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 20 January 2011
is equivalent to an Australian transaction date
of 21 January 2011. 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, with the necessary supporting documentation, by 3:00 pm Thursday 20 January 2011. This application will be transacted on the next Business Day, Friday 21 January 2011. Platinum waits until all markets have closed on the calendar day of Thursday 20 January 2011. The last market to close is New York. The New York market closes at approx. 8:00 am (AEST) on Friday 21 January 2011. Platinum calculates the unit prices applicable for Friday 21 January 2011 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 21 January 2011, but the price is described as Close of Business New York Thursday 20 January 2011 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 the Queen's Birthday holiday 2011,
as an example.
No unit prices will be calculated on Monday
13 June 2011, as it will be a public holiday
in Sydney. Applications for investment in the
Funds received before 3:00 pm Friday 10 June
2011 will receive the entry price calculated
on Tuesday 14 June 2011. Using our normal
convention, the entry price calculated on Tuesday
14 June 2011 would be described as New York
close Monday 13 June 2011 on the public web
site. The investor will see the application
dated Tuesday 14 June 2011.
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. |
