Monthly Update
Fact Sheet
Offer Document
Financial Statements
Distribution – Tax Components

Investment objective
To provide capital growth over the long-term by investing in companies around the world with well-recognised consumer brand names (including producers of luxury goods, other consumer durables, as well as food, beverages, household and personal care products, retailers, and financial services).

Successful brand management allows a company to earn superior profits from what otherwise might be a commodity. This process entails the creation of an emotional bond between the consumer and the product/product provider which allows the latter to charge a premium price. As such, successful brand owners have a tendency to achieve superior growth and profitability (than purveyors of commodities).

The concept behind the Fund is that the process of globalisation, which involves the removal of impediments to ownership, international trade and promotion, will see the emergence of “mega-brands”. Companies with these strong positions are likely to be able to augment the growth in their relatively mature but stable home markets by tapping faster growth in emerging markets, which are experiencing rising living standards. Alternatively, powerful regional brands can expect to enjoy strong growth and profitability and may even be taken over by global operators on account of the regional brand's local dominance.

Where is the Fund’s money invested?
The Fund primarily invests in listed securities of companies with well-recognised consumer brands. 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:

	are an Investor who is seeking a portfolio of companies with relatively stable earnings and that are perceived by the market to be defensive
	believe in the long term wealth creation potential of share investments
	wish to achieve investment diversification by accessing share market opportunities in consumer brands companies
	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.