Fri, 16/09/2005 - 07:03
Platinum Capital Management is aiming to achieve consistent capital growth and pay significant annual cash dividends to investors with its new Global Dividend Fund.
Peter Sprecher, Chairman of Platinum Capital Management, said: "The Platinum Global Dividend Fund is designed to produce steady returns in virtually all market conditions."
He added: "The cash dividend means that investors are in effect 'paid to wait', and the strategy has produced handsome capital growth for nearly five years. The Fund responds directly to the requests and ambitions of our investors for safety and current income along with consistent returns."
The fund invests in robust return opportunities in global companies that pay high dividends. Since 2001, the underlying investment manager has achieved exceptional returns (and dividend payments) employing this strategy.
The investment philosophy focuses on the advantages of high dividend paying shares as these outperform low and no dividend shares over time and are defensive and the yields are often greater than Government Bonds. The Fund aims to provide a combination of high dividend income (4-6 per cent per annum) and capital appreciation (7-20 per cent per annum). Over the long-term, dividends have made up a major part of total return in equities. [*Based on an NAV of USD100 per share].
The Platinum Global Dividend fund invests in companies with: sustainable dividend (cash earnings at least 2 x dividend); progressive dividend (5+ per cent per annum cash dividend growth); strong balance sheets (generally net cash position); low risk profile business (no environmental, legal, pension, poor retirement, health issues); and understandable industry (straightforward businesses meeting basic customer needs).
Risk management is an important element of the Fund and is attained through rigorous bottom-up research of individual positions, and careful portfolio construction. Also, due to investment in a variety of industries there is diversification and balance within the portfolio. There is a global mandate that covers 40 countries, with generally 30 to 45 positions with never more than 8 per cent in one position. Additionally the fund only invests in companies with a margin of safety and as a fund aims to be "very disciplined in buying and selling".
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