Dona Ferentes
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Rather, it is like a switch from the dodgem cars to the roller coaster
PTM - Platinum Asset Management
- Thread starter investforwealth
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Rather, it is like a switch from the dodgem cars to the roller coaster
Garpal Gumnut
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The problem that PTM and MFG face now is one that I am sure we have all faced, I have anyway, a big hit to FUM.
The attendant loss often leads to a lack of confidence and the triumph of fear of loss over fear of missing out, at least temporarily. And temporary with funds is a 2-3 year vista.
So their analysts will be punished for further losses coming through in their portfolios, thus leading to further conservatism and hesitant play.
Adding to this is the market which is vastly overpriced in stocks which recently have attracted investment by these two cripples, tech and financials. While not seeing a crash, yet, I can see the market trading sideways for a while.
So are they cheap at the moment?
I for one do not know to be honest.
gg
The attendant loss often leads to a lack of confidence and the triumph of fear of loss over fear of missing out, at least temporarily. And temporary with funds is a 2-3 year vista.
So their analysts will be punished for further losses coming through in their portfolios, thus leading to further conservatism and hesitant play.
Adding to this is the market which is vastly overpriced in stocks which recently have attracted investment by these two cripples, tech and financials. While not seeing a crash, yet, I can see the market trading sideways for a while.
So are they cheap at the moment?
I for one do not know to be honest.
gg
Dona Ferentes
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Dona Ferentes
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and a multi-year low for the Fund Manager headstock.
Garpal Gumnut
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Divorce of major stakeholders never leads to a good ending.
Ask any ole Hamish picking up cigarette butts around Circular Quay.
gg
Dona Ferentes
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yes , i bought a few PTM , last week
and am willing to buy more cheaper ( but CAREFULLY ) i still expect a major financial disruption in the future , and plenty government regulation changes ( sadly )
and am willing to buy more cheaper ( but CAREFULLY ) i still expect a major financial disruption in the future , and plenty government regulation changes ( sadly )
Garpal Gumnut
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Does anyone know whether Kerr Neilson's ex-missus has sold all her PTM shares yet. ?
gg
gg
Dona Ferentes
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I believe so; It should be in the narrative of this thread. (too busy / uninterested to check)
Dona Ferentes
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Regal Partners has disclosed a 5.5 per cent stake in Platinum after the closing bell on Tuesday, fuelling speculation about its intentions regarding the fund manager.
The view is that Phil King, the equities market player behind Regal Funds Management, is looking to be trying to engineer a takeover of Platinum Asset Management without bidding himself.
King says he will not be making a bid for Platinum. But he would not be surprised if the $1 billion asset management company loses its independence.
The view is that Phil King, the equities market player behind Regal Funds Management, is looking to be trying to engineer a takeover of Platinum Asset Management without bidding himself.
King says he will not be making a bid for Platinum. But he would not be surprised if the $1 billion asset management company loses its independence.
Garpal Gumnut
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i hold PTM ( and PAI )
would have to see the folks aiming to take control ( with or without a complete buyout )
Geoff Wilson would have to be a name that springs straight to mind but SOL has been expanding ( although am not too sure if SOL is so keen on international exposure ) , but there would be other players if the price is right ( an on-market/controlling stake play might tempt some )
would have to see the folks aiming to take control ( with or without a complete buyout )
Geoff Wilson would have to be a name that springs straight to mind but SOL has been expanding ( although am not too sure if SOL is so keen on international exposure ) , but there would be other players if the price is right ( an on-market/controlling stake play might tempt some )
Dona Ferentes
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Use-by Date ... or Best Before?
Kerr Neilson, the billionaire co-founder of Platinum Asset Management, is pushing for Andrew Clifford to step down as the fund manager’s chief executive, and says he could be open to takeover offers as the company battles lacklustre investment returns and a slump in its share price.
Mr Neilson, who left the Platinum board in November, said he had been privately campaigning to split the chief executive and chief investment officer roles for years, despite being “embarrassed” to suggest the change given he also held both positions concurrently...
and funds managed, from where fees are extracted, are at $18bill, down from $26bill
maybe time is up.
Dona Ferentes
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Went to the Platinum FUND presentation tonight. Nothing to do with PTM, but rather a get together, spruik of their International and Asia managed funds (plus LICs, plus mFunds, etc). At the Fullerton, the shiraz was good but the nibbles all went whoof in unseemly haste.
Anyhoo, after the spiel, it was Q&A, and didn't that bring the Col. Blimps out of the woodwork, to vent collective spleens. I retired for aforementioned quaff n nibbles ahead of the crowd.
But, ever the innovators, to keep the FUM rolling in wothin the organisation, there's a new structure, an Investment Bond that can be sold to the grandkids, (invests in the International fund through Aust Unity). And a new ETF, the Platinum Global Transition Fund, code PGTX, just launched. Will post on it tomorrow.
Had a chat to the quants, all three of them. Keeping the maths honest, with correctly applied qmc analysis of projections n stuff.
Anyhoo, after the spiel, it was Q&A, and didn't that bring the Col. Blimps out of the woodwork, to vent collective spleens. I retired for aforementioned quaff n nibbles ahead of the crowd.
