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Praemium boosts SMSF functionality

In a statement to the Australian Securities Exchange, Praemium has announced it is adding self-managed super fund compliance and enhanced reporting to V-Wrap, its existing portfolio administration system for SMSFs.

The addition will provide real-time management of SMSF member balances and components for the purpose of producing financial and member statements and annual ATO tax returns, in accordance with Superannuation Industry Supervision (SIS) requirements.

“With over 10 years’ experience in providing portfolio administration we are well prepared to deliver a first-class solution to meet the needs of SMSF providers in this fast-growing space,” said chief executive officer Michael Ohanessian.

“By expanding V-Wrap’s capabilities to include full SMSF compliance we will be able to offer our clients a complete SMSF solution.”

The enhancements are targeted for delivery in the second half of 2013.