Platinum Asset Management

What are your thoughts on platinum asset management?

A: Platinum Asset Management (PTM) has struggled over the last couple of years due to investment performance, and as a result, funds outflow.

The last few months have been a little better.

As a result, it is now trading on lower multiples than either Magellan (MFG) or BT Investment Management (BTT). That said, the major brokers are still a little negative on the stock. According to FN Arena, sentiment is negative at -0.5 (range of -1.0 is most negative to +1.0 is most positive), with a consensus target price of $5.01 (last traded price is $5.14).

I guess am not a seller at these levels – but whether I would buy just yet, not sure.


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