0151 GMT - A deepening stock-market rout is likely to put more pressure on funds under management at Australian-based investment manager Platinum into 4Q FY2025, say Goldman Sachs analysts Julian Braganza and Brian Kim. Platinum's FUM at March 31 was A$10.3 billion, down from A$11.1 billion at Dec. 31, and markets have deteriorated further this month, they say. "Markets remain uncertain," say Braganza and Kim. "It is unclear what additional cost out levers PTM has to offset income pressure." They reiterate a sell rating on Platinum's stock, which has almost halved from a November peak. GS's target on Platinum is cut to A$0.56, from A$0.65 previously. The stock is down 1.8% at A$0.55.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 07, 2025 21:51 ET (01:51 GMT)
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