PTM - Platinum Asset Management

Platinum Investment Management Limited (“Platinum”)

Funds Under Management (“FUM”)1 and Performance Fee Update 31/12/2023 30/11/2023 ($M) ($M)
Funds under management 15,447 15,534 In December 2023,
Platinum experienced net outflows of approximately $235 million.
This figure includes net outflows from the Platinum Trust Funds2 of approximately $130 million.
Performance fees for the six months ended 31 December 2023 are insignificant.
Performance fees (if any) will fluctuate significantly from year to year.
The most recent investment performance for funds managed by Platinum can be found at https://www.platinum.com.au/Investing-with-Us/Prices-Performance

i hold PTM ( and PAI )

not totally unexpected

expect the new leadership to create a Greenish fund to try to lure new punters

BTW does this count as my post for the month ??

The chart is the only thing stopping me from having a punt on PTM.

It really is a lotto stock. There is a chance one may win, but really, a downtrend is a downtrend and it would be pure luck were one to catch it on a reversal.

A 10 year chart with lotsa red and lower lows and lower highs. .



Sorry Divsie @divs4ever , I've held stocks like this and believe myself fortunate not to hold this one.

Best of luck for a reversal which is not an unrealistic wish.

gg

Garpal Gumnut said:

The chart is the only thing stopping me from having a punt on PTM.

It really is a lotto stock. There is a chance one may win, but really, a downtrend is a downtrend and it would be pure luck were one to catch it on a reversal.

A 10 year chart with lotsa red and lower lows and lower highs. .

View attachment 168500

Sorry Divsie @divs4ever , I've held stocks like this and believe myself fortunate not to hold this one.

Best of luck for a reversal which is not an unrealistic wish.

gg

Click to expand...

am not expecting anything but a small relief rally from this short-mid term , most fund managers were relaxing as the bull market made them look good , and this seems to be one of them

but a 10% rally might get me a place in this month's comp. ( but more likely they will dally and place ads , book presentations , so i might get that 80 cent target sooner rather than later )

PTM announces turnaround is required and underway

The Board of Platinum Asset Management Limited (ASX: PTM) is pleased to announce that it has approved the following broad-based turnaround program to revitalise the Company.
The programme will be implemented in two separate phases over the short to medium term.
Our Reset phase is underway, with key actions to be implemented over the next one to four months as follows:
- Alignment of our expense base to current revenue conditions: our immediate priority is to look at opportunities to reduce costs and to right size our business;
- Review of our existing product offerings and distribution channels: both onshore and offshore;
- Renewal of our client communication strategy: pro-active communication to explain our investment positioning and ability to meet clients’ needs;
- Deep examination of our investment platform: including a review and reorganisation of our investment research function, review of our portfolio construction and risk management processes as well as existing product design, noting that our investment philosophy will not change; and
- Review of our remuneration framework: to simplify the program, improve alignment with clients and shareholders and ensure clear accountability.
Our Growth phase will be implemented over the next six plus months, as follows: - Implementation of recommendations to further enhance our investment platform;
- Build improved product and distribution capability through new channels;
- Exploration of growth and diversification opportunities, both organic and inorganic; and
- Completion of our back-office outsourcing projects, which are already well underway. Platinum’s CEO Jeff Peters said, “I recognise that the market and competitive environments are difficult and that this affects us, our clients and our peers
. It has been a difficult year so far at Platinum. We have seen net outflows, declines in revenue and our investment performance is not where we would like it to be for our clients.
Change is necessary and, whilst we have a full agenda, I am confident we can get it done.
The reasons I joined Platinum - the brand, the talent of our investment and senior teams, the legacy of success here in Australia
- these things are all still here.
We must capitalise on them and improve where we can, and then we will be well on the way to revitalising Platinum for our clients and our shareholders.”

As we progress, we will update the market at the appropriate time.

i hold PTM and PAI

hmmm trying jaw-boning first

i half-expected a new 'Green-tinted fund to lure in new clients

is still leaking FUM ( like several rivals )

some members may note today's bounce in share price happened two months after i tipped this potential turkey in the monthly comp.

( suspecting the release news of a new fund )

maybe i should wait for 75 cents

divs4ever said:

PTM announces turnaround is required and underway.

Click to expand...

I have little faith, this announcement comes 3 years to late, horse has bolted, ship has sailed etc.

AFR article from Dec https://www.afr.com/companies/finan...eters-confident-of-turnaround-20231211-p5eqi6

i will wait and see PAI is doing enough for me ( to keep them )

and PTM might actually turnaround in 2024 or 2025 or the new CEO will tidy it up for a take-over

Go Platinum Asset Management, go.
Up 14% must be the 'turnaround required and underway' pep talk announced. Haven't read it.
H1 result flattish to down, good dividend yield though.

Held

DAILY

finicky said:

Go Platinum Asset Management, go.
Up 14% must be the 'turnaround required and underway' pep talk announced. Haven't read it.
H1 result flattish to down, good dividend yield though.

Held

DAILY
View attachment 171921


View attachment 171920

Click to expand...

pep talk , yes , it seemed like that to me

am still wondering if i should have crystallized my losses in the early spike , instead of waiting for the div.

will active managers ( in the majority ) start scoring wins or will passive for all their flaws crush managed funds/LICs

New CEO is confident of a turnaround based on what? a million bucks a year regardless.

