Platinum Asset Management is an

Australian Australian(s) may refer to: Australia * Australia, a country * Australians, citizens of the Commonwealth of Australia ** European Australians ** Anglo-Celtic Australians, Australians descended principally from British colonists ** Aboriginal Au ...

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

company. It has been publicly traded on the

Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...

since 2007. It is a constituent member of both the

S&P/ASX 200 The S&P/ASX 200 index is a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange. The index is maintained by Standard & Poor's and is considered the benchmark for Australi ...

and

S&P/ASX 300 The S&P/ASX 300, or simply, ASX 300, is a stock market index of Australian stocks listed on the Australian Securities Exchange (ASX). The index is market-capitalisation weighted, meaning each company included is in proportion to the indexes tot ...

indexes. In 2019, it was ranked by HFM Global as the largest

Hedge Fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...

group in Australia as well as the second largest in

Asia-Pacific Asia-Pacific (APAC) is the part of the world near the western Pacific Ocean. The Asia-Pacific region varies in area depending on context, but it generally includes East Asia, Russian Far East, South Asia, Southeast Asia, Australia and Pacific Isla ...

History

In 1994, Platinum Asset Management was founded by Kerr Neilson and several others with the financial backing of

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...

. 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. In 2007, Platinum Asset Management went public and was listed on the Australian Securities Exchange under the ticker: 'PTM'. 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. In 2018, Neilson stepped down as Chief Executive Officer and was replaced by Andrew Clifford who was another co-founder of the company.

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. It has two investment companies listed on the Australian Securities Exchange which are Platinum Capital Limited () and Platinum Asia Investments Limited (). In addition it has two listed funds which are Platinum International Fund () and Platinum Asia Fund (). Platinum Asset Management is headquartered in

Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ...

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

with an additional office in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

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

References

External links

* {{Authority control Australian companies established in 1994 Investment companies of Australia Financial services companies based in Sydney Financial services companies established in 1994 Companies listed on the Australian Securities Exchange 2007 initial public offerings