Australia's Platinum Asset Management extends decline on monthly FUM drop

L1

07/05/2025 05:30

** Platinum Asset Management PTM.AX extends Tuesday's losses, sliding as much as 10.4% to A$0.560; its biggest intraday pct loss since February 26

** Stock hits lowest since April 29

** Asset manager's funds under management (FUM) drops to A$9,647 mln ($6.26 bln) as of April 30 vs year-ago A$13,747 mln

** On Tuesday, PTM fell 6.7% to A$0.625, snapping a three-session winning streak

** Stock last down 5.6%, takes YTD losses to 14.5%

($1 = A$1.5413)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))