Platinum Asset Management, Australia's largest absolute return manager with over $14 billion in FUM, records positive returns for all eight underlying funds in July.
The $3bn Platinum Asia Fund returned 8.40% for the month, to bring 2009 YTD performance to +35.5%, 12 month returns to 19.85% and annualised returns since March 2003 to 23.16%.
Best performing of Platinum's funds for the month was the European Fund which returned 8.50%, to bring 2008 YTD to +15.07%, 12 month returns to +2.21% and annualised returns since inception in July 1998 to 11.15%.
Platinum's largest fund, the International Shares Fund, with $7.6 bn in FUM returned +6.4% for the month, +13.62% in 2009 YTD, +25.79% in the past 12 months, and +14.74% annualised since inception in May 1995.
Shareholders in the ASX listed Platinum Asset Management (ASX: PTM) should also be happy with the results as the manager's performance fees of 16.5% above respective MSCI hurdles are not subject to any high water mark.
