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.

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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.

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that's a lot of movement and no doubt performance has been effected for some time

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