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Fact Sheet
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Distribution – Tax Components

Investment objective
To provide capital growth over the long-term through searching out undervalued listed (and unlisted) investments in the European region.

Where is the Fund’s money invested?
The Fund primarily invests in European companies’ listed securities. European companies may list their securities on exchanges other than those in Europe and the Fund may invest in those securities. The Fund may invest in companies not listed in Europe but where their predominant business is conducted in Europe.

Platinum defines “Europe” as all countries from the UK to the Ural Mountains, a line which runs from the Arctic to the Caspian Sea and then to the Black Sea, and including the Russian Federation, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan, Azerbaijan, Armenia and Georgia.

The Portfolio will ideally consist of 50 to 100 securities that Platinum believes to be undervalued by the market. Cash may be held when undervalued securities cannot be found. Platinum may short sell securities that it considers overvalued. Refer further to ‘The Funds’ Investments’ in the PDS. The Portfolio will typically have 50% or more net equity exposure. The Portfolio is constructed in accordance with ‘Platinum’s Investment Methodology’ - refer to the PDS.

This Fund may be suited to you if you:

	believe in the long -term wealth creation potential of share investments
	wish to achieve investment diversification by accessing European share market opportunities
	accept that returns over the shorter term may fluctuate and that returns may even be negative

Minimum suggested time horizon
Five or more years

Income distribution
Annually as at 30 June.