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$560.1 million under management^ and a track record of achieving 11.0% 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 %
Financials 25.4 - 25.4
Industrials 17.7 - 17.7
Health Care 11.9 - 11.9
Consumer Discretionary 12.6 (3.3) 9.3
Communication Services 8.4 - 8.4
Energy 5.8 - 5.8
Materials 5.1 - 5.1
Information Technology 5.2 (1.6) 3.6
Real Estate 2.8 - 2.8
Consumer Staples 1.1 (1.8) (0.8)
Top 10 Positions3
StockCountryIndustry%
Applus Services SA Spain Industrials 3.4
Banco Santander SA Spain Financials 3.6
Bank of Ireland Group PLC Ireland Financials 4.1
Beazley PLC United Kingdom Financials 3.4
BioNTech SE Germany Health Care 4.6
Booking Holdings Inc United States of America Consumer Discretionary 3.8
Fondul Proprietatea SA Romania Financials 4.3
Informa PLC United Kingdom Communication Services 3.5
Prosus NV China Consumer Discretionary 3.7
Raiffeisen Bank Intl Austria Financials 3.9
Total 38.3
Disposition of Assets2
Long %Short %Net %Currency%
Asia-Pacific 3.7 - 3.7 4.1
Australia - - - 0.4
China 3.7 - 3.7 3.7
Europe 88.5 (6.7) 81.8 89.7
Austria 3.9 - 3.9 -
Denmark 1.3 - 1.3 1.3
Finland 3.2 - 3.2 -
France 9.2 (2.7) 6.6 -
Germany 16.8 (1.0) 15.8 -
Ireland 6.6 - 6.6 -
Italy 2.4 - 2.4 -
Netherlands 2.1 (2.1) 0.1 -
Norway 5.8 - 5.8 5.8
Romania 7.7 - 7.7 7.7
Spain 9.5 - 9.5 -
Switzerland 5.9 (0.5) 5.4 5.9
United Kingdom 14.0 (0.5) 13.5 15.4
Euro - - - 53.5
North America 3.8 - 3.8 6.2
United States of America 3.8 - 3.8 6.2
Sub-Total 96.0 (6.7) 89.3 100.0
Cash 4.0 - 10.7 -
Total 100.0 - 100.0 100.0
Long - 37 stocks, 1 swap Short - 7 swaps
Top 10 Positions3
StockCountryIndustry%
Applus Services SA Spain Industrials 3.4
Banco Santander SA Spain Financials 3.6
Bank of Ireland Group PLC Ireland Financials 4.1
Beazley PLC United Kingdom Financials 3.4
BioNTech SE Germany Health Care 4.6
Booking Holdings Inc United States of America Consumer Discretionary 3.8
Fondul Proprietatea SA Romania Financials 4.3
Informa PLC United Kingdom Communication Services 3.5
Prosus NV China Consumer Discretionary 3.7
Raiffeisen Bank Intl Austria Financials 3.9
Total 38.3
All data as at [31 March 2021] .
  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.