Platinum shuffles management team

Platinum/Andrew-Clifford/Joseph-Lai/Nikola-Dvornak/

10 February 2021
| By Laura Dew |
image
image image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 2 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

4 days 2 hours ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

2 weeks 5 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

4 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5