Platinum has zero optionality compared to Magellan. Platinum is a vanilla fund manager.
Where’s the potential growth for Platinum if they continue to offer the same product/strategy and think that apathetic lazy retail investors will just stick with them forever with higher fees and lower performance?
As i have mentioned previously Platinum is just a vehicle which milks fees from its funds. Simple business which can generate stable dividends, however structurally the business it is in is very challenged and arguably in decline.
Ann: Analyst Briefing - June 2021 Yearly Results, page-4
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