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$571.0 million under management^ and a track record of achieving 10.4% 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 %
Health Care 17.3 - 17.3
Financials 17.2 - 17.2
Industrials 17.0 (0.7) 16.3
Consumer Discretionary 14.7 - 14.7
Info Technology 7.6 - 7.6
Communication Services 7.1 - 7.1
Energy 6.7 - 6.7
Materials 3.0 - 3.0
Real Estate 1.6 - 1.6
Other 4.2 (5.0) (0.8)
Top 10 Positions3
StockCountryIndustry%
Raiffeisen Bank Austria Financials 4.4
Prosus NV Netherlands Cons Discretionary 4.4
Booking Holdings Inc United States Cons Discretionary 4.4
Fondul GDR Romania Other 4.2
Hypoport SE Germany Financials 4.1
Saras SpA Italy Energy 3.6
Banca Transilvania Romania Financials 3.5
Golden Ocean Group Norway Industrials 3.4
Beazley PLC UK Financials 3.4
Roche Holding AG Switzerland Health Care 3.3
Total 38.5
Disposition of Assets2
Long %Short %Net %Currency%
Asia-Pacific - - - 11.1
Australian Dollar - - - 11.1
Europe 89.0 (5.7) 83.3 76.3
Other Europe - (5.0) (5.0) -
Austria 4.4 - 4.4 -
Denmark 1.7 - 1.7 1.7
France 3.4 - 3.4 -
Germany 18.4 (0.7) 17.7 (0.7)
Ireland 4.0 - 4.0 -
Italy 3.6 - 3.6 -
Netherlands 5.6 - 5.6 -
Norway 11.0 - 11.0 6.0
Poland 1.0 - 1.0 1.0
Romania 7.7 - 7.7 3.8
Russia 1.3 - 1.3 -
Spain 8.2 - 8.2 -
Switzerland 9.0 - 9.0 3.5
United Kingdom 9.7 - 9.7 15.2
Euro - - - 45.8
North America 7.4 - 7.4 12.6
United States 7.4 - 7.4 12.6
Sub-Total 96.3 (5.7) 90.6 100.0
Cash 3.7 - 9.4 -
Total 100.0 - 100.0 100.0
Long - 39 stocks, 1 swap Short - 1 swap, 1 index
Top 10 Positions3
StockCountryIndustry%
Raiffeisen Bank Austria Financials 4.4
Prosus NV Netherlands Cons Discretionary 4.4
Booking Holdings Inc United States Cons Discretionary 4.4
Fondul GDR Romania Other 4.2
Hypoport SE Germany Financials 4.1
Saras SpA Italy Energy 3.6
Banca Transilvania Romania Financials 3.5
Golden Ocean Group Norway Industrials 3.4
Beazley PLC UK Financials 3.4
Roche Holding AG Switzerland Health Care 3.3
Total 38.5
All data as at [30 April 2020] .
  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.