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$952.8 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 %Net %
Industrials 22.8 22.1
Financials 19.3 18.9
Consumer Discretionary 11.8 10.6
Health Care 11.6 11.6
Energy 7.9 7.9
Communication Services 6.0 5.4
Materials 6.0 4.6
Information Technology 5.1 4.6
Other 2.5 2.5
Consumer Staples 0.4 (1.6)
Top 10 Positions3
StockCountryIndustry%
Raiffeisen Bank International AG Austria Financials 4.4
TechnipFMC PLC UK Energy 3.7
Glencore plc Switzerland Materials 3.5
RELX PLC UK Industrials 3.2
Roche Holding AG Switzerland Health Care 3.1
Applus Services SA Spain Industrials 3.0
IHS Markit Ltd USA Industrials 3.0
Siemens Gamesa Renewable Energy SA Spain Industrials 2.9
Booking Holdings USA Consumer Discretionary 2.8
Schibsted ASA Norway Communication Services 2.7
Disposition of Assets2
Long %Net %Currency%
Austria 7.2 7.2 -
Denmark 2.2 2.2 2.2
France 6.0 6.0 -
Germany 17.6 16.7 -
Hungary 1.0 1.0 1.0
Ireland 3.4 3.4 -
Italy 2.1 2.1 -
Netherlands 0.9 0.4 -
Norway 9.5 9.5 13.5
Poland 2.9 2.9 2.9
Romania 5.1 5.1 2.5
Russia 2.1 2.1 -
Spain 7.4 6.7 -
Sweden - (0.8) -
Switzerland 9.9 8.4 14.3
United Kingdom 10.5 8.1 11.7
United States 5.8 5.8 3.6
Australian Dollar - - 0.1
Czech Koruna - - 7.5
Euro Currency - - 40.8
Long: 52 stocks. 1 swap. Short: 9 stocks.
Top 10 Positions3
StockCountryIndustry%
Raiffeisen Bank International AG Austria Financials 4.4
TechnipFMC PLC UK Energy 3.7
Glencore plc Switzerland Materials 3.5
RELX PLC UK Industrials 3.2
Roche Holding AG Switzerland Health Care 3.1
Applus Services SA Spain Industrials 3.0
IHS Markit Ltd USA Industrials 3.0
Siemens Gamesa Renewable Energy SA Spain Industrials 2.9
Booking Holdings USA Consumer Discretionary 2.8
Schibsted ASA Norway Communication Services 2.7
All data as at [30 April 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.