Platinum’s Better FUM Growth So Far in 2019 Not Enough to Offset Prior Underperformance, FVE Cut
A transition to a new analyst results in a reduction in narrow-moat Platinum’s fair value estimate to AUD 4.90 per share from AUD 5.50. Although Platinum’s core funds have performed better in the four months to April 30, 2019, we expect the underperformance in the nine months to Dec. 31, 2018 will significantly reduce performance fees in fiscal 2019. That said, the lower fees should be partly offset by a reduction in variable employee expenses. When compared with fiscal 2018, this results in a f...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.
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