The 10 year performance of almost all Platinum’sFunds have been...

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marri

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19/10/21

18:22

Post #: 56915533
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Originally posted by ipsofactoid: ↑

To be fair, you could say that about a very large group of active managers, including Magellan in recent times...and one could easily argue that Magellan's fees are less justifiable than Platinum's, given the difference in mandate (long only, large cap, highly predictable quality equities mostly within developed markets for magellan vs long short, variable beta, cyclical equities across all markets for Platinum)

Platinum's style is out of favour and may continue to be for some time yet...probably until the next big bubble bursts and they experience a period of outperformance such as tech wreck/GFC...the question is what will the FUM outflow be between now and their next big opportunity to add value (and do they capitalise sufficiently on this next opportunity when it arrives, or do they blow it)?

The risk for shareholders is that the FUM losses accelerate and they bleed out before the next period of significant outperformance occurs.
I think a fair bit of that risk is already factored into the current share price at these sub $3 all-time lows (but who knows?).

People say "but Kerr is gone, they've lost the magic", and I would counter that by saying Andrew is no dummy, and he still has a good team around him...like any decent, non-benchmark hugging, value focussed fund manager who has a sound investment methodology, they should be right eventually.

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The 10 year performance of almost all Platinum’sFunds have been terrible. The Asia Fund was by far the best: the manager of that fund resigned about 12 months ago to start his own fund.
If Clifford is such a smart guy (well he is I guess…he has made a fortune out of bunnies) why have Platinum funds underperformed year in, year out?

PTM Price at posting: $2.97 Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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