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WAYS TO INVEST

Platinum Global Fund (Long Only)

A diversified long only portfolio of companies from around the world and across industry sectors, the fund offers investors exposure to undervalued businesses in both developed and emerging markets.

Fund assets A$159.8m^ As at 30 Jun 2024

Inception date 28 Jan 2005

Return 9.8% p.a.* Compound since inception

Investment Objective

INVESTMENT OBJECTIVE & STRATEGY

Investment Objective

To provide capital growth over the long term by investing in undervalued companies from around the world.

Investment Strategy

The Platinum Global Fund (Long Only) primarily invests in listed securities. The portfolio will ideally consist of 40 to 80 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. However, the portfolio typically has around 75% or more net equity exposure.

The fund’s key investment guidelines are summarised below. For further details, please refer to the latest Product Disclosure Statement.

*Source: Platinum. The return is calculated using the net asset value per unit of C Class. It is net of accrued fees and costs, pre-tax, and assumes the reinvestment of distributions. Historical performance is not a reliable indicator of future performance.

UPDATES & REPORTS

Latest Fund Information

Quarterly Investment Manager's Report

June 2024

Monthly Investment Update

June 2024

Distribution & Tax Statement

June 2024

Financial Statements

June 2023

Performance

1m 3m 6m 1yr 2yr p.a. 3yr p.a. 5yr p.a. 10yr p.a. Since inception p.a. Inception date Portfolio value A$mil
Platinum Global Fund (Long Only) - C Class -2.26 -1.80 3.78 6.06 14.16 2.87 6.35 8.52 9.79 28 Jan 2005 157.30
Platinum Global Fund (Long Only) - P Class -2.24 -1.73 3.90 6.32 14.43 3.13 6.62 - 6.96 03 Jul 2017 2.50
MSCI AC World Net Index in A$ 1.80 0.49 13.72 18.98 19.68 9.63 11.86 12.25 8.57 28 Jan 2005 -

As at 30 June 2024.

Source: Platinum for fund returns and Rimes Technologies Inc. for index returns. Fund returns are net of accrued fees and costs, pre-tax, and assume the reinvestment of distributions. Returns in the line graph are cumulative assuming an initial investment of $20,000. All "p.a." returns are annualised. Historical performance is not a reliable indicator of future performance. Platinum does not invest by reference to the weightings of the index and the fund’s holdings may vary considerably to the make-up of the index. The index is provided as a reference only. All data where MSCI is referenced is the property of MSCI Inc. No use or distribution of this data is permitted without the written consent of MSCI Inc. The data is provided “as is” without any warranties by MSCI Inc. MSCI Inc. assumes no liability for or in connection with this data. See Terms and Conditions for full MSCI disclaimer.

PLATINUM GLOBAL FUND (LONG ONLY)

