Platinum Asset Management

Platinum Asset Management is an Australian asset management company. It has been publicly traded on the Australian Securities Exchange since 2007.[5] It is a constituent member of both the S&P/ASX 200 and S&P/ASX 300 indexes. In 2019, it was ranked by HFM Global as the largest Hedge Fund group in Australia as well as the second largest in Asia-Pacific.[6]

Platinum Asset Management
TypePublic
ASX: PTM
S&P/ASX 200 component[1]
S&P/ASX 300 component[2]
IndustryInvestment management
Founded1994 (1994)
FounderKerr Neilson
Andrew Clifford
Elizabeth Norman
Toby Harrop
Headquarters
7 Macquarie Place, Sydney, New South Wales
,
Australia
Key people
Andrew Clifford (CEO)
ProductsMutual Fund
Hedge Fund
Listed investment company
UCITS
RevenueDecrease A$252.67 million (FY 2022)
Decrease A$101.49 million (FY 2022)
AUMDecrease A$17 billion (Q3 2022)
Total assetsDecrease A$349.76 million (FY 2022)
Total equityDecrease A$323.56 million (FY 2022)
Number of employees
110 (Q2 2021)
Websiteplatinum.com.au
Footnotes / references
[3][4]

History

In 1994, Platinum Asset Management was founded by Kerr Neilson and several others with the financial backing of George Soros.[7] It was founded as a specialist company in international equities.

The success of the company was attributed to the ability to transcend short-term market investment and focus on long-term returns.[8]

In 2007, Platinum Asset Management went public and was listed on the Australian Securities Exchange under the ticker: 'PTM'.[5]

Poor results during the 2012 financial year resulted in a 16 per cent fall in net profit, mainly due to a 14 per cent reduction in investment income. As a result, Neilsen agreed to forego a performance bonus, an increase in his base salary, and neither granted himself nor exercised options.[9]

In 2018, Neilson stepped down as Chief Executive Officer and was replaced by Andrew Clifford who was another co-founder of the company.[10]

Business Overview

Platinum Asset Management mainly operates a funds management business. The company operates through two segments: funds management, and investments and other. Its product range consists of global, regional and sector products for investment.[11]

It has two investment companies listed on the Australian Securities Exchange which are Platinum Capital Limited (ASX: PMC) and Platinum Asia Investments Limited (ASX: PAI). In addition it has two listed funds which are Platinum International Fund (ASX: PIXX) and Platinum Asia Fund (ASX: PAXX).[11]

Platinum Asset Management is headquartered in Sydney, Australia with an additional office in London.[12]

As at 28 February 2021, the company has 107 employees which include 31 Investment professionals.[4]

References
  1. "ASX 200 List of Companies - Directory". www.asx200list.com.
  2. "ASX 300 List - Data for ASX Top 300 Companies". www.asx300list.com.
  3. "Annual Report 2022" (PDF). Platinum Asset Management.
  4. "About Platinum - Platinum Asset Management". www.platinum.com.au.
  5. "Platinum Asset Management shines on ASX". The Sydney Morning Herald. 23 May 2007.
  6. "Hillhouse, Platinum and Value Partners top Asia's Hedge Fund Rankings: Weekly Asia hedge fund news roundup". www.linkedin.com. Retrieved 2021-04-16.
  7. "Taking a punt proves Platinum's mettle". The Age. 2003-12-28. Retrieved 2021-04-16.
  8. "Platinum's Kerr Neilson: it's all about the price". Firstlinks. Retrieved 2021-04-16.
  9. Evans, Michael (17 August 2012). "Neilson axes bonus after hit at Platinum". The Sydney Morning Herald. Retrieved 1 September 2012.
  10. Stewart, Tim (2018-02-22). "Platinum's Kerr Neilson steps down as CEO". www.investordaily.com.au. Retrieved 2021-04-16.
  11. "Platinum Asset Management Ltd, PTM:ASX profile - FT.com". markets.ft.com. Retrieved 2021-04-16.
  12. "Contact - Platinum Asset Management". www.platinum.com.au. Retrieved 2021-04-16.
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