Platinum Asset Management Ltd (AU:PTM) has released an update.
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Platinum Asset Management Limited reports a significant boost in September with the Platinum International Fund and Platinum Asia Fund rising by 3.3% and 12.5%, respectively, leading to a 2% increase in funds under management to $12.5 billion. The company is pushing forward with its turnaround program, merging investment products to improve market efficiencies while planning to launch a new managed fund product in early 2025. Despite a non-cash charge due to unmet employee performance rights, the firm’s strong balance sheet, with $256 million in cash and deposits, positions it well for future investment opportunities.
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