Platinum Asset Management Limited is an asset management company that has been publicly traded on the Australian Securities Exchange (ASX) since 2007[4] and is a constituent member of the S&P/ASX 300 index.
It has two ASX-listed investment companies, Platinum Capital Limited (ASX:PMC) and Platinum Asia Investments Limited (ASX:PAI). In addition, it has three listed funds, Platinum International Fund (ASX:PIXX), Platinum Asia Fund (ASX:PAXX) and Platinum Global Transition Fund (ASX: PGTX).[5]
In 1994, Platinum Asset Management was founded by Kerr Neilson and several others with the financial backing of George Soros.[7] It was founded as a specialist company in international equities.
The success of the firm was attributed to the ability to transcend short-term market investment and focus on long-term returns; its strongest performance came between 2000 and 2002.[8] In 2007, Platinum went public and was listed on the Australian Securities Exchange under the ticker: 'PTM'.[4]
Poor results during the 2012 financial year resulted in a 16 per cent fall in net profit, mainly due to a 14 per cent reduction in investment income. As a result, Neilsen agreed to forego a performance bonus, an increase in his base salary, and neither granted himself nor exercised options.[9]
In 2018, Neilson stepped down as chief executive officer and was replaced by Andrew Clifford who was another co-founder of the company.[8][10] In November 2022, Neilson resigned from his position at the company's board of directors although he still remained the company's largest shareholder.[11]
In February 2023, Neilson called for Clifford to resign citing the firm's poor performance and how Clifford shouldn't hold the role of both CEO and CIO simultaneously.[12] In August that year, the board of directors announced that Clifford would step down from his role as CEO once a successor was found although he would remain as CIO.[13]
On 8 September 2023, shares of Platinum Asset Management hit a record low of A$1.335 after more than A$900million was pulled from its funds in August. According to a report by Barrenjoey Capital Partners, the company was in "severe organic decay".[14]
On October 1, 2025, it was announced that First Maven Pty Ltd. had acquired the company through a reverse merger transaction.[15]
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A$252.67 million (FY 2022)
