Platinum Reduces Fees to Improve Funds Flows; FVE Lowered to AUD 5.50
We lower our fair value estimate for narrow moat-rated Platinum Asset Management to AUD 5.50 per share from AUD 5.90 due to the firm adjusting certain product fees effective July 3, 2017 for new and existing customers. Platinum reduced base management fees and broadened the availability of performance fee fund options with the aim of improving funds flows. Net fund flows disappointed in fiscal 2015, 2016, and first-half fiscal 2017. We are surprised Platinum hasn’t stuck to its guns in terms o...Platinum Asset Management is a non-operating holding company of Platinum Investment Management Limited. Co.'s subsidiary, Platinum Investment Management Limited, trades as Platinum Asset Management, operates a funds management business. Co. has two main operating segments: funds management, and investments and other.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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