The dates
for the unit prices of the Platinum International,
Unhedged, Asia, European, Japan, International
Brands, International Health Care and International
Technology Funds use the convention of stating
which calendar date was used in determining
the particular price. We use 'Close of Business
New York' to denote the close of the calendar
day across the world.
Platinum uses a forward pricing methodology. The applicable Australian transaction date associated with a stated 'Close of Business New York' date is generally one Business Day later, ie. a 'Close of Business New York' date of 24 January 2008 is equivalent to an Australian transaction date of 25 January 2008. Applications for investment in the Funds received by 3:00 pm (AEST) on a Business Day in Sydney will normally* receive the entry price calculated as at the close of business in New York for that date (which is calculated on the next Business Day in Sydney - remember New York closes approximately 14 hours after a Business Day in Sydney).
Applications for investment in the Funds received after 3:00 pm (AEST) on a Business Day in Sydney will receive the entry price of the subsequent New York close (ie the next Business Day in Sydney plus one).
Standard Pricing Timeline Example
An investor has deposited monies and a completed Application Form by 3:00 pm Thursday 24 January 2008. This application will be transacted on the next Business Day, Friday 25 January 2008. Platinum waits until all markets have closed on the calendar day of Thursday 24 January 2008. The last market to close is New York. The New York market closes at approx. 8:00 am (AEST) on Friday 25 January 2008. Platinum calculates the unit prices applicable for Friday 25 January 2008 by 4:00 pm that day. Platinum uses these prices to apply the application monies deposited the previous day before cut-off. The application transaction is dated Friday 25 January 2008, but the price is described as Close of Business New York Thursday 24 January 2008 on the public web site.
A public holiday in Sydney is not a Business Day and no unit prices are calculated on such a day. Unit prices are calculated on the next Business Day and reflect the end of the last trading day around the world's markets of the previous day.
Public Holiday Pricing Timeline Example
Consider ANZAC Day 2008, as an example.
No unit prices will be calculated on ANZAC Day, Friday 25 April 2008, as it will be a public holiday in Sydney. Applications for investment in the Funds received before 3:00 pm Thursday 24 April 2008 will receive the entry price calculated on Monday 28 April 2008. Using our normal convention, the entry price calculated on Monday 28 April 2008 would be described as New York close Friday 25 April 2008 on the public web site. The investor will see the application dated Monday 28 April 2008.
Withdrawal requests are processed in the same manner.
Unit prices are updated on the web page at 4:30 pm (AEST) each Business Day.
Please refer to the Product Disclosure Statement (PDS) for detailed procedures on how to apply for units and make withdrawals, together with processing cut-off times.
 Download PDS (File Size ~ 0.4Mb).
* Assuming that the next day in Australia is a Business Day ~ refer to PDS for more details. |
