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Platinum Asset Mgt (PTM) $2.63

PTM fell early yesterday after billionaire Judith Neilson sold her last 4.9% holding at $2.42, a decent discount to Wednesday’s closing price. The stocks endured an awful 2021 basically halving from its highs as  weakish performance and net outflows plague the business, in December it lost around 0.75% of its funds under management but a fully franked yield around 9% implies there’s already lots of bad news built into this fund manager – a potential aggressive income play.

Active fund managers are expected / priced to see significant fee compression due to outflows into passive strategies however MM believes we’re entering a period for active managers to add value just at a time when their valuations are near historical lows. Buying PTM into weakness is clearly “catching a falling knife” stuff and more one for the hitlist at this stage, but it is incredibly cheap and worth keeping a close watch on.

PTM
MM likes PTM into weakness under $2.50
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Platinum Asset Mgt (PTM)
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