Platinum Asia Investments
About this Fund
|FUND MANAGER||Platinum Investment Management|
|ASSET CLASS||LISTED INVESTMENT COMPANY|
|INVESTMENT STYLE||PAI is an actively managed, diversified portfolio of Asian (ex-Japan) companies.|
|INVESTMENT PROFILE||PAI aims to provide capital growth over the long-term and to achieve net returns over a five year plus investment horizon that are in excess of the Benchmark.|
|CURRENCY MANAGEMENT||Active management|
|BENCHMARK||MSCI All Country Asia ex Japan Net Index (A$)|
|FUND SIZE||MSCI All Country Asia ex Japan Net Index (A$)|
|NO. OF HOLDINGS||75-150|
|FEES||1.10% p.a. (ex GST)|
Benefits of investing in PAI
About the Fund
An ASX-listed investment company, PAI offers investors an easy and convenient means of accessing an actively managed, diversified portfolio of Asian (ex-Japan) companies across industry sectors, providing exposure to undervalued businesses that are benefiting from Asia's dynamic growth and transformation.
To provide capital growth over the long-term through investing primarily in undervalued listed securities of companies in the Asian region (ex-Japan) across sectors. In doing so, PAI aims to achieve net returns over a five year plus investment horizon that are in excess of the benchmark (MSCI All Country Asia ex Japan Net Index (A$)) returns.
Platinum is an active manager focused on delivering long-term absolute returns (i.e. returns in absolute terms, rather than relative to any benchmark).
Platinum's investment philosophy is centred on the belief that there are times when events of a transitory nature may have a disproportionate effect on a company's share price, be they positive or negative, causing it to deviate from its inherent trend line. Such events, in Platinum's' view, present potential investment opportunities if one is able to differentiate between the companies that have a sound business case but are facing temporary set-backs from those which have lesser potential or face fundamental problems.
Platinum's style of investment management is focused on seeking out the neglected and overlooked parts of the market. Its core expertise is in identifying companies that have sound businesses and promising growth prospects but are temporarily out-of-favour with the market.
To identify companies whose businesses and growth prospects are temporarily inappropriately valued by the market, Platinum builds each portfolio through a process of individual stock selection (the "Bottomâ€Up Approach) rather than from any pre-determined asset allocation by macro-economic modelling (the so-called "top-down model) or by reference to any index weightings (the so-called "benchmarking model).
Platinum applies both qualitative and quantitative analyses when selecting stocks. Considerations in connection with each company typically include, but are not limited to:
How we invest your money
Platinum's investment process generally involves the following key elements:
As a consequence of Platinum's investment approach and process, the Portfolio will be built from the bottom up from a series of individual stock selections rather than from a pre-determined asset allocation. Investment weightings in the Portfolio may vary considerably from benchmarks such as indices issued by MSCI.
The Manager views the process of portfolio building as a layering process. At any time, there will be newly introduced ideas, others that have made an initial contribution and others that are starting to tire. Care is taken to understand the inter-relationship of stocks within a portfolio.
When undervalued securities cannot be found, the Manager may leave funds in cash. Therefore, after periods when the markets have performed strongly the Portfolio may hold significant cash positions. Likewise, when the Manager's research reveals companies whose prospects are seen as overvalued, the Manager may short sell as a way of managing the Portfolio's risk.