Unit Price & Distributions History

Unit Price History

Date Entry (A$) NAV per unit (A$) Exit (A$)
18 Jul 2024 1.4692 1.4677 1.4662
17 Jul 2024 1.4756 1.4741 1.4726
16 Jul 2024 1.4871 1.4856 1.4841
15 Jul 2024 1.4785 1.4770 1.4755
12 Jul 2024 1.4827 1.4812 1.4797
11 Jul 2024 1.4780 1.4765 1.4750
10 Jul 2024 1.4696 1.4681 1.4666
09 Jul 2024 1.4615 1.4600 1.4585
08 Jul 2024 1.4643 1.4628 1.4613
05 Jul 2024 1.4691 1.4676 1.4661
Download data
Learn more about unit pricing dates
Platinum uses a forward pricing methodology. Applications for investment in the fund received and identified (and accepted by us) by 3:00 pm (AEST) on a Business Day are processed with an entry price calculated for that Business Day. Applications received and indentified (and accepted by us) after 3:00pm AEST on a Business Day (but by the next cut-off time) will generally be processed using the entry price calculated for the next Business Day.
Standard Pricing Timeline
Where a withdrawal/application request is accepted by us by 3pm AEST on a Business Day, 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.
For example, where an investor has deposited monies and we have accepted their completed Application Form with the necessary supporting documentation by 3pm, Tuesday 5 December 2023, the application will generally receive the entry price calculated by reference to closing prices of global equity markets on Tuesday 5 December 2023. Withdrawal requests are processed in the same manner.
Public Holiday Pricing
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.
For example, where an investor has deposited monies and we have accepted their completed Application Form with the necessary supporting documentation by 3pm on Friday 29 September 2023, the Business Day prior to the Labour Day holiday, the application will generally receive the entry price calculated by reference to closing prices of global equity markets on Friday 29 September 2023. Withdrawal requests are processed in the same manner.
Unit prices are updated on our website at approximately 5:30 pm AEST each Business Day.
Please refer to ‘Manage your Investment’ for how to apply for units and make withdrawals.
Date Entry (A$) NAV per unit (A$) Exit (A$)
18 Jul 2024 0.9227 0.9218 0.9208
17 Jul 2024 0.9267 0.9258 0.9248
16 Jul 2024 0.9339 0.9330 0.9320
15 Jul 2024 0.9285 0.9276 0.9266
12 Jul 2024 0.9311 0.9302 0.9292
11 Jul 2024 0.9282 0.9273 0.9263
10 Jul 2024 0.9229 0.9220 0.9210
09 Jul 2024 0.9178 0.9169 0.9159
08 Jul 2024 0.9196 0.9187 0.9177
05 Jul 2024 0.9225 0.9216 0.9206
Download data
Learn more about unit pricing dates
Platinum uses a forward pricing methodology. Applications for investment in the fund received and identified (and accepted by us) by 3:00 pm (AEST) on a Business Day are processed with an entry price calculated for that Business Day. Applications received and indentified (and accepted by us) after 3:00pm AEST on a Business Day (but by the next cut-off time) will generally be processed using the entry price calculated for the next Business Day.
Standard Pricing Timeline
Where a withdrawal/application request is accepted by us by 3pm AEST on a Business Day, 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.
For example, where an investor has deposited monies and we have accepted their completed Application Form with the necessary supporting documentation by 3pm, Tuesday 5 December 2023, the application will generally receive the entry price calculated by reference to closing prices of global equity markets on Tuesday 5 December 2023. Withdrawal requests are processed in the same manner.
Public Holiday Pricing
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.
For example, where an investor has deposited monies and we have accepted their completed Application Form with the necessary supporting documentation by 3pm on Friday 29 September 2023, the Business Day prior to the Labour Day holiday, the application will generally receive the entry price calculated by reference to closing prices of global equity markets on Friday 29 September 2023. Withdrawal requests are processed in the same manner.
Unit prices are updated on our website at approximately 5:30 pm AEST each Business Day.
Please refer to ‘Manage your Investment’ for how to apply for units and make withdrawals.

Distribution History

Date Distribution
(A$ per unit)
Reinvestment
price (A$)
Distribution
Statement
30 Jun 2024 0.110740 1.4572 Download
30 Jun 2023 0.109953 1.4783 Download
30 Jun 2022 0.115412 1.2926 Download
30 Jun 2021 0.192098 1.6854 Download
30 Jun 2020 0.087011 1.4135 Download
30 Jun 2019 0.084555 1.5947 Download
30 Jun 2018 0.148302 1.6974 Download
30 Jun 2017 0.168414 1.5565 Download
30 Jun 2016 0.072805 1.3096 Download
30 Jun 2015 0.129225 1.5337 Download

The distributions shown above are historical and no warranty can be given for future distributions.

The fund may earn income (such as dividends and interest) from its investments and may also realise capital gains or losses on the sale of its investments. Income and net realised capital gains are distributed to unitholders annually as at 30 June. The components of the distribution will vary from year to year, the details of which are set out in the annual distribution and tax statements provided to unitholders. There may also be times when no distribution is payable.

Distributions are calculated in dollars-per-unit on the number of units held by a unitholder as at the end of the distribution date. This means that a unitholder’s distribution entitlement from the fund is not pro-rated for the duration of the unitholder’s investment in the fund during the tax year.

When a distribution is made, the unit price will fully reflect the distribution.

Unitholders will generally receive their entitlement (if payable) within 15 Business Days after the distribution date.

Unitholders may elect to have their distribution entitlement:
  • reinvested as additional units in the same unit class of the fund;
  • paid into the unitholder’s nominated financial institution account; or
  • fixed cash distribution option, currently set at 4% per annum
If no election is made, the unitholder’s distribution entitlement will be automatically reinvested. Additional units will be issued at the net asset value unit price on the relevant Business Day, and the buy spread will not apply.

Visit Manage your Investment to change your distribution election.
Date Distribution
(A$ per unit)
Reinvestment
price (A$)
Distribution
Statement
30 Jun 2024 0.072369 0.9151 Download
30 Jun 2023 0.051701 0.9287 Download
30 Jun 2022 0.090216 0.7960 Download
30 Jun 2021 0.126633 1.0580 Download
30 Jun 2020 0.059832 0.8896 Download
30 Jun 2019 0.059749 1.0066 Download
30 Jun 2018 0.096178 1.0751 Download

The distributions shown above are historical and no warranty can be given for future distributions.

The fund may earn income (such as dividends and interest) from its investments and may also realise capital gains or losses on the sale of its investments. Income and net realised capital gains are distributed to unitholders annually as at 30 June. The components of the distribution will vary from year to year, the details of which are set out in the annual distribution and tax statements provided to unitholders. There may also be times when no distribution is payable.

