Platinum Japan Fund

Platinum Japan 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 Japan and Korea.

Monthly Updates
Date File Modified Size
5 May 2017 30 April 2017 5 May 2017 84004
7 Apr 2017 31 March 2017 7 Apr 2017 85666
8 Mar 2017 28 February 2017 8 Mar 2017 81807
7 Feb 2017 31 January 2017 7 Feb 2017 101021
9 Jan 2017 31 December 2016 9 Jan 2017 113318
7 Dec 2016 30 November 2016 7 Dec 2016 125352
7 Nov 2016 31 October 2016 7 Nov 2016 186555
10 Oct 2016 30 September 2016 11 Oct 2016 128873
8 Sep 2016 31 August 2016 8 Sep 2016 79346
5 Aug 2016 31 July 2016 5 Aug 2016 79322
11 Jul 2016 30 June 2016 11 Jul 2016 77669
7 Jun 2016 31 May 2016 7 Jun 2016 78781
6 May 2016 30 April 2016 6 May 2016 77503
7 Apr 2016 31 March 2016 7 Apr 2016 109072
7 Mar 2016 29 February 2016 9 Mar 2016 110835
5 Feb 2016 31 January 2016 5 Feb 2016 135169
8 Jan 2016 31 December 2015 11 Jan 2016 134374
7 Dec 2015 30 November 2015 7 Dec 2015 139495
6 Nov 2015 31 October 2015 6 Nov 2015 137140
8 Oct 2015 30 September 2015 8 Oct 2015 142888
31 Aug 2015 31 August 2015 7 Sep 2015 140594
7 Aug 2015 31 July 2015 7 Aug 2015 142571
13 Jul 2015 30 June 2015 13 Jul 2015 145886
5 Jun 2015 31 May 2015 5 Jun 2015 144263
7 May 2015 30 April 2015 8 May 2015 140630
9 Apr 2015 31 March 2015 9 Apr 2015 138921
6 Mar 2015 28 February 2015 6 Mar 2015 139919
6 Feb 2015 31 January 2015 6 Feb 2015 152908
8 Jan 2015 31 December 2014 8 Jan 2015 156204
5 Dec 2014 30 November 2014 5 Dec 2014 152275
7 Nov 2014 31 October 2014 10 Nov 2014 148810
8 Oct 2014 30 September 2014 8 Oct 2014 151810
8 Sep 2014 31 August 2014 8 Sep 2014 152728
5 Sep 2014 31 July 2014 5 Sep 2014 147587
9 Jul 2014 30 June 2014 9 Jul 2014 151887
6 Jun 2014 31 May 2014 6 Jun 2014 39248
7 May 2014 30 April 2014 7 May 2014 39196
7 Apr 2014 31 March 2014 7 Apr 2014 39056
7 Mar 2014 28 February 2014 7 Mar 2014 38683
7 Feb 2014 31 January 2014 7 Feb 2014 39000
31 Dec 2013 31 December 2013 8 Jan 2014 38812
6 Dec 2013 30 November 2013 6 Dec 2013 38598
7 Nov 2013 31 October 2013 7 Nov 2013 38835
30 Sep 2013 30 September 2013 8 Oct 2013 38507
9 Sep 2013 31 August 2013 9 Sep 2013 38765
31 Jul 2013 31 July 2013 7 Aug 2013 38601
30 Jun 2013 30 June 2013 9 Jul 2013 38534
31 May 2013 31 May 2013 7 Jun 2013 38385
30 Apr 2013 30 April 2013 7 May 2013 38443
31 Mar 2013 31 March 2013 8 Apr 2013 38338
28 Feb 2013 28 February 2013 8 Mar 2013 37974
31 Jan 2013 31 January 2013 13 Mar 2013 38252
31 Dec 2012 31 December 2012 22 Feb 2013 37772
30 Nov 2012 30 November 2012 22 Feb 2013 35044
31 Oct 2012 31 October 2012 22 Feb 2013 34945
30 Sep 2012 30 September 2012 22 Feb 2013 35000
31 Aug 2012 31 August 2012 22 Feb 2013 33309
31 Jul 2012 31 July 2012 22 Feb 2013 33917
30 Jun 2012 30 June 2012 22 Feb 2013 32820
31 May 2012 31 May 2012 22 Feb 2013 34290
30 Apr 2012 30 April 2012 22 Feb 2013 33585
31 Mar 2012 31 March 2012 22 Feb 2013 33268
29 Feb 2012 29 February 2012 22 Feb 2013 34041
31 Jan 2012 31 January 2012 22 Feb 2013 34872
Fund Prices
Date Entry Exit
Platinum Japan Fund 25 May 2017 4.5150 4.4924 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 Japan Fund 3.4% 4.4% 9.1% 19.0% 10.2% 20.3% 23.9% 10.1% 15.0% 30 Jun 1998 632.2 Chart
MSCI Japan Net Index in A$ 3.1% 3.3% 5.9% 12.8% 4.6% 15.3% 15.1% 2.0% 2.3% 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 166087
12 Jan 2017 31 December 2016 12 Jan 2017 250779
13 Oct 2016 30 September 2016 13 Oct 2016 212181
13 Jul 2016 30 June 2016 13 Jul 2016 179121
14 Apr 2016 31 March 2016 14 Apr 2016 177598
13 Jan 2016 31 December 2015 13 Jan 2016 183122
14 Oct 2015 30 September 2015 14 Oct 2015 318201
13 Jul 2015 30 June 2015 13 Jul 2015 295923
15 Apr 2015 31 March 2015 15 Apr 2015 184126
14 Jan 2015 31 December 2014 14 Jan 2015 188975
16 Oct 2014 30 September 2014 16 Oct 2014 146575
10 Jul 2014 30 June 2014 10 Jul 2014 128021
11 Apr 2014 31 March 2014 11 Apr 2014 87599
10 Jan 2014 31 December 2013 10 Jan 2014 81435
30 Sep 2013 30 September 2013 16 Oct 2013 111658
