Partners & interfaces
Praemium Limited - the technology partnership
Powerwrap operates a partnership arrangement with Praemium Ltd that provides business and technology synergies to both companies through a Relationship Agreement.
Founded in 2001, Praemium is an ASX listed company specialising in the manufacture and distribution of portfolio reporting technology to institutional and advisory sectors. Praemium was initially formed to cater for the growing demand from advisors and investors for a specialist portfolio administration service designed to support direct equities.
Praemium’s flagship product is VWrap. VWrap is an online portfolio reporting service, designed for professional accountants, stockbrokers, superannuation administrators and financial planners. Built around a core accounting-strength tax engine, V-Wrap supersedes the traditional wrap platforms by providing superior tax and investment reporting features. With optimised CGT processing at its core, V-Wrap offer advisory markets a suite of tools that makes it simple to maximise clients' after-tax returns.
As a significant scale player in the Australian financial services industry, Praemium reports on more than $26Bn of client assets across 40,000 + portfolios in VWrap, while its proprietary managed accounts technology, deployed through BlackRock investment managers, is rated the Top SMA product in the Australian Industry 2 years running by “Investment Trends” Benchmarking and Technology Report.
Powerwrap’s investment administration platform is based on Praemium VWrap and SMA technology which is built on Microsoft “.NET” technology. Microsoft .NET is a new generation of proven technology based on Web services, or, small building-block applications that can connect to each other as well as to other, larger applications over the Internet. The systems environment combines unprecedented developer productivity with performance, reliability, support and ease of deployment.
For Powerwrap, the Relationship Agreement provides:
1. Limited exclusivity access to Praemium technology and IT development through a licence fee arrangement;
2. Limited exclusivity access to Praemium’s customer base to up-sell Powerwrap functionality to existing V-Wrap clients;
3. Access to institutional deal-flow;
4. Distribution support through Praemium existing channels;
5. The ability to deliver superior product functionality at a price below industry norms; and
6. A scalable business and operational model.
AUSMAQ - managed funds custody and transactions
Formed in 1995, Australian Market Automated Quotation (AUSMAQ) Systems Limited is a wholly owned subsidiary of the National Australia Bank Group and administers over $2.6 billion in wholesale managed funds.
Powerwrap’s arrangement with AUSMAQ provides access to custody and automated transactions for managed funds. The level of automation supports a superior level of access and speed for managed funds processing, while eliminating the operational overheads associated with manual processes.
AUSMAQ clients are major industry participants, including fund managers, wrap platforms, brokers, dealers, advisors and master custodians.
The AUSMAQ relationship offers Powerwrap and its customers effective risk control, seamless operations supported by true straight through processing, and access to a range of more than 650 wholesale managed funds.
