Praemium is pleased to announce the launch of software functionality for the monitoring and accounting of Self- Managed Super Funds (SMSFs). The new functionality has been built into the V-Wrap non-custodial portfolio administration system and will enable users to ensure fund compliance as well as prepare SMSF annual returns.
V-Wrap is the market’s most comprehensive reporting system for equities portfolios and is the market leader in the automated processing of complex corporate actions. By integrating SMSF functionality into V-Wrap, clients will have a fully integrated solution, and trustees, accountants, administrators and financial advisers will have up- to-date information at their fingertips. The SMSF market comprises over 30% of Australia’s $2 trillion superannuation market*. Praemium’s integrated solution is well positioned given the popularity of direct shares as an asset class for Self-Managed Super Funds.
SMSF monitoring and accounting will also be extended to Praemium’s SMA (Separately Managed Account) platform. Many of the Praemium SMA platform accounts are SMSFs so this new functionality will add considerable value to the services provided.
Commenting on the launch, Praemium CEO Michael Ohanessian said, “This is an important development for Praemium: the prospect of our superior reporting and corporate actions processing engine along with in-built SMSF monitoring and accounting provides a more complete and seamless offering to our clients.
We expect to see considerable take-up of this value-added service from our V-Wrap clients who are managing direct equities portfolios for their SMSF clients. That said, advisers are increasingly turning to SMAs as a more efficient way of providing SMSFs with direct share ownership. By catering to both directly held equities or equities run in an SMA, this new functionality increases the appeal of both V-Wrap and the SMA to the rapidly expanding SMSF space.”
Source: Praemium