30 Jun 2013 30 June 2013 12 Jul 2013 82870
31 Mar 2013 31 March 2013 15 Apr 2013 90817
31 Dec 2012 31 December 2012 22 Feb 2013 72994
30 Sep 2012 30 September 2012 22 Feb 2013 65054
30 Jun 2012 30 June 2012 22 Feb 2013 90283
31 Mar 2012 31 March 2012 22 Feb 2013 102767
31 Dec 2011 31 December 2011 22 Feb 2013 77687
30 Sep 2011 30 September 2011 22 Feb 2013 121970
30 Jun 2011 30 June 2011 22 Feb 2013 107719
31 Mar 2011 31 March 2011 22 Feb 2013 80276
31 Dec 2010 31 December 2010 22 Feb 2013 92284
30 Sep 2010 30 September 2010 22 Feb 2013 105324
30 Jun 2010 30 June 2010 22 Feb 2013 57122
31 Mar 2010 31 March 2010 22 Feb 2013 71459
31 Dec 2009 31 December 2009 22 Feb 2013 90333
30 Sep 2009 30 September 2009 22 Feb 2013 128837
30 Jun 2009 30 June 2009 22 Feb 2013 79897
31 Mar 2009 31 March 2009 22 Feb 2013 93725
31 Dec 2008 31 December 2008 22 Feb 2013 92245
30 Sep 2008 30 September 2008 22 Feb 2013 77040
30 Jun 2008 30 June 2008 22 Feb 2013 130963
31 Mar 2008 31 March 2008 22 Feb 2013 100249
31 Dec 2007 31 December 2007 22 Feb 2013 153977
30 Sep 2007 30 September 2007 22 Feb 2013 145574
30 Jun 2007 30 June 2007 22 Feb 2013 134048
31 Mar 2007 31 March 2007 22 Feb 2013 175032
31 Dec 2006 31 December 2006 22 Feb 2013 190164
30 Sep 2006 30 September 2006 22 Feb 2013 114164
30 Jun 2006 30 June 2006 22 Feb 2013 91525
31 Mar 2006 31 March 2006 22 Feb 2013 214049
31 Dec 2005 31 December 2005 22 Feb 2013 166236
30 Sep 2005 30 September 2005 22 Feb 2013 175825
30 Jun 2005 30 June 2005 22 Feb 2013 79147
31 Mar 2005 31 March 2005 22 Feb 2013 86850
31 Dec 2004 31 December 2004 22 Feb 2013 252436
30 Sep 2004 30 September 2004 22 Feb 2013 169064
30 Jun 2004 30 June 2004 22 Feb 2013 78921
31 Mar 2004 31 March 2004 22 Feb 2013 374728
31 Dec 2003 31 December 2003 22 Feb 2013 135757
30 Sep 2003 30 September 2003 22 Feb 2013 176864
30 Jun 2003 30 June 2003 22 Feb 2013 123942
31 Mar 2003 31 March 2003 22 Feb 2013 129433
31 Dec 2002 31 December 2002 22 Feb 2013 123057
30 Sep 2002 30 September 2002 22 Feb 2013 105048
30 Jun 2002 30 June 2002 22 Feb 2013 28842
31 Mar 2002 31 March 2002 22 Feb 2013 28131
31 Dec 2001 31 December 2001 22 Feb 2013 28669
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 63381
30 Sep 2000 30 September 2000 22 Feb 2013 19537
30 Jun 2000 30 June 2000 22 Feb 2013 28954
31 Mar 2000 31 March 2000 22 Feb 2013 28154
31 Dec 1999 31 December 1999 22 Feb 2013 26905
30 Sep 1999 30 September 1999 22 Feb 2013 22205
30 Jun 1999 30 June 1999 22 Feb 2013 14773
31 Mar 1999 31 March 1999 22 Feb 2013 14052
Platinum Japan Fund Overview
Investment Objective

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

Where Is The Fund's Money Invested?

The Fund primarily invests in the listed securities of Japanese and Korean companies.  These companies may list their securities on exchanges other than those in Japan or Korea and the Fund may invest in them.  The Fund may invest in companies not listed in Japan or Korea but where their predominant business is conducted in Japan or Korea.

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.  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 proportion of Korean securities in the Portfolio will be limited to a maximum of 25% of the value of the Portfolio, at the time of investment.

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 Japanese and Korean 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 Japan 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

67.6

2 - 7 days

25.7

8 - 30 days

5.1

Greater than 30 days

1.6

Total

100

 

The Fund held 13.1% 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

0.5

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 3.2% 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)

89.1

Long positions

88.0

Short positions

1.1

Net (Long – Short)

86.9

 

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

Morgan Stanley Capital Services Inc.

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.