Speaking to International Adviser in London, chief executive Michael Ohanessian said his aim was to buy a SIPP provider by “the end of 2016” to enable the business to take fuller advantage of the exciting changes happening around the retirement space.
He said “an acquisition around the pension market” would sit well with its discretionary platform and CRM solutions, including its in-house separately managed accounts.
In particular, Ohanessian said Praemium’s recently launched in-house Smartfund 80% Protection Fund would be a consideration for retirement investment planning, as the options strategy used by external managers Morgan Stanley smoothed the ups and downs of markets returns.
Praemium acquired software provider Plum Software for a cash consideration of £1m in March year, and prior to that also bought a UK wealth manager for its in-house investment funds proposition.
Established in Australia in 2001, it now manages or administers more than £50bn ($75bn, €71bn) of investments globally across in excess of 300,000 accounts.
As a provider of investment platforms, portfolio administration and CRM solutions, it has offices in Australia, Jersey, Hong Kong and the UK, where it has been present since 2008.
