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Platinum Global Fund (Long Only)

A high conviction international equities portfolio investing in industry leaders across all market caps, the Fund offers investors exposure to high quality companies in well-structured industries.

Fund manager

David Steinthal

David Steinthal

Chief Investment Officer, L1 Capital International | Portfolio Manager, Platinum International Fund and Platinum Global Fund (Long Only)

Fund overview

Fund inception date

28 January 2005

Investment approach

The Fund aims to outperform the MSCI World Net Total Return Index in AUD net of fees and expenses over rolling 5-year periods.

Investment objective

The Platinum Global Fund (Long Only) is a high conviction international equities strategy – typically investing in ~25 high quality companies with favourable cashflow-based valuations in well-structured industries using fundamental, bottom-up analysis with detailed risk assessment. L1 Capital International applies a high buy threshold, only recommending high quality businesses at attractive valuations. The portfolio is permitted to have 75% or more net equity exposure but is typically fully invested (i.e. holds <5% cash). The portfolio’s industry exposure is flexible without the constraints of market benchmarks or artificial concepts such as ‘Growth’ or ‘Value’, as well as investing in a wide range of companies by size.

ARSN

123 939 471

Legal Structure

Unlisted, open-ended unit trust

Unit Classes

• C Class ‘Standard Fee’
• P Class ‘Performance Fee’

Distribution

Annually at 30 June

Minimum Investments

A$10,000

Buy/Sell Spread

0.10% / 0.10% of NAV unit price

Management Costs

C Class Standard fee option: 1.35% p.a. of NAV
P Class Performance fee option: 1.10% p.a. of NAV plus 15% p.a. of outperformance over benchmark

Investment Manager

L1 Capital International Pty Limited (ACN 628 068 717), an authorised representative (no. 1273764) of L1 Capital Pty Ltd (ACN 125 378 145, AFSL 314 302)

Fund performance

Net performance as at **DATE** for Platinum Global Fund (Long Only). Since inception date for C Class is 28 January 2005 and for P Class is 03 July 2017. Past performance should not be taken as an indicator of future performance.

Source: Platinum for Fund returns and FactSet Research Systems Inc. (“FactSet”) for MSCI returns. On 1 October 2025 L1 Capital International Pty Ltd (L1 Capital International) became the Fund’s appointed sub investment adviser, changing the portfolio of the Fund to a concentrated long only style from a diversified long short style. The benchmark changed to the MSCI World Net Total Return Index. Investors should not expect the returns of the Fund prior to 1 October 2025 to any way be indicative of future returns. Returns prior to 1 October 2025 have been shown for information purposes only. Investors should exercise extreme caution in placing any reliance on these returns for the purposes of making any decisions about an investment in the Fund. Investment returns are calculated using the Fund’s NAV unit price (i.e. exclude a buy/sell spread) for C Class and P Class (as indicated) and represent the combined income and capital returns for each of these unit classes in the specified period. All returns are pre-tax, net of fees and costs and assume the reinvestment of distributions. Returns for P Class are net of any accrued investment performance fee.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

*MSCI World Net Total Return Index in A$.

Unit Pricing | C Class

Unit pricing
NAV Price
Entry
Exit

See our Unit Pricing page for more information about Platinum’s unit pricing methodology.

From
To

Unit Pricing | P Class

Unit pricing
NAV Price
Entry
Exit

See our Unit Pricing page for more information about Platinum’s unit pricing methodology.

From
To

Fund reports

Download
May 2026
April 2026
March 2026
February 2026
January 2026
December 2025
November 2025
October 2025
September 2025
August 2025
July 2025
June 2025

Continuous disclosure

View the continuous disclosure for important information relating to the Fund.

Distribution history

For historical distribution information across all funds, please visit the distribution history page.

Invest now

Platinum Global Fund (Long Only)

Invest online
Additional resources
Product Disclosure Statement
Target Market Determination (TMD) | C Class
Target Market Determination (TMD) | P Class
Additional Application form
Redemption form

Please contact us for further assistance.

This page has been prepared by Platinum Investment Management Limited ABN 25 063 565 006 AFSL 221935, trading as Platinum Asset Management (“Platinum”) is the responsible entity and issuer of units in the Platinum Global Fund (Long Only) (“Fund”). The Platinum Trust® Product Disclosure Statement (the “PDS”) provides details about the Fund. You can obtain a copy of the PDS from Platinum’s website www.platinum.com.au, or by contacting Investor Services on 1300 726 700 (Australian investors only), or 0800 700 726 (New Zealand investors only), or 02 9255 7500, or via invest@platinum.com.au. The Fund’s target market determination is available in the following links: P Class and C Class. ​

The information contained in this presentation is general information only and not intended to be financial product advice. It has not been prepared taking into account any particular investor’s or class of investors’ investment objectives, financial situation or needs, and should not be used as the basis for making investment, financial or other decisions. You should read the entire PDS and consider your particular investment objectives, financial situation and needs prior to making any investment decision to invest in the Fund. You should also obtain professional advice prior to making an investment decision.​

Commentary reflects Platinum’s views and beliefs at the time of preparation, which are subject to change without notice. While the information in this page has been prepared in good faith and with reasonable care, no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any statements, estimates, opinions or other information contained in the presentation, and to the extent permitted by law, no liability is accepted by any company of the L1 Group or their directors, officers or employees for any loss or damage as a result of any reliance on this information. The L1 Group means L1 Group Limited ABN 13 050 064 287 and all of its subsidiaries and associated entities (including Platinum). Some numerical figures in this presentation have been subject to rounding adjustments. Certain information contained in this presentation may constitute “forward-looking statements”. Due to various risks and uncertainties, actual events or results, may differ materially from those reflected or contemplated in such forward-looking statements and no undue reliance should be placed on those forward-looking statements. ​​

Any reference to long positions in this presentation means a position which the portfolio holds in an attempt to benefit from an increase in value of the underlying security of the position. Any reference to short positions means a position in which the portfolio holds in an attempt to benefit from a decrease in value of the underlying security of the position. Accordingly, long positions represent the Fund’s exposure to direct long securities positions and indirect long securities/index positions through derivatives; and short positions represent the Fund’s exposure to direct short securities positions and indirect short securities/index positions through derivatives, each as a percentage of the Fund’s NAV.​