Platinum Asset Management has reported a 37.4 per cent slide in interim profits to $37.6 million as declining funds under management slashed revenues from base and performance fees.
In an aftermarket update, Platinum said the $37.6 million net profit after tax for the half year ending December 31, 2022 compared to a $60 million profit in the half year to December 31, 2021.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
