Platinum flags loss and lower performance fee income

Company News

by Anna Napoli

Platinum Asset Management (ASX:PTM) says the recent falls in equity markets mean the company will record an unrealised loss on its seed investments for the half year ending December 2018.

Return related performance fee income for the half year ending 31 December 2018 will also be lower.

Platinum has reported it has about $24.1 billion funds under management as at 31 December 2018 which is slightly lower than the $24.2 billion result for November.

The company is due to release half year results on the 21st of February.

Shares in Platinum Asset Management (ASX:PTM) closed 0.21 per cent higher at $4.87 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.