Influential research house Morningstar has downgraded Platinum’s Asia fund after CIO Andrew Clifford stepped away from the $2.2 billion strategy.
Influential research house Morningstar has downgraded the investment manager’s Asia fund in response to chief investment officer Andrew Clifford stepping away from the $2.2 billion strategy.Platinum Asia now carries a “neutral” rating, falling from “bronze”, meaning Morningstar doesn’t expect the fund to deliver standout returns. For a firm that prides itself on its investment acumen, this isn’t a great signal.
“The removal of Andrew Clifford’s direct involvement in this strategy following a major team restructure in March 2024 sees our conviction in Platinum Asia’s team diminish,” analyst Michael Malseed wrote in a note to clients.“We are also cautious regarding the impact of cost reductions and restructuring across the broader group.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barrenjoey axes sell-side research on Platinum Asset ManagementBarrenjoey fired off a note, signed by insurance and diversified financials duo Andrew Adams and Niva Chandrasekaran, saying it would “cease coverage” on Platinum.
Read more »
ASX 200 LIVE:ASX rises; Platinum sinks over 20pc; Westpac downShares climb at the closing bell; monthly CPI data unchanged; Platinum tumbles after client pulls $1.4 billion; Southern Cross Media chairman retires; Trump Media rallies 16 per cent in first day of trading. Follow updates here.
Read more »
Traveller Letters: Virgin ‘perk’ of platinum, gold status is totally useless“One of the perks of being a Virgin Australia gold or platinum member when flying on several international airlines is supposed to be lounge access.”
Read more »
Lounge Access Frustration for Virgin Australia Gold and Platinum MembersVirgin Australia gold and platinum members are frustrated with the lounge access perk when flying on United Airlines, as the recommended lounge in Melbourne is closed during their flight times.
Read more »
Traveller Letters: Virgin ‘perk’ of platinum, gold status is totally useless“One of the perks of being a Virgin Australia gold or platinum member when flying on several international airlines is supposed to be lounge access.”
Read more »
Former Vanguard Super boss Michael Lovett is Bell Asset Management’s new CEOMichael Lovett has arrived at Ned Bell’s global equity shop Bell Asset Management as its new chief executive.
Read more »