More promising news from PPS:

On-market buy-back of ~51m shares

Special fully franked dividend of $0.05 (ex div 26/07/22)

Commencement of a sustainable dividend policy (details to be released soon)

Added more on today's announcement. See below for more detail:

Quarterly flows up 82% ASX Release:

19 April 2022, Melbourne Key results for the quarter:

Praemium is pleased to report its results for the March 2022 quarter, with the key milestones to prior comparative period (pcp) being:

Quarterly net inflows of $725 million (pcp: $398 million, up 82%)

Australia $446 million (pcp: $45 million)

International $279 million (pcp; $353 million)

Financial year to date net inflows of $3.6 billion (pcp: $1.7 billion, up 112%)

Australia $2.6 billion (pcp: $0.9 billion)

International $1.0 billion (pcp; $0.8 billion)

Total funds under administration (FUA) of $47.7 billion (pcp $37.9 billion, up 26%)

Australia Platform $20.7 billion (pcp: $16.9 billion, up 23%)

VMAAS $21.4 billion (pcp: $16.7 billion, up 28%).

VMAAS is Praemium’s non-custodial Portfolio Administration and Reporting Service » International $5.6 billion (pcp; $4.4 billion, up 28%)

PPS is a HIGH RISK buy in my opinion with attractive valuations metrics. Also with the on-going consolidation in the wealth sector PPS is a potential take-over target. (don't buy for this reason only)

PPS first half results which showed has proven to be a transformative with a 69% jump in funds under administration (FUA) to $34.3 billion for its Australian platform while net-profit after tax more than doubled (+113%) to ~$3 million following the acquisition of Powerwrap.

PPS has been a leading innovator with the use of AI as a prime example. A commitment to innovation is being recognised by awards in Australia and the UK with the UK business also on the cusp of profitability.