Fund managers are made in crises.
Platinum, under the leadership of Kerr, way outperformed the market by side stepping the dot com bubble. That is where the brands reputation was made.
Platinum is now under different leadership. Leadership that has not yet proven themselves.
They did not impress me during the covid crisis.
I will give them one more crisis to make a name for themselves.
If they fail to navigate the next global crisis successfully, it will be curtains. And rightfully so. Capital will, and should, exit.
Jack Bogle said "The fund management industry is an extractive". How right he was.
Ann: Funds Under Management - September, page-6
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