

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