Platinum European Fund

Platinum European Fund

The investment objective of this Fund is to provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments in companies in the European region.

Monthly Updates
Date File Modified Size
5 May 2017 30 April 2017 5 May 2017 86731
7 Apr 2017 31 March 2017 3 May 2017 87066
8 Mar 2017 28 February 2017 8 Mar 2017 82173
7 Feb 2017 31 January 2017 7 Feb 2017 117056
9 Jan 2017 31 December 2016 9 Jan 2017 129108
7 Dec 2016 30 November 2016 7 Dec 2016 130896
7 Nov 2016 31 October 2016 7 Nov 2016 186524
10 Oct 2016 30 September 2016 11 Oct 2016 130561
8 Sep 2016 31 August 2016 8 Sep 2016 79021
5 Aug 2016 31 July 2016 5 Aug 2016 82503
11 Jul 2016 30 June 2016 11 Jul 2016 80345
7 Jun 2016 31 May 2016 7 Jun 2016 82539
6 May 2016 30 April 2016 6 May 2016 80022
7 Apr 2016 31 March 2016 7 Apr 2016 112900
7 Mar 2016 29 February 2016 9 Mar 2016 113323
5 Feb 2016 31 January 2016 5 Feb 2016 139016
8 Jan 2016 31 December 2015 11 Jan 2016 136640
7 Dec 2015 30 November 2015 7 Dec 2015 142892
6 Nov 2015 31 October 2015 6 Nov 2015 140589
8 Oct 2015 30 September 2015 8 Oct 2015 146740
31 Aug 2015 31 August 2015 7 Sep 2015 148768
7 Aug 2015 31 July 2015 7 Aug 2015 145185
14 Jul 2015 30 June 2015 14 Jul 2015 145836
5 Jun 2015 31 May 2015 5 Jun 2015 144898
7 May 2015 30 April 2015 8 May 2015 139733
9 Apr 2015 31 March 2015 9 Apr 2015 139394
6 Mar 2015 28 February 2015 6 Mar 2015 138947
6 Feb 2015 31 January 2015 6 Feb 2015 138755
8 Jan 2015 31 December 2014 8 Jan 2015 139008
5 Dec 2014 30 November 2014 5 Dec 2014 138320
7 Nov 2014 31 October 2014 7 Nov 2014 138644
8 Oct 2014 30 September 2014 8 Oct 2014 139442
8 Sep 2014 31 August 2014 8 Sep 2014 142414
5 Sep 2014 31 July 2014 5 Sep 2014 140086
9 Jul 2014 30 June 2014 9 Jul 2014 140351
6 Jun 2014 31 May 2014 6 Jun 2014 39348
7 May 2014 30 April 2014 7 May 2014 39255
7 Apr 2014 31 March 2014 7 Apr 2014 39193
7 Mar 2014 28 February 2014 7 Mar 2014 39028
7 Feb 2014 31 January 2014 7 Feb 2014 39228
31 Dec 2013 31 December 2013 8 Jan 2014 39245
6 Dec 2013 30 November 2013 6 Dec 2013 39007
7 Nov 2013 31 October 2013 7 Nov 2013 39022
30 Sep 2013 30 September 2013 8 Oct 2013 38853
9 Sep 2013 31 August 2013 9 Sep 2013 39167
31 Jul 2013 31 July 2013 7 Aug 2013 38911
30 Jun 2013 30 June 2013 8 Jul 2013 38900
31 May 2013 31 May 2013 7 Jun 2013 38899
30 Apr 2013 30 April 2013 7 May 2013 38823
31 Mar 2013 31 March 2013 10 Apr 2013 39308
28 Feb 2013 28 February 2013 8 Mar 2013 38741
31 Jan 2013 31 January 2013 22 Feb 2013 38574
31 Dec 2012 31 December 2012 22 Feb 2013 38796
30 Nov 2012 30 November 2012 22 Feb 2013 34972
31 Oct 2012 31 October 2012 22 Feb 2013 35807
30 Sep 2012 30 September 2012 22 Feb 2013 36048
31 Aug 2012 31 August 2012 22 Feb 2013 34099
31 Jul 2012 31 July 2012 22 Feb 2013 34110
30 Jun 2012 30 June 2012 22 Feb 2013 33048
31 May 2012 31 May 2012 22 Feb 2013 33822
30 Apr 2012 30 April 2012 22 Feb 2013 34435
31 Mar 2012 31 March 2012 22 Feb 2013 33645
29 Feb 2012 29 February 2012 22 Feb 2013 33876
31 Jan 2012 31 January 2012 22 Feb 2013 34526
Fund Prices
Date Entry Exit
Platinum European Fund 24 May 2017 3.6819 3.6635 Price History

Click here for an explanation of unit pricing dates.

