Platinum Investment Management Posts 2% Rise in September Funds Under Management

MT Newswires Live

Oct 10, 2024

Platinum Investment Management (ASX:PTM) said funds under management grew 2% in September to AU$12.47 billion from AU$12.23 billion in August, according to a Wednesday filing with the Australian bourse.

The equity manager said net outflows were around AU$347 million, including net outflows from the Platinum Trust Funds of around AU$299 million.

It also posted monthly increases of 3.3% and nearly 13% in its Platinum International Fund and Platinum Asia Fund, respectively, in September, the filing stated.

In the same filing, the company said the boards of Platinum Capital (ASX:PMC) and Platinum Asia Investments (ASX:PAI) entered a scheme implementation deed to merge with the company's open-ended active funds, subject to shareholder and court approvals, with the launch of its first Platinum Partner Series in early 2025.

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