The $5.2 billion Platinum Asia Fund's lead portfolio manager tendered their resignation at the end of 2020.
Joseph Lai joined Platinum in 2004, became the co-manager of the Asia fund in 2011 (alongside current Platinum chief investment officer Andrew Clifford) and the sole manager of the Asia fund in 2014.
With his departure, Clifford has taken over as the interim lead portfolio manager for the fund.
"An internal replacement for Joseph will be named in due course..." Platinum said in ASX filings for the quoted managed fund version of the strategy.
The Platinum Asia Fund invests in 50 to 100 listed Asian companies, with about 46% by assets in China, 12% in Korea and about 9% in India.
Its top five holdings at November end included Samsung Electronics (6% of the portfolio), Taiwan Semiconductor, AIA Group, Ping An Insurance and Tencent Holdings.
The fund is among the best performers in Platinum's lineup.
It delivered 29.3% in 2020 (compared to 13.9% from the MSCI AC Asia ex Japan Net Index in A$). On a two-year basis it is 6.8% above the benchmark, and 1.7% above it since inception in March 2003.
For FY20, Platinum Asset Management reported total revenue was $298.7 million (0.2% lower than previous year) while net profit attributable to members was $155.6 million (1.3% lower).