| Report Date | 17 February 2013 |
| Manager | Platinum Asset Management |
| Fund Name | Platinum Japan Fund - AUD |
| Strategy | Equity Long/Short |
| Latest Return Date | January 2013 |
| Latest Return | 4.66% |
| Latest 6 Months | 20.23% |
| Latest 12 Months | 21.20% |
| Latest 24 Months | 2.14% |
| Annualised Since Inception | 13.43% |
| Inception Date | 01 June 1998 |
| FUM (millions) | AU$246.86 |
| Fund Overview | The fund primarily invests In Japanese and Korean companies' listed securities. These companies may list their securities on exchanges other than those in Japan and Korea and the Fund may invest in them. The Fund may invest in companies not listed in Japan and Korea but where their predominant business is conducted in Japan and Korea. The Portfolio will ideally consist of 30 to 100 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. Platinum may short sell securities that it considers overvalued. The proportion of Korean securities in the Portfolio will be limited to a maximum of 25% of the value of the Portfolio at the time of investment. |
| Manager Comments | The Platinum Japan Fund delivered 4.66% during January and 21.2% over 12 months, well ahead of the buoyant Japanese market.
The fund out-performed as a result of it's increased holding to exporters, the primary beneficiaries of the weaker Yen, as well as hedging just under half it's Yen exposure. This assisted in protecting asset values from the depreciating Yen on translation back into AUD. The fund also had cash of 1.6% and shorts of 4.8% of NAV.
The manager also notes that the outlook for corporate Japan is improving and that exporters have significant profit gearing to the weaker Yen hence the fund's relatively high net long exposure to the market. |
| More Information | » View detailed profile of this fund |
