Error in Annual Fee and Exit Statements for Platinum Trust Funds and Platinum Global Fund

May 2021:

Platinum has recently identified and self-reported issues with our Platinum Trust Funds’ and Platinum Global Fund’s annual fee statements (issued as at 30 June each year) and exit statements (issued for investors that entered or exited during the year) going back to their introduction in 2005.  Whilst the exit statements issued to investors correctly reported the investor’s return for the period they were invested in a fund, the heading on the exit statement and corresponding footnote incorrectly inferred that the return quoted was for the full financial year.  In addition, the returns on all annual fee statements and exit statements were presented as a percentage return rather than being stated as a dollar amount.

As previously advised, the annual fee statements (as at 30 June 2020) and exit statements (issued to investors that exited a fund between 1 July 2020 and 30 September 2020) used the incorrect unit prices to calculate the opening balances reported in the statements.  The unit prices for 1 July were used to calculate the opening balances instead of the 30 June ex distribution prices.  For details of the 30 June ex distribution prices which should have been used, please click here. We have since identified a further issue affecting the same annual fee statements (though a small subset), namely, where an investor held units in a fund for the full year, the investor’s return was not reported in the statement.  For details of each fund’s annual return to 30 June 2020, please click here.

None of these errors have affected the value of your transactions. 
 
If you have any questions about this matter, please contact Investor Services on 1300 726 700 (Australia only), 02 9255 7500 or email [email protected]
 
We apologise for any inconvenience this may have caused.