In late December of 2018, I received an email that caught me by surprise. It came from someone I’d never met with an unexpected proposition. The concept was to kick off 2019 with a constructive discussion between the Chief Investment Officers of Platinum Asset Management and Magellan Financial Group. I say... Show More
Plenty of attention has been given to ‘FANG’ stocks (Facebook, Amazon, Netflix, Google), but it’s the Chinese analogues, Tencent and Ali Baba, that are more interesting to Clay Smolinski, Portfolio Manager at Platinum Asset Management. Show More
Platinum Asset Management’s new Quoted Managed Funds began trading on the ASX yesterday. The Platinum International Fund - Quoted Managed Fund (ASX:PIXX) and the Platinum Asia Fund - Quoted Managed Fund (ASX:PAXX) will be structured as feeder funds into Platinum’s two flagship unlisted funds, the Platinum International Funds (PIF) and... Show More
Platinum is pleased to announce the forthcoming launch of two innovative new products. Two new managed funds, Platinum International Fund (Quoted Managed Fund) (ASX code: PIXX) and Platinum Asia Fund (Quoted Managed Fund) (ASX code: PAXX), will shortly be quoted on the Australian Securities Exchange (ASX), and are expected to... Show More
Arie, the key advantage of PIXX and PAXX over the LIC’s (PMC and PAI) are their open ended structure which effectively provide entry/exit very close to NAV. Some would counter-argue that LIC’s offer the benefit of knowing ahead of 30 June the exact tax outcome that a trust can never provide with certainty. A trust must pay out income and realised capital gains, while a company declares a dividend, paid from retained earnings. With pooled vehicles, one has to weigh up preferences around the structure.
Dean, this is indeed one of the key reasons for launching these products, which along with the mfund platform, acknowledge that the application form is a key barrier to many Australians having balanced portfolios and accessing the skill required to invest successfully overseas