Platinum plunges 20pc on $1.4b mandate loss
Shares in Platinum Asset Management have sunk more than 20 per cent after the struggling investment firm revealed it had lost $1.4 billion in mandated funds from an undisclosed client.
In a market announcement released after trading ended on Tuesday, Platinum said the client had indicated it intended to “rebalance its exposure away from benchmark agnostic global equity managers”.
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