Benefits of investing in the Platinum Global Fund (Long Only)

• Access to a manager with a proven investment philosophy and method for selecting undervalued stocks and a team of experienced investment professionals

• Exposure to a portfolio consisting largely of the manager's best high conviction stock ideas

• Foreign currency exposures (derived from the fund's security holdings and cash holdings) providing substantial diversification from the Australian dollar

• Annual distribution of the fund's net income, including net realised capital gains

Investor suitability

The Funds are not suited to Investors who:

1. Expect returns to mirror or better an index at all times. Platinum's investment process pays no heed to recognised benchmarks, such as MSCI Inc.
   
2. Expect to make significant short‐term gains. The minimum suggested time horizon for each Fund is five or more years.
   
3. Cannot tolerate that there may be substantial fluctuations in the value of their investment. Equity markets are volatile and fluctuations will occur in the value of your investment in the Funds.

About the Fund

A long only portfolio built largely from the best high conviction ideas drawn from all the Platinum Trust Funds, the fund offers investors exposure to undervalued businesses from around the world and across industry sectors.

Investment objective

To provide capital growth over the long-term by investing in undervalued companies from around the world.

Investment Strategy

The Platinum Global Fund (Long Only) primarily invests in listed securities. The portfolio will ideally consist of 40 to 80 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. However, the portfolio typically has around 75% or more net equity exposure.

Why invest with Platinum?

Platinum is one of Australia's leading investment managers in international equities.

Platinum has an independent style of investment management driven by a thematic stock picking approach. The composition of a Fund's assets is determined largely by the availability of companies regarded as undervalued by Platinum rather than by macro economic modelling (referred to as top down asset allocation) or by reference to global share index weightings (referred to as benchmarking).

Platinum's investment strategy is applied with the aim of achieving absolute returns for Investors. This is our central endeavour. It is complemented by monthly and quarterly communications to keep Investors abreast of our perspective and portfolio positioning.

The Funds can be used as stand‐alone investment options for international exposure or may be used to complement the investment styles of other managers.

How we invest your money

The Fund primarily invests in listed securities. The Portfolio will ideally consist of 40 to 80 securities that Platinum believes to be undervalued by the market. The Fund may use Derivatives to achieve long equity exposure. Refer further to Disclosure Principle 7: Derivatives' on page 13 of the PDS.

The Portfolio will typically have around 75% or more net equity exposure.

The Portfolio is constructed in accordance with Platinum's Investment Strategy' - refer to page 4 of the PDS, except that there is no short selling of indices or stocks.

The Portfolio is generally constructed using the best high conviction ideas drawn from all the Platinum Trust Funds, with a few exceptions. On account of the relatively concentrated nature of the Portfolio, holdings that carry great conviction will generally be larger than in the Platinum's "risk managed products (i.e. the other Funds).