Platinum core investmentstyle– seek out companies whose true...

Platinum core investmentstyle– seek out companies whose true worth, intrinsic value and prospects are yet to be fully recognised by the market. PTM actively manage portfolios of undervalued companies to provide capital growth over the long-term.

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PTM view undervaluedcompanies in China, Korea, India and other Asian countries that are engine of dynamism and growth for the world economy are investing opportunities – avoiding the crowd and seeking investment opportunities in assets that are undervalued.

www.platinum.com.au/Investing-with-Us/Investment-Updates

PTM funds have continued to run riskreduction strategies via cash and short positions to Manage portfolio risk, market risk and currency risk.

- Increase cash holdings and reduce net equity exposure to protect the portfolio - when the market experiences widespread excessive exuberance and undervalued stocks become scarce.

- Short-sell stocks and indices that have been identified as being extravagantly overvalued by the market and to limit risk by reducing a portfolio’s net invested position.

- Actively manage currency exposure using hedging devices to capture potential returns and minimising currency risks.

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Magellan Wholesale Global Share

The > 72% allocation to North America provided exceptional returns in the past few years due the valuation in the US market and the strong USD. Risk management strategy will be to diversify, placing less weight from the highly valued US market and USD.
Risks include the US elections, high US debt, trade deficit and budget deficit.