Australia's Platinum Asset Management hits record low on falling FUM

L1

08/02/2024 03:22

** Shares of Platinum Asset Management  PTM.AX  fall as much
as 10.5% to a record low of A$1.025
    ** Shares on track for their worst day since Feb 23, if
losses hold
    ** Co posts funds under management (FUM) of A$15,190 mln
($9.91 bln), as at Jan. 31, compared with A$15,447 mln as Dec
31, 2023
    ** Posts net outflows of about A$166 mln in Jan 2024 
    ** Stock has fallen 13.9% this year, as of last close

    ($1 = 1.5321 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))