Why the Praemium (ASX:PPS) share price has rocketed 11% today // The Motley Fool Australia

The Praemium Ltd (ASX: PPS) share price jumped up over 11% following this morning’s release of the company’s December 2020 quarterly update. 

Praemium offers a managed accounts platform that supports financial advisers, investment managers, institutions, accountants and product providers to administer their investments across more than 500,000 accounts.

Let’s take a closer look at today’s results.

Record breaking inflows boost the Praemium share price

The Praemium share price took off after the company announced $1.1 billion of inflows for the quarter ended December 2020. Compared to the December 2019 quarter, this is a whopping gain of 128%.

Praemium’s funds under administration (FUA) increased 10% during the quarter to…