Monthly Update
Fact Sheet
Offer Document
Financial Statements
Distribution – Tax Components

Investment objective
To provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments in companies around the world.

Where is the Fund’s money invested?
The Fund primarily invests in listed securities. The Portfolio will ideally consist of 30 to 60 securities that Platinum believes to be undervalued by the market. The Fund may use Derivatives to achieve long equity exposure. Refer further to ‘The Funds’ Investments’ in the PDS. The Portfolio will typically have around 90% net equity exposure. The Portfolio is constructed in accordance with ‘Platinum’s Investment Methodology’ - refer to the PDS, except that no market risk management of either markets or currencies will be undertaken. The geographic disposition of the assets will determine the Fund’s currency exposure. Since inception, the Fund has held around 50 securities with limited commonality to the Platinum International Fund. On account of the relatively concentrated nature of the Portfolio, holdings that carry great conviction will generally be larger than in the Platinum’s “risk managed” products (i.e. the other Platinum Trust Funds).

This Fund may be suited to you if you

	construct your own portfolios and wish to capture the alpha (stock market out-performance) generated by a long-only Fund i.e. you have no wish for the fund manager to provide protection against share market or currency "risk"
	believe in the long-term wealth creation potential of share investments
	wish to achieve investment diversification by accessing international share market opportunities
	accept that returns over the shorter term may fluctuate and that returns may even be negative

Minimum suggested time horizon
Five or more years

Income distribution
Annually as at 30 June.

Specific Investment Restrictions for the Fund:
The following investment restrictions have been set by Platinum for the Fund:

	No market risk management will be undertaken for the Fund i.e. no short selling of indices or stocks
	No currency management will be undertaken for the Fund i.e. the disposition of the assets will determine the Fund's currency exposure