Platinum Asset Management Ltd

PTM: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.00	Czh	Lbngdjlk

Revision of Platinum’s Expected Returns Prompts a Minor Upgrade in FVE; Shares Fairly Valued

Adam Fleck , Shaun Ler

Jan 7, 2021

We marginally increase our fair value estimate on narrow-moat Platinum Asset Management to AUD 3.75 from AUD 3.60 previously, after revising our normalised market return assumptions and incorporating the time value of money. The asset manager’s shares screen as fairly valued at current prices, offering a fiscal 2021 dividend yield of 5.7%.

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