Platinum Global Fund (mFund code: PLM01)

Platinum Trust Funds and Platinum Global Fund – Trade Date

Please find below forthcoming changes to Platinum’s trade date for the Platinum Trust Funds* and the Platinum Global Fund. 

*The Platinum Trust Funds consist of the Platinum International Fund, Platinum Unhedged Fund, Platinum Asia Fund, Platinum European Fund, Platinum Japan Fund, Platinum International Brands Fund, Platinum International  Health Care Fund, Platinum International Technology Fund.

A.  Changes

As notified with the issuance of the Platinum Trust Product Disclosure Statement (PDS) No. 12 and Platinum Global Fund PDS No. 5, we intend to make the following changes with effect on and from Tuesday, 4 August 2020:

1. Trade date:
The trade date which will appear on your confirmation will be the acceptance date of your withdrawal/application request.

Currently (and historically), the date that appears on trade confirmations and statements is based on the date unit pricing is performed (i.e. generally the next business day following acceptance of your trade) as opposed to the date by reference to which the fund is valued for the purposes of calculating exit/entry prices.

The first row in the table below outlines the impact of these new changes for trades accepted by us on a business day, using Tuesday, 4 August 2020 as an example. The second row in the table shows what would happen under the existing process by way of comparison:
 

To confirm, there will be NO CHANGE with regard to:

• the date on which we will receipt and accept the trade;
• the reference date of the market close valuation;
• the date that currently appears on Platinum’s website for unit pricing; or
• the date that currently appears on the daily Platinum email with unit prices.

The only CHANGE will be that the trade date that appears on your confirmation and statement will be the acceptance date of your withdrawal/application request rather than the date that the exit/entry price was actually calculated.

2.  Definition business day:

The definition of business day will be amended to include bank holidays in Sydney, Australia - meaning that we will process withdrawal/application requests and calculate exit/entry prices on bank holidays.

3.  Public holidays:
Where a withdrawal/application request is accepted by us by 3pm AEST on a business day which falls prior to a public holiday, we will generally process those trades with an exit/entry price calculated by reference to closing prices of global equity markets on the trade acceptance date.

The first row in the table below outlines the impact of these new changes for trades accepted by us on a business day which falls prior to a public holiday, using Friday, 2 October 2020 (i.e. last business day prior to labour day on Monday, 5 October 2020) as an example. The second row in the table shows what would happen under the existing process by way of comparison:
 

B.  Transition weekend
 
The transition to the new processes outlined in Section A will take place on the forthcoming NSW bank holiday weekend (i.e. the bank holiday that falls on Monday, 3 August 2020). The first row in the table below takes you through the changes that will apply over that weekend only. The second row in the table shows what would happen under the existing process by way of comparison:
 

Change of buy/sell spreads
Effective 26 August 2019, the buy / sell spreads for the following Platinum Trust Fund and Platinum Global Fund will change to:

The buy /sell spread for the remaining Platinum Trust Funds have not changed. These are as follows:

Buy / sell spreads for the Funds are generally reviewed by Platinum every six months having regard to each Fund's historic six monthly average of transactional and operational costs over a rolling three year period.

For an explanation of the buy / sell spread, please see page 40 of the Platinum Trust Product Disclosure Statement No. 11 and Supplementary PDSs, and page 7 of the Platinum Global Fund Product Disclosure Statement No. 4.