Platinum's Challenges Persist Despite Turnaround Efforts

Platinum is an active manager founded in 1994, specializing in global equities. It concentrates on identifying unfashionable stocks with latent business and growth prospects. Platinum is not focused on asset allocation and pays little attention to its benchmarks. As a result, its portfolios often look little like—and returns often don’t resemble—their indexes. The firm has about AUD 13 billion in funds under management, or FUM, and is one of the better known fund managers in Australia.