Platinum Asset Management Ltd (ASX: PTM) announced its funds under management (FUM) this afternoon after the market had closed.
Every month the Asian-focused fund manager tells investors whether its total FUM has increased or decreased.
Over the month to 31 December 2019 Platinum Asset Management saw its FUM increase by $177.7 million to $25.1 billion, up from $24.9 billion at 30 November 2019.
However, during December Platinum experienced net outflows of approximately $104 million, which included net outflows from the Platinum Trust Funds of approximately $49 million. This means that the growth of total FUM was a result of market movements over the month.
The movement of FUM is key for a fund manager because it’s what provides Platinum base management fees each year, which is a large source overall revenue for a fund manager, along with any performance fees.
The post Platinum Asset Management grows December FUM to $25.1 billion appeared first on Motley Fool Australia.
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