Platinum Asset Management turnaround plan update says targeting at least $25m in annualised run rate savings.

New honcho has already cleared the decks with many 'names' out the door.

"New boss Jeff Peters has wasted no time since his arrival in December, getting rid of the fund manager’s co-portfolio manager structure and history of giving promising analysts/investors separately managed sleeves within key strategies.

"The only exception is the $6 billion Platinum International strategy, the firm’s largest fund and in operation since 1995. Here, co-chief investment officers Clay Smolinksi and Andrew Clifford will operate under a more traditional co-PM structure – aka mutually agreeing on investment decisions, instead of running their own slices.

"Niv Dvornak, previously in charge of 10 per cent of Platinum International, has been made the portfolio manager of the Platinum International Brands strategy. That means Jamie Halse is leaving the firm after 13 years.

"Platinum Global Transition Fund – launched with high hopes just a few years ago – is under review at the firm. Its two portfolio managers, Liam Farlow and Jodie Bannan, have already left

"Sources told Street Talk, in addition to PMs Halse, Farlow and Bannan, Platinum has also shown the door to analysts Julian McCormack, Tom Tao, James Foreman and Alex Barbi. Most co-PMs have been demoted to analysts.

Dona Ferentes said:

Platinum Asset Management turnaround plan update says targeting at least $25m in annualised run rate savings.

New honcho has already cleared the decks with many 'names' out the door.

"New boss Jeff Peters has wasted no time since his arrival in December, getting rid of the fund manager’s co-portfolio manager structure and history of giving promising analysts/investors separately managed sleeves within key strategies.

"The only exception is the $6 billion Platinum International strategy, the firm’s largest fund and in operation since 1995. Here, co-chief investment officers Clay Smolinksi and Andrew Clifford will operate under a more traditional co-PM structure – aka mutually agreeing on investment decisions, instead of running their own slices.

"Niv Dvornak, previously in charge of 10 per cent of Platinum International, has been made the portfolio manager of the Platinum International Brands strategy. That means Jamie Halse is leaving the firm after 13 years.

"Platinum Global Transition Fund – launched with high hopes just a few years ago – is under review at the firm. Its two portfolio managers, Liam Farlow and Jodie Bannan, have already left

"Sources told Street Talk, in addition to PMs Halse, Farlow and Bannan, Platinum has also shown the door to analysts Julian McCormack, Tom Tao, James Foreman and Alex Barbi. Most co-PMs have been demoted to analysts.

Click to expand...

i hold PTM

not the strategy i thought he would roll out first

i will reconsider my top up strategy

( maybe he will cash out my PAI holding to try to save the company )

seems like the market was unimpressed as well

well there was a commentator with a target price of 88 cents , could he be correct ??

divs4ever said:

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 )

Click to expand...

OOPS !

84 cents target ( my bad )

Dona Ferentes said:

Platinum Asset Management turnaround plan update says targeting at least $25m in annualised run rate savings.

New honcho has already cleared the decks with many 'names' out the door...

Click to expand...

trouble is, too many clients are heading out the door with their money:

Platinum said it expected to receive partial redemptions of at least $1.4bn from its institutional and wholesale business over the coming month, with one large client indicating that it intends to rebalance its exposure away from benchmark agnostic global equity managers..
.
loss of mandates and pressure to lower fees => spiral down, down

and that will continue ( across the sector ) until fund managers out-perform the indexes( and passive ETFs )

3-5 years of chart sort of told the story on this one and it's not totally alone either . AI is going to shake the hell out of a lot of these in coming years . The 3yr performance on almost every fund they run is pitiful

almost like finding the diamond in a coal mine in this sector , currently

but who is brave enough to buy/add currently ( not me ... yet )

Dona Ferentes said:

Platinum Asset Management turnaround plan update says targeting at least $25m in annualised run rate savings.

New honcho has already cleared the decks with many 'names' out the door.

"New boss Jeff Peters has wasted no time since his arrival in December, getting rid of the fund manager’s co-portfolio manager structure and history of giving promising analysts/investors separately managed sleeves within key strategies.

"The only exception is the $6 billion Platinum International strategy, the firm’s largest fund and in operation since 1995. Here, co-chief investment officers Clay Smolinksi and Andrew Clifford will operate under a more traditional co-PM structure – aka mutually agreeing on investment decisions, instead of running their own slices.

"Niv Dvornak, previously in charge of 10 per cent of Platinum International, has been made the portfolio manager of the Platinum International Brands strategy. That means Jamie Halse is leaving the firm after 13 years.

"Platinum Global Transition Fund – launched with high hopes just a few years ago – is under review at the firm. Its two portfolio managers, Liam Farlow and Jodie Bannan, have already left

"Sources told Street Talk, in addition to PMs Halse, Farlow and Bannan, Platinum has also shown the door to analysts Julian McCormack, Tom Tao, James Foreman and Alex Barbi. Most co-PMs have been demoted to analysts.

Click to expand...

All those two "international markets co-chief investment officers" had to do was turtle $NVDA over the last 12 mo.

I agree with all above for a possible entry around 80c. Fire is good for sharpening the minds of investors.

gg