Fund Performance
As at 30 April 2017
1 Mth 3 Mths 6 Mths 1 Year 2 Years PA 3 Years PA 5 Years PA 10 Years PA Since Inception PA Inception Date Fund A$ Mil
Platinum European Fund 6.7% 10.4% 20.3% 21.3% 9.9% 11.0% 15.5% 7.6% 12.0% 30 Jun 1998 486.8 Chart
MSCI AC Europe Net Index in A$ 5.6% 10.4% 16.5% 13.2% 2.5% 6.0% 13.6% 1.3% 2.7% 30 Jun 1998

Investment returns are calculated using the Fund's unit price and represent the combined income and capital return for the specified period. They are net of fees and costs (excluding the buy-sell spread and any investment performance fee payable), pre-tax and assume the reinvestment of distributions.
The investment returns shown are historical and no warranty can be given for future performance. You should be aware that historical performance is not a reliable indicator of future performance. Due to the volatility of the underlying assets of the Fund and other risk factors associated with investing, investment returns can be negative (particularly in the short-term).

MSCI Disclaimer: Neither MSCI Inc nor any other party involved in or related to compiling, computing or creating the Index 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 Inc, any of its affiliates or any third party involved in or related to compiling, computing or creating the data will 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 Index data is permitted without the express written consent of MSCI Inc.

