We’ve exited UK financials

Platypus Asset Management

Platypus Asset Management

The impact of Brexit will be profound on the UK’s financials sector, at least in the short-term. As we write, we have reports of large property funds ‘gating’ redemptions. We have sold our positions in CYBG Plc, Henderson Group and reduced our holding in Macquarie Group. The expectations for Henderson Group, for instance, were for retail inflows of between GBP4-6bn this calendar year. With the hit to confidence and investors losing risk appetite, one would expect the flows to slow to a trickle or even reverse into outflows. Operating leverage in asset managers would mean a large impact on P&L. Hence we decided to move quickly and exit the position. (Prasad Patkar, Portfolio Manager)


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Platypus Asset Management
Platypus Asset Management
Australian Unity Investments
Platypus Asset Management

Platypus is a boutique fund manager that specialises in Australian equities. Platypus have a long history of outperforming the Australian market. We are a true to label growth manager with an uncompromising focus on quality.

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