Platinum Asset Management: AUD 1.4 Billion Redemption Is Not the End of the Gloom

Platinum Asset Management disappointed with an imminent redemption of AUD 1.4 billion in mandated funds from an undisclosed institutional investor, highlighting the challenges faced by active asset managers lacking compelling performance, such as Platinum. The AUD 1.4 billion loss represents 9% of Platinum’s current funds under management, or FUM, of AUD 15.6 billion. This mandate loss, combined with some other anticipated institutional account changes over the next few months, is expected to lead to an AUD 18 million reduction in annual fee revenue.