Quarterly Reports
Date File Modified Size
13 Apr 2017 31 March 2017 13 Apr 2017 164648
12 Jan 2017 31 December 2016 12 Jan 2017 245220
13 Oct 2016 30 September 2016 13 Oct 2016 204014
13 Jul 2016 30 June 2016 13 Jul 2016 283403
14 Apr 2016 31 March 2016 14 Apr 2016 253048
13 Jan 2016 31 December 2015 13 Jan 2016 185401
14 Oct 2015 30 September 2015 14 Oct 2015 239476
13 Jul 2015 30 June 2015 13 Jul 2015 224482
15 Apr 2015 31 March 2015 15 Apr 2015 223449
14 Jan 2015 31 December 2014 14 Jan 2015 218672
16 Oct 2014 30 September 2014 16 Oct 2014 165913
10 Jul 2014 30 June 2014 10 Jul 2014 177202
11 Apr 2014 31 March 2014 11 Apr 2014 78010
10 Jan 2014 31 December 2013 10 Jan 2014 76905
30 Sep 2013 30 September 2013 16 Oct 2013 77491
30 Jun 2013 30 June 2013 12 Jul 2013 82143
31 Mar 2013 31 March 2013 15 Apr 2013 86335
31 Dec 2012 31 December 2012 22 Feb 2013 84122
30 Sep 2012 30 September 2012 22 Feb 2013 101959
30 Jun 2012 30 June 2012 22 Feb 2013 77335
31 Mar 2012 31 March 2012 22 Feb 2013 64667
31 Dec 2011 31 December 2011 22 Feb 2013 78782
30 Sep 2011 30 September 2011 22 Feb 2013 118483
30 Jun 2011 30 June 2011 22 Feb 2013 110967
31 Mar 2011 31 March 2011 22 Feb 2013 76532
31 Dec 2010 31 December 2010 22 Feb 2013 116058
30 Sep 2010 30 September 2010 22 Feb 2013 81763
30 Jun 2010 30 June 2010 22 Feb 2013 66883
31 Mar 2010 31 March 2010 22 Feb 2013 76796
31 Dec 2009 31 December 2009 22 Feb 2013 83393
30 Sep 2009 30 September 2009 22 Feb 2013 103907
30 Jun 2009 30 June 2009 22 Feb 2013 68065
31 Mar 2009 31 March 2009 22 Feb 2013 87345
31 Dec 2008 31 December 2008 22 Feb 2013 104759
30 Sep 2008 30 September 2008 22 Feb 2013 91380
30 Jun 2008 30 June 2008 22 Feb 2013 155495
31 Mar 2008 31 March 2008 22 Feb 2013 82408
31 Dec 2007 31 December 2007 22 Feb 2013 141166
30 Sep 2007 30 September 2007 22 Feb 2013 158357
30 Jun 2007 30 June 2007 22 Feb 2013 141716
31 Mar 2007 31 March 2007 22 Feb 2013 159674
31 Dec 2006 31 December 2006 22 Feb 2013 149943
30 Sep 2006 30 September 2006 22 Feb 2013 134240
30 Jun 2006 30 June 2006 22 Feb 2013 65254
31 Mar 2006 31 March 2006 22 Feb 2013 257691
31 Dec 2005 31 December 2005 22 Feb 2013 234619
30 Sep 2005 30 September 2005 22 Feb 2013 148935
30 Jun 2005 30 June 2005 22 Feb 2013 70529
31 Mar 2005 31 March 2005 22 Feb 2013 84552
31 Dec 2004 31 December 2004 22 Feb 2013 217796
30 Sep 2004 30 September 2004 22 Feb 2013 179496
30 Jun 2004 30 June 2004 22 Feb 2013 309425
31 Mar 2004 31 March 2004 22 Feb 2013 137513
31 Dec 2003 31 December 2003 22 Feb 2013 155307
30 Sep 2003 30 September 2003 22 Feb 2013 184604
30 Jun 2003 30 June 2003 22 Feb 2013 135837
31 Mar 2003 31 March 2003 22 Feb 2013 120922
31 Dec 2002 31 December 2002 22 Feb 2013 134741
30 Sep 2002 30 September 2002 22 Feb 2013 135197
30 Jun 2002 30 June 2002 22 Feb 2013 26324
31 Mar 2002 31 March 2002 22 Feb 2013 29170
31 Dec 2001 31 December 2001 22 Feb 2013 27726
30 Sep 2001 30 September 2001 22 Feb 2013 419718
30 Jun 2001 30 June 2001 22 Feb 2013 403951
31 Mar 2001 31 March 2001 22 Feb 2013 339611
31 Dec 2000 31 December 2000 22 Feb 2013 28394
30 Sep 2000 30 September 2000 22 Feb 2013 20360
30 Jun 2000 30 June 2000 22 Feb 2013 23675
31 Mar 2000 31 March 2000 22 Feb 2013 24380
31 Dec 1999 31 December 1999 22 Feb 2013 27925
30 Sep 1999 30 September 1999 22 Feb 2013 17454
30 Jun 1999 30 June 1999 22 Feb 2013 12994
31 Mar 1999 31 March 1999 22 Feb 2013 14016
Platinum European Fund Overview
Investment Objective

To provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments in the European region.

Where Is The Fund's Money Invested?

The Fund primarily invests in the listed securities of European companies.  European companies may list their securities on exchanges other than those in Europe and the Fund may invest in those securities.  The Fund may invest in companies not listed in Europe but where their predominant business is conducted in Europe.

Platinum defines “Europe” as all countries from the UK to the Ural Mountains, a line which runs from the Arctic to the Caspian Sea and then to the Black Sea, and including the Russian Federation, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan, Azerbaijan, Armenia and Georgia.

The Portfolio will ideally consist of 30 to 70 securities that Platinum believes to be undervalued by the market.  Cash may be held when undervalued securities cannot be found.  Platinum may short sell securities that it considers overvalued.  Refer further to the 'Monthly Updates’ above.

The Portfolio will typically have 50% or more net equity exposure.

The Portfolio is constructed in accordance with Platinum’s 'Investment Process’.

This Fund May Be Suited To You If You
  • Believe in the long-term wealth creation potential of share investments.
  • Wish to achieve investment diversification by accessing European share market opportunities.
  • Accept that returns over the shorter term may fluctuate and that returns may even be negative.
Minimum Suggested Time Horizon

Five or more years.

Income Distribution

Annually as at 30 June.

Platinum Trust Funds Overview
Structure

Australian resident open-ended unit trusts registered under Australian law as managed investment schemes.

