Platinum Banks on Contrarian Approach in Search of Stronger Future Expected Returns

Platinum’s earnings have been hamstrung in recent years by its inability to meaningfully increase its funds under management, or FUM. We think several factors are at play in explaining the disappointing FUM growth which we expect will continue to contribute to subdued near-term growth. Primary among the reasons is poor short- to medium-term performance from its flagship International fund relative to its benchmark.