Platinum interim profit drops 37pc as assets under management shrink

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.