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Platinum Asset Management grows December FUM to $25.1 billion

Motley Fool Staff
ASX Investment Manager

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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The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020