Platinum Asset Management Limited ABN 13 050 064 287
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Andrew Clifford, Co-Founder Andrew Stannard, Finance Director
Analyst Briefing
Financial Highlights
December 2021
Average FuM $22.5 billion, up 1% on Dec-20.
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Management fee revenue up 3%.
Other income negative $4.9m due to unrealised mark-to-market losses on
seed investments.
Expenses up 16%. Expenses excluding share-based payment expense up 4%.
useProfit excluding unrealised losses on seed investments down 1%.
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Net profit after tax $60m, down 34%.
Final dividend of 10 cps fully franked (~7.4% annualised yield*).
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Source: Platinum Investment Management Limited.
* Using 31 December 2021 share price of $2.70
Where are we now?
Evidence the bull market is over
only Interest rates going up - what is needed to tame inflation? Story is being questioned - pain in most speculatively valued useand least supportable businesses … and this is all before any
actual tightening in financial conditions has occurred
It's important to understand how your manager is invested … ersonal remember major bear markets can take over 50% of the
share price back
This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and
4 r quirements and seek professional financial advice before making any financial decisions. The commentary reflects Platinum's views and beliefs at the time of preparation, which are subject to change without notice.
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Platinum Asset Management Limited published this content on 23 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 06:28:03 UTC.
Platinum Asset Management Limited is an Australia-based holding company. The Company is engaged in the fund management business. It operates through two segments: fund management and investments and other. Its products by type include managed funds, listed investment companies, Australian Stock Exchange (ASX)-quoted managed funds, mFund, platinum investment bonds, and offshore products. Its managed funds include Platinum International Fund, Platinum Global Fund, Platinum Asia Fund, Platinum European Fund, Platinum Japan Fund, Platinum International Brands Fund, Platinum International Health Care Fund, Platinum International Technology Fund, MLC Platinum Global Fund, and Platinum Global Transition Fund. The mFund Settlement Service allows access to certain unlisted managed funds through a more streamlined transaction settlement process. Quoted managed funds offer investors the advantage of knowing the fundâs intra-day indicative NAV per unit before placing a trade.
PLATINUM INVESTMENT MANAGEMENT LIMITED 