Dealing Costs

Buy-sell spread 0.50% of the Net Asset Value unit price (i.e. buy costs are 0.25% of the NAV unit price and sell costs are 0.25% of the NAV unit price).  There are no establishment, contribution or withdrawal fees and no adviser service fees (i.e. trailing commissions).

Management Expense Ratio / Indirect Cost Ratio

1.54% per annum (standard investment option) - includes GST, administration costs (0.10% p.a. of the NAV) and investment costs (1.44% p.a. of the NAV).

Minimum Investment

The minimum initial investment is A$20,000 or NZ$20,000 per Fund.  There is no minimum for additional investments.  The minimum investment balance is A$20,000 per Fund.

Minimum Initial Investment for Regular Investment Plan

A$5,000 or NZ$5,000 per Fund.

Application and Withdrawals

Every Sydney business day.

Additional Investments

Additional applications may be made by written request (letter, facsimile or email).  You will need to make reference to your investment account number and name, the Fund and amount you wish to invest, and how your monies will be transferred to Platinum.  Alternatively, you can use the Additional Investment Form.

If you are making an additional investment to a Fund that you are not currently invested in, the minimum initial investment amount applies.

Regular Investment Plan

You can regularly add to your existing investments monthly or quarterly.  A minimum investment of A$200 or NZ$250 per month or quarter applies (for each Fund you select under the plan).  To nominate a Fund under the regular investment plan you must have initially invested in that Fund.  Regular Investment Plan Form.

Reporting

Transaction confirmations, holding statements, quarterly investment reports and annual distribution and tax statements.  Investors may access their account from Platinum's secure client website.

Unit Prices

Calculated every Sydney business day. 

APIR Codes

PLA0002AU Platinum International Fund
PLA0006AU Platinum Unhedged Fund
PLA0004AU Platinum Asia Fund
PLA0001AU Platinum European Fund
PLA0003AU Platinum Japan Fund
PLA0100AU Platinum International Brands Fund
PLA0005AU Platinum International Health Care Fund
PLA0101AU Platinum International Technology Fund

Responsible Entity / Issuer

Platinum Investment Management Limited (trading as Platinum Asset Management) ABN 25 063 565 006 AFSL 221935.

Auditor

PricewaterhouseCoopers.

Custodian

State Street Australia Limited.

Distributions And Tax
Date File Modified Size
11 Jul 2016 30 June 2016 11 Jul 2016 133522
9 Jul 2015 30 June 2015 9 Jul 2015 136475
9 Jul 2014 30 June 2014 9 Jul 2014 39623
30 Jun 2013 30 June 2013 8 Jul 2013 40359
30 Jun 2012 30 June 2012 24 Feb 2013 34629
30 Jun 2011 30 June 2011 24 Feb 2013 75111
30 Jun 2010 30 June 2010 24 Feb 2013 29109
30 Jun 2009 30 June 2009 24 Feb 2013 28154
30 Jun 2008 30 June 2008 24 Feb 2013 17313
30 Jun 2007 30 June 2007 24 Feb 2013 17056
30 Jun 2006 30 June 2006 24 Feb 2013 16648
30 Jun 2005 30 June 2005 24 Feb 2013 118596
30 Jun 2004 30 June 2004 24 Feb 2013 12452
30 Jun 2003 30 June 2003 24 Feb 2013 63206
30 Jun 2002 30 June 2002 24 Feb 2013 54486
30 Jun 2001 30 June 2001 24 Feb 2013 45790
30 Jun 2000 30 June 2000 24 Feb 2013 7794
Financial Statements
Date File Modified Size
30 Aug 2016 30 June 2016 30 Aug 2016 3205943
31 Aug 2015 30 June 2015 31 Aug 2015 2146603
22 Aug 2014 30 June 2014 22 Aug 2014 2987881
30 Jun 2013 30 June 2013 22 Aug 2013 340266
30 Jun 2012 30 June 2012 24 Feb 2013 817098
30 Jun 2011 30 June 2011 24 Feb 2013 908108
30 Jun 2010 30 June 2010 24 Feb 2013 330523
30 Jun 2009 30 June 2009 24 Feb 2013 333389
30 Jun 2008 30 June 2008 24 Feb 2013 266225
30 Jun 2007 30 June 2007 24 Feb 2013 198529
30 Jun 2006 30 June 2006 24 Feb 2013 238332
30 Jun 2005 30 June 2005 24 Feb 2013 232911
30 Jun 2004 30 June 2004 24 Feb 2013 193841
30 Jun 2003 30 June 2003 24 Feb 2013 238085
30 Jun 2002 30 June 2002 24 Feb 2013 208240
30 Jun 2001 30 June 2001 24 Feb 2013 123477
30 Jun 2000 30 June 2000 24 Feb 2013 111053
Continuous Disclosure

Continuous disclosure for the Platinum European Fund as at 30 June, 2016 (the “reporting period”)

On an annual basis, Platinum is required to provide the following continuous disclosure information.

