Portfolio Snapshots

We are an international equities manager, and we invest with a truly global outlook.

Here is a snapshot of the current portfolio disposition of our flagship Platinum Trust Funds and their key holdings.

Platinum European Fund

Platinum European Fund is our long-running European strategy offering, providing exposure to a diversified portfolio of European companies, including undervalued businesses from both Western Europe’s developed economies and Eastern Europe’s emerging markets.

Established in 1998, the fund has A$786.0 million under management^ and a track record of achieving 11.7% compound return annually since inception (on 30/6/1998).*

Unconstrained by industry sector, Platinum European Fund invests in a diverse range of companies, from British and French consumer brands to Eastern European banks, from Scandinavian and German industrials to Swiss pharmaceuticals.

The fund’s actively managed currency exposure also provides substantial currency diversification.

Industry Breakdown1
SectorLong % Short %Net %
Industrials 25.4 - 25.4
Financials 18.7 - 18.7
Health Care 14.6 - 14.6
Consumer Discretionary 10.9 - 10.9
Energy 7.1 - 7.1
Materials 4.9 - 4.9
Communication Services 5.4 (0.8) 4.6
Info Technology 5.2 (0.6) 4.6
Real Estate 1.1 - 1.1
Consumer Staples - (2.9) (2.9)
Other 3.7 (14.1) (10.4)
Top 10 Positions3
StockCountryIndustry%
Booking Holdings Inc United States Cons Discretionary 4.7
Raiffeisen Bank Austria Financials 4.5
IHS Markit Ltd United States Industrials 4.3
Roche Holding AG Switzerland Health Care 4.1
Applus Services Spain Industrials 4.0
Golden Ocean Group Norway Industrials 3.9
Schibsted ASA Norway Comm Services 3.7
Fondul GDR Romania Other 3.7
Reed Elsevier PLC UK Industrials 3.6
Banca Transilvania Romania Financials 3.6
Total 40.3
Disposition of Assets2
Long %Short %Net %Currency%
Europe 88.1 (18.4) 69.7 94.8
Austria 6.5 - 6.5 -
Denmark 2.6 - 2.6 2.7
France 3.4 - 3.4 -
Germany 17.0 (14.1) 3.0 -
Ireland 4.2 - 4.2 -
Italy 3.1 - 3.1 -
Netherlands - (0.6) (0.6) -
Norway 13.5 - 13.5 18.3
Poland 2.5 - 2.5 2.5
Romania 7.3 - 7.3 3.6
Russia 2.3 - 2.3 -
Spain 8.0 (0.8) 7.3 -
Sweden - (1.4) (1.4) -
Switzerland 10.1 (1.6) 8.6 24.4
United Kingdom 7.4 - 7.4 12.0
Euro - - - 30.5
Hungarian Forint - - - 0.7
North America 9.0 - 9.0 5.2
United States 9.0 - 9.0 5.2
Sub-Total 97.1 (18.4) 78.7 100.0
Cash 2.9 - 21.3 -
Total 100.0 - 100.0 100.0
Long: 47 stocks. 1 swap. Short: 6 swaps, 2 indices.
Top 10 Positions3
StockCountryIndustry%
Booking Holdings Inc United States Cons Discretionary 4.7
Raiffeisen Bank Austria Financials 4.5
IHS Markit Ltd United States Industrials 4.3
Roche Holding AG Switzerland Health Care 4.1
Applus Services Spain Industrials 4.0
Golden Ocean Group Norway Industrials 3.9
Schibsted ASA Norway Comm Services 3.7
Fondul GDR Romania Other 3.7
Reed Elsevier PLC UK Industrials 3.6
Banca Transilvania Romania Financials 3.6
Total 40.3
All data as at [31 August 2019] .
  1. “Long %” represents the Fund’s effective exposures to the relevant sectors as a percentage of the Fund’s NAV, taking into account direct stock holdings and long derivative positions (stocks and indices). “Net %” represents the Fund’s net exposures to the relevant sectors as a percentage of the Fund’s NAV, taking into account direct stock holdings and both long and short derivative positions (stocks and indices).
  2. “Long %” represents the Fund’s effective exposures to the relevant regions as a percentage of NAV through stock holdings and long derivatives (stocks and indices). “Net %” represents the Fund’s net exposures to the relevant regions as a percentage of NAV through stock holdings and both long and short derivatives (stocks and indices). “Currency %” represents the Fund’s effective exposures to the relevant currencies as a percentage of NAV through stock holdings, cash and the use of derivatives.
  3. The “Top 10 Positions” table shows the Fund’s top 10 long stock positions as a percentage of the Fund's NAV, taking into account direct stock holdings and long derivative positions.