Platinum Asset Management

Platinum Asset Management announced yesterday that funds under management had fallen from $17.8bn at 30 June 2011 to $15.1bn at 31 December. Continuing weak sharemarkets, short-term fund underperformance, and net outflows are to blame, all of which we flagged as issues in Platinum hopes for dollar dive on 10 Nov 11 (Long Term Buy - $3.75). Weaker funds under management means Platinum is a long way from achieving the results in our ‘roadmap’ from Platinum on the road again (see 13 Jan 11 (Long Term Buy – $4.86)). Platinum also announced yesterday that its net profit for the first...

Platinum Asset Management announced yesterday that funds under management had fallen from $17.8bn at 30 June 2011 to $15.1bn at 31 December. Continuing weak sharemarkets, short-term fund underperformance, and net outflows are to blame, all of which we flagged as issues in Platinum hopes for dollar dive on 10 Nov 11 (Long Term Buy - $3.75). Weaker funds under management means Platinum is a long way from achieving the results in our ‘roadmap’ from Platinum on the road again (see 13 Jan 11 (Long Term Buy – $4.86)).

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