Liquidity profile

Time to liquidate

Percentage of Fund

1 day

58.6

2 - 7 days

25.2

8 - 30 days

8.9

Greater than 30 days

7.3

Total

100

 

The Fund held 23.3% in cash as at the reporting period.

Financial liabilities

Maturity

Percentage of Fund

0 - 30 days

2.7

31 -  60 days

0.0

61 - 90 days

0.4

91 - 180 days

0.0

 

The financial liabilities of the Fund are generally limited to: monies owed by the Fund on equity securities purchased; unrealised losses on derivatives; amounts owed to counterparties on forward FX contracts and, management and administration fees payable to Platinum. The Fund does not have any outstanding loans and does not borrow for investment or other purposes.

Total financial liabilities represented 3.1% of the market value of the net assets of the Fund as at the reporting period.

Leverage

The maximum allowed leverage in a Fund is 150% of the NAV of the Fund, that is, for every $1 invested, the gross invested position of the Fund taking into account all securities and derivatives held, is limited to $1.50. For the purposes of this calculation, the underlying effective value of the derivatives is used. Further, this limitation includes all positions and does not allow for netting of any offsetting positions.

Leverage as at the reporting period

 

Percentage of the Fund’s NAV

Gross (Long + Short)

78.5

Long positions

77.6

Short positions

0.9

Net (Long – Short)

76.7

 

Over the counter (“OTC”) counterparties

The Fund can enter into derivative contracts with the following counterparties through International Swaps and Derivatives Association (“ISDA”) contracts.

Australian and New Zealand Banking Group Limited

Credit Suisse Securities (Europe) Limited

Citigroup Global Markets Limited

Citibank N.A.

Deutsche Bank A.G. London

Goldman Sachs International

J.P. Morgan Chase N.A.

Merrill Lynch International

Morgan Stanley & Co International Limited

Nomura International plc.

UBS AG

Offer document (PDS)
Product Disclosure Statement

The latest Platinum Trust Product Disclosure Statement ("PDS") was issued dated 9 December 2015.  

The PDS (open to persons receiving it in Australia and New Zealand) is for the following Funds:

  • Platinum International
  • Platinum Unhedged
  • Platinum Asia
  • Platinum European
  • Platinum Japan
  • Platinum International Brands
  • Platinum International Health Care
  • Platinum International Technology


This website is only intended for either Australian or New Zealand residents.

Download a PDS.  By clicking here you confirm that you are not a US citizen or US tax resident.

OR

Request a hardcopy of our Product Disclosure Statement by completing our online form or telephoning or faxing Investor Services.

Forms - Platinum International Fund, Platinum Asia Fund, Platinum Int'l Brands Fund etc

These forms relate to the Platinum Trust Funds. 

This website and these forms are intended for Australian and New Zealand residents.

Online Forms - Complete Online, Print & Sign
Standard Forms - Print, Complete & Sign
Initial Investment Form - New Account Initial Investment Form - New Account (At the back of the current Product Disclosure Statement)
Additional Investment Form Additional Investment Form
Regular Investment Plan Form (Australian financial institutions) Regular Investment Plan Form (Australian financial institutions)
New Zealand Specific Direct Debit Authority Form New Zealand Specific Direct Debit Authority Form
Change of Details Form Change of Details Form
Switch Form Switch Form
Withdrawal Form Withdrawal Form
Operating Authority Form (individual representative) Operating Authority Form (individual representative)
Operating Authority Form (corporate representative) Operating Authority Form (corporate representative)
FATCA Self-certification FATCA Self-certification
  Australian Standard Transfer Form (instructions for completion)

    Request a hardcopy of our Product Disclosure Statement by post.