Platinum funds leak over $100m

Platinum Asset Management reported $108 million in net outflows in July, including $54 million net that flowed out of its trust funds during the month.

Platinum now has $25.1 billion across all its funds which are focused on international equities, according to July end data filed with the ASX yesterday. Many of Platinum's funds have underperformed the benchmark over one year to June end.

The $54 million outflows include its international Fund, the Platinum Unhedged Fund, Platinum Asia Fund, Platinum European Fund, Platinum Japan Fund, Platinum International Brands Fund, Platinum International Healthcare Fund, Platinum Technology Fund and the Platinum Global Fund.

The Asia and international fund also have active ETF versions where the fund's responsible entity acts as the market maker instead of an external entity filing the role.

The corporate regulator is currently reviewing some sections of the active ETF market and has stopped ASX and Chi-X from admitting new active ETFs that use internal market making.

Platinum's half year results to December 31 showed total revenue fell 28.49% and profit fell 37.71%.

Read more: ASXPlatinum Asset ManagementPlatinum Asia FundPlatinum European FundPlatinum Global FundPlatinum International Brands FundPlatinum International Healthcare FundPlatinum Japan FundPlatinum Technology FundPlatinum Unhedged Fund
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