2 Fund Managers On Opposite Ends Of ASX Radar - MFG And PTM

  • Jan 10, 2019 AEDT
  • Team Kalkine
2 Fund Managers On Opposite Ends Of ASX Radar - MFG And PTM

Platinum Asset Management Limited (ASX: PTM)

While peer Magellan was surging up on ASX, Platinum Asset Management got stuck by negative price movement. In today’s trading session, Platinum shares declined 0.638% to last trade at $4.670 on 10 January 2019.

The company encountered these bearish market trends after the announcement of Investment income, and performance fee update for the half-year ended 31 December 2018.

In the announcement dated 8 January 2019, the company stated that the recent falls in equity market reflects the high chances of the company to record an unrealized loss on its seed investments. Moreover, it is also expected to receive a substantially low amount in the way of absolute return related performance fee income for the reporting half-year.

The fund manager Platinum Investment Management Limited further released the monthly update on its Fund Under Management (FUM) figure. As at 31 December 2018, its Fund Under Management reportedly declined to $24,089.60 million from last month’s FUM of $24,189.10 million (as at 30 November 2018).

These dual announcements were released late in the evening on 8 January 2019 following which PTM stock price nosedived 3.491% on 9 January 2019. Furthermore, Platinum’s shares last traded at a Price to Earnings ratio of 14.520 x with a market capitalization of $2.76 billion.

Over the past 12 months, the stock has witnessed a negative performance change of 40.58% including a plunge of 6.37%.

Magellan Financial Group Limited (ASX: MFG)

Since the release of FUM and performance fee update, Magellan Financial Group Limited has been trading on higher ends. Today, 10 January 2019, the stock price edged up by 0.481% to last trade at $27.130.

The company informed that its total FUM including both retail and institutional was $70,782 million as at 31 December 2018. This reflects a downturn from previous month’s FUM of $72,111 as at 30 November 2018.

As per the break-up provided by the company, December’s total FUM of $70,782 million comprises of Global Equities of $52,451 million, Infrastructure Equities of $11,980 million and Australian Equities of $6,351 million. However, its average Fund Under Management for the half year ended 31 December 2018 was $72,073 million.

In December, Magellan had reportedly experienced a net inflow of $41 million, which included net retail inflows of $90 million and net institutional outflows of $49 million. Therefore, Magellan funds announced a distribution of approximately $54 million payable in January.

Magellan also reported a performance fees of approximately $42 million for the six months ended 31 December 2018 and reaffirmed its nature of fluctuation from period to period.

MFG last traded at a PE of 22.130 x with a market capitalization of $4.78 billion. Over the past six, the stock price has gone up by 13.92% including a positive performance trend of 6.26% witnessed over the last month.


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