But, ever the innovators, to keep the FUM rolling in wothin the organisation, there's a new structure, an Investment Bond that can be sold to the grandkids, (invests in the International fund through Aust Unity). And a new ETF, the Platinum Global Transition Fund, code PGTX, just launched. Will post on it tomorrow.
Had a chat to the quants, all three of them. Keeping the maths honest, with correctly applied qmc analysis of projections n stuff.
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i hold PTM and PAI
took PTM as a falling knife ( bought April 2022 @ $2.01 ) the logic being fund managers ( in general ) will come into their own in difficult markets .. when index funds fall with the tide ( i also hold several rivals to PTM )
i bought PAI ( bought between April 2022 and October 2022 , av SP 88.5 cents ) to increase my exposure to Asia in articular India
( i have rival LICs and ETFs with exposure to India as well )
i think India ( the nation ) is a long-term growth play , while China is mature already and will need to consolidate on previous growth
took PTM as a falling knife ( bought April 2022 @ $2.01 ) the logic being fund managers ( in general ) will come into their own in difficult markets .. when index funds fall with the tide ( i also hold several rivals to PTM )
i bought PAI ( bought between April 2022 and October 2022 , av SP 88.5 cents ) to increase my exposure to Asia in articular India
( i have rival LICs and ETFs with exposure to India as well )
i think India ( the nation ) is a long-term growth play , while China is mature already and will need to consolidate on previous growth
Garpal Gumnut
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Dona Ferentes
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Didn't see. Barossa to my immature buds and nose. Served by young people in perky uniforms. I'm going bottled.
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Platinum Assets Management (PTM) - a member of the financial services sector, currently an area of emerging strength in the overall market (see weekly video link below), which deals with the international market (a stronger area than our own market). Could these be the catalysts to drive the price of PTM up whilst the overall Aussie market remains stagnant? Possibly...
PTM has formed a decent base with respect to price action here, and the moving averages appear to be providing some support. Let's see if we obtain a breakout to the upside along with a strengthening relative strength indicator.
Consider the details of the financial sector breakdown from the weekly video here too:
PTM has formed a decent base with respect to price action here, and the moving averages appear to be providing some support. Let's see if we obtain a breakout to the upside along with a strengthening relative strength indicator.
Consider the details of the financial sector breakdown from the weekly video here too:
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PTM is my January 2024 selection
the opening paragraph from Bell Potter
Appointment of Jeff Peters as CEO
The company announced that it has appointed Jeff Peters as its new CEO.
He has a strong asset management industry background, having been Managing Director, Head of Global Institutional Business at Columbia until 2018 and Senior Managing Director, Head of Global International Business at Putnam until 2007 (according to his LinkedIn profile).
We understand his experience of fund distribution in these positions will be important for PTM to grow its FUM.
Since 2018 he has been involved in projects involved in natural capital and reforestation (https://spades.life/ and https://www.curagaia.com/ ).
The statement notes that following his appointment Andrew Clifford, Elizabeth Norman and Andrew Stannard will step down from the Board and report directly to him.
Andrew Clifford will continue as Co-CIO, while Elizabeth Norman and Andrew Stannard will continue their current roles.
We also review PTM’s fund flows for November, which showed further outflows, and revise our forecasts.
------
i disagree this is a blatant play for those remaining 'ESG' loyalists ( who are finally working out many other funds are just 'green-washing ' their way to extra commissions )
i hold PTM ( and PAI )
unlike Bell Potter ( their price target is 84 cents ) i think this has the potential for 75 cents to 80 cents ( after they launch a new 'earth-friendly ' fund/LIC )
... but short term a new fund/LIC and maybe even a FUM inflow for a couple of months
but i have been wrong before and @Faramir needs some sunshine and fresh air
the opening paragraph from Bell Potter
Appointment of Jeff Peters as CEO
The company announced that it has appointed Jeff Peters as its new CEO.
He has a strong asset management industry background, having been Managing Director, Head of Global Institutional Business at Columbia until 2018 and Senior Managing Director, Head of Global International Business at Putnam until 2007 (according to his LinkedIn profile).
We understand his experience of fund distribution in these positions will be important for PTM to grow its FUM.
Since 2018 he has been involved in projects involved in natural capital and reforestation (https://spades.life/ and https://www.curagaia.com/ ).
The statement notes that following his appointment Andrew Clifford, Elizabeth Norman and Andrew Stannard will step down from the Board and report directly to him.
Andrew Clifford will continue as Co-CIO, while Elizabeth Norman and Andrew Stannard will continue their current roles.
We also review PTM’s fund flows for November, which showed further outflows, and revise our forecasts.
------
i disagree this is a blatant play for those remaining 'ESG' loyalists ( who are finally working out many other funds are just 'green-washing ' their way to extra commissions )
i hold PTM ( and PAI )
unlike Bell Potter ( their price target is 84 cents ) i think this has the potential for 75 cents to 80 cents ( after they launch a new 'earth-friendly ' fund/LIC )
... but short term a new fund/LIC and maybe even a FUM inflow for a couple of months
but i have been wrong before and @Faramir needs some sunshine and fresh air
