Platinum shuffles management team
Platinum Investment Management has undergone a management reshuffle with Clay Smolinski promoted from portfolio manager to co-chief investment officer.
In an announcement to the Australian Securities Exchange (ASX), the firm said he would work alongside current CIO Andrew Clifford and would take effect from 1 April.
Smolinski joined the firm in 2006 and became the portfolio manager of the $542 million Platinum European fund then the $217 million Platinum Unhedged fund. In July 2018, he was appointed to co-manage the $8.1 billion Platinum International fund, the firm’s flagship fund.
The Platinum International fund returned 2.4% during 2020 versus returns of 6.3% by the Australian Core Strategies global sector, according to FE Analytics.
Performance of Platinum International fund versus global sector during 2020
Clifford and Cameron Robertson were also appointed to co-manage the firm’s Asia ex Japan strategies following the resignation of former manager Joseph Lai at the end of 2020 after 17 years. The $5.4 billion Platinum Asia fund had seen strong returns during 2020, returning 28.3% versus returns of 20% by the Asia ex Japan sector.
Clifford previously managed the strategies from 2003 to 2014 while Robertson had worked as co-manager of the $176 million Platinum International Technology fund since 2017.
Performance of Platinum Asia versus Asia Pacific ex Japan sector during 2020
Meanwhile, Nikola Dvornak would be appointed as a co-manager to the Platinum International fund and the Platinum Capital Ltd listed investment company, alongside Clifford and Smolinski. Having joined in 2006, he was currently manager of the $542 million Platinum European fund.
AUTHOR
Laura Dew
Recommended for you
Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.
Financial advice platform Otivo has made an experienced appointment from the US as its head of product strategy.
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
