PTM - Platinum Asset Management

[Huang Chung]

My Lordie that's a horrible looking chart!



Interesting to note that Perpetual's performance of late has also been fairly dismal, but not to the same extent as PTM.

FUM 31/10/2007 30/9/2007

PTM $20.4b $21.1b
PPT $39.4b $39.5b

Amazing to think that fund managers could perform so terribly, when the market has by and large been going gangbusters. Where would they have been without compulsory super contributions boosting up their FUM?

[winner69]

Amazing to think that fund managers could perform so terribly, when the market has by and large been going gangbusters. Where would they have been without compulsory super contributions boosting up their FUM?

The underlying funds haven't been performing all that bad .... not to the extent of how PTM has performed eh.

Just poor old PTMs performance fees have taken a dive and as FUM drops the 'fixed' management fees have fallen.

PTM has a market cap of nearly $3 billion (lot higher a while ago eh) and that is the amount of clipping the ticket stuff they expect to take off those who have invested $20 billion odd jlust for looking after their money ....... just goes to show that the funds management game is really a big rort ..... a never ending source of income.

At least this is an opportunity for the man in the street to get some of this money back .... and get on this gravy train .... courtesy of the guy who generously sold out six months ago.

Wonder how many thought they were buying into a fund ... as opposed to a funds management company.

[macduffy]

Still not the time to buy PTM but here's hoping some of those disappearing FUM are ending up with AUW!

Disc: Hold AUW

[winner69]

At least nobody can say that Mr Kerr Neilsen mislead anybody .... six months ago he said they were only worth $5.00 and that's what he floated them for ..... just the euphoria of the market and getting on the gravy train took them to $9 odd .... but then again that euphoria was probably stage managed for some to make heaps .... cynical today eh

Must listen to that man Kerr Neilsen more often .... he was right

[COLIN]

As a matter of interest: Platinum Capital Ltd (PMC) had a NAV of 162.22 at the end of September, compared with a NAV of 162.53 at the end of February. On a 12 months basis they couldn't even match the MSCI World Index which was 4.6% as against PMC's 1.4%. Pretty disconcerting, given the supposed guru status of Mr. Neilson! He has admitted in the latest PMC Quarterly Report that he "Got it all wrong". As I said before, I'm afraid the gloss has worn off Mr Neilson and it is not surprising that investors are abandoning him. But he has his billions and why does he need to worry! Pity his poor devotees though.

[macduffy]

Yes, fund managers are highly vulnerable to short term underperformance and PTM will no doubt continue to suffer in the short term. But KN has always been a contrarian and will have his time again, if he sticks around. There will be a time to buy PTM but its not now.

[macduffy]

Someone still likes PTM - one of the directors has bought another 20,000 to add to his 200k.
Me, I'm still waiting.

[soulman]

I think the bottom have been found. Anything around $5 is a good buy. Not for me though.

[macduffy]

Someone still likes PTM - one of the directors has bought another 20,000 to add to his 200k.
Me, I'm still waiting.

Company has amended above to 100k additional for a total of 300k shares.

[mark100]

If Kerr Neilson still has the midas touch this is the time to demonstrate it. It will be very interesting to see the performance of the PTM funds vs the market over the next year.

If he can outperform, FUM might start growing again and PTM could be good value in the low $4's.