Unit Pricing Dates

Unit Pricing Dates

The dates for the unit prices of the Platinum Trust Funds (Platinum International, Unhedged, Asia, European, Japan, International Brands, International Health Care and International Technology) and the Platinum Global Fund (ASX 'mFund') use the convention of stating which calendar date was used in determining the particular price.  We use 'Close of Business New York' to denote the close of the calendar day across the world.

Platinum Trust Funds & Platinum Global Fund (ASX 'mFund') Unit Pricing Date Explanation

Platinum uses a forward pricing methodology.  The applicable Australian transaction date associated with a stated 'Close of Business New York' date is generally one Business Day later, i.e. a 'Close of Business New York' date of 17 January 2017 is equivalent to an Australian transaction date of 18 January 2017.  Applications for investment in the Funds received by 3:00 pm (AEST) on a Business Day in Sydney will normally* receive the entry price calculated as at the close of business in New York for that date (which is calculated on the next Business Day in Sydney - remember New York closes approximately 14 hours after a Business Day in Sydney).

Applications for investment in the Funds received after 3:00 pm (AEST) on a Business Day in Sydney will receive the entry price of the subsequent New York close (i.e. the next Business Day in Sydney plus one).

Standard Pricing Timeline Example

An investor has deposited monies and a completed Application Form, with the necessary supporting documentation, by 3:00 pm Tuesday 17 January 2017.  This application will be transacted on the next Business Day, Wednesday 18 January 2017. Platinum waits until all markets have closed on the calendar day of Tuesday 17 January 2017.  The last market to close is New York. The New York market closes at approx. 8:00 am (AEST) on Wednesday 18 January 2017.  Platinum calculates the unit prices applicable for Wednesday 18 January 2017 by 5:00 pm that day.  Platinum uses these prices to apply the application monies deposited the previous day before cut-off.  The application transaction is dated Wednesday 18 January 2017, but the price is described as Close of Business New York Tuesday 17 January 2017 on the public web site.

A public holiday in Sydney is not a Business Day and no unit prices are calculated on such a day.  Unit prices are calculated on the next Business Day and reflect the end of the last trading day around the world's markets of the previous day.

Public Holiday Pricing Timeline Example

Consider the Queen's Birthday holiday 2017, as an example.  No unit prices will be calculated on Monday 12 June 2017, as it will be a public holiday in Sydney.  Applications for investment in the Funds received before 3:00 pm Friday 9 June 2017 will receive the entry price calculated on Tuesday 13 June 2017.  Using our normal convention, the entry price calculated on Tuesday 13 June 2017 would be described as New York close Monday 12 June 2017 on the public web site.  The investor will see the application dated Tuesday 13 June 2017.

Withdrawal requests are processed in the same manner.

Unit prices are updated on the web page at approximately 5:30 pm (AEST) each Business Day.

Please refer to 'Manage Your Investments' for detailed procedures on how to apply for units and make withdrawals, together with processing cut-off times.

* Assuming that the next day in Australia is a Business Day ~ refer to PDS for more details.