One of the biggest investing themes at the moment is stocks that will win from a falling Australian dollar

One of the biggest investing themes at the moment is stocks that will win from a falling Australian dollar. Global equities fund manager Platinum Asset Management, which is run by billionaire investor Kerr Neilson, is one company that will benefit from a weaker dollar. Platinum's funds under management grew solidly by 16% to $22.9bn in 2014, mostly driven by investment returns (at the end of August funds under management had grown to $23.5bn); but revenue and sales were much stronger, with net profit surging 47%. Since Platinum shares hit their March highs, they have fallen back steeply to under $6, which we think gives yield investors a chance to lock in a strong 5.7% yield. Platinum reports in Australian dollars, so the value of funds under management, investment management fees, performance fees and earnings are positively affected by the dollar's depreciation. The funds manager should also benefit from growing interest in international investing. It is trading slightly above our valuation of $5.74, but gives income investors an opportunity to generate a solid dividend yield in a well-managed, entrepreneurial company. (VIEW LINK)