Distributions are calculated in dollars-per-unit on the number of units held by a unitholder as at the end of the distribution date. This means that a unitholder’s distribution entitlement from the fund is not pro-rated for the duration of the unitholder’s investment in the fund during the tax year.

When a distribution is made, the unit price will fully reflect the distribution.

Unitholders will generally receive their entitlement (if payable) within 15 Business Days after the distribution date.

Unitholders may elect to have their distribution entitlement:
  • reinvested as additional units in the same unit class of the fund;
  • paid into the unitholder’s nominated financial institution account; or
  • fixed cash distribution option, currently set at 4% per annum
If no election is made, the unitholder’s distribution entitlement will be automatically reinvested. Additional units will be issued at the net asset value unit price on the relevant Business Day, and the buy spread will not apply.

Visit Manage your Investment to change your distribution election.

PLATINUM GLOBAL FUND (LONG ONLY)

Fund Facts

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Name Platinum Global Fund (Long Only)
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 or NZ$10,000
A$5,000 or NZ$5,000 under regular investment plan
How to Invest & Transact Download Invest & Transact PDF
Buy/Sell Spread 0.15% / 0.15% 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
For more information about fees and costs: Download Fees & Costs PDF
Offer Document Download Product Disclosure Statement Or request a free hard copy
Continuous Disclosure Download Continuous Disclosure PDF

Ready to Invest with Platinum?

PLATINUM GLOBAL FUND (LONG ONLY)

Forms

These forms are intended for Australian and New Zealand residents.

If you are not a resident in Australia or New Zealand, contact us to find out whether you are eligible to invest in the fund.

Make an initial investment (new account)
Make an additional investment (existing account)
Update my details
Set up, amend or cancel a regular investment plan (AU only)
Set up, amend or cancel a regular investment plan (NZ only)
Switch an investment
Transfer an investment
Withdraw an investment
Authorise someone to access my account (individual representative)
Authorise someone to access my account (corporate representative)
Register for secure online access
Change my distribution election

OUR TEAM

The Team Behind Your Investments

Clay Smolinski

Co-Chief Investment Officer and Co-Portfolio Manager – Global strategies

View profile

PLATINUM GLOBAL FUND (LONG ONLY)

FAQs

The Platinum Global Fund (Long Only) does not engage in short selling but may use derivatives to achieve long equity exposure and for currency management purposes.
The investment strategy for these products is the same, the key differences relate to the structure of the product.
  • PGFLO, PIF and PGF (mFund) are structured as unit trusts. PIXX is a registered managed investment scheme and PMC is a Listed Investment Company (“LIC”).
  • PGFLO, PIF and PGF (mFund) are unlisted, PIXX is quoted on the ASX AQUA Market and PMC is listed on the ASX.
  • PGFLO, PIF, PGF (mFund) and PIXX distribute all taxable income (including net realised gains) to unit holders at 30 June, these distributions do not carry franking credits. As a LIC, subject to cash flows and the availability of franking credits and accounting profits, PMC aims to pay franked dividends to shareholders.
You can compare these products and others that we offer using our comparison tool https://www.platinum.com.au/product-comparison.
The portfolio holdings are not published in full for the Fund, however, the latest Monthly Update is available at the following link and provides details of the invested position, top ten stock positions and industry https://www.platinum.com.au/managed-funds/pgflo#updates.
The Fund aims to provide capital growth over the long-term by investing in undervalued companies from around the world.
Please note that the Platinum Global Fund (Long Only) does not engage in short selling but may use derivatives to achieve long equity exposure and for currency management purposes.
 
Currency is actively managed within the Fund, using foreign exchange forwards, swaps, non-deliverable forwards, options and cash foreign exchange trades.
The latest Monthly Update for the Fund is available at the following link https://www.platinum.com.au/managed-funds/pgflo#updates and provides details of the invested position, top ten stock positions and industry breakdown.
The Fund may earn income (such as dividends and interest) throughout the financial year and may also realise capital gains or losses on the sale of investments. Income and net realised capital gains will be distributed to Investors annually as at 30 June.
Please note that the level of income can vary significantly from year to year as this is primarily influenced by realised gains made (on equities and derivative contracts) within a Fund.

^As at 31 May 2024. Inclusive of both C Class and P Class.
*Fund returns are annualised, are calculated using the net asset value per unit (which does not include the buy/sell spread) of C Class (standard fee option) of the fund, and represent the combined income and capital returns of C Class over the period from its inception date (28 January 2005) to 31 May 2024. Returns are net of accrued fees and costs, are pre-tax, and assume the reinvestment of distributions. The investment returns shown are historical and no warranty can be given for future performance. Historical performance is not a reliable indicator of future performance. Source: Platinum Investment Management Limited.

From 'The Journal'

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