Exit of Platinum's portfolio lynchpin forces review of PAXX Emma Rapaport | 04 Feb 2021Text size
Morningstar analysts have placed the silver-rated Platinum Asia ETF "under review" following the resignation of lead portfolio manager Joseph Lai. Lead analyst Ksenia Zaychuk said Lai was an investor they "held in high regard" and described his departure as "disappointing". He had headed the strategy since late 2014. "While Platinum retains a deep pool of investment talent across the broader team, given the uncertainty around Lai’s replacement, we have placed the Platinum Asia and Platinum Asia ETF (PAXX) strategies Under Review," Zaychuk says. Platinum chief investment officer Andrew Clifford and colleague Cameron Robertson will co-manage the Platinum Asia strategy from 1 April 2020. In the interim, Clifford will act as portfolio manager. Robertson was appointed as co-manager of Platinum International Technology in early 2017 and was previously the sector lead of the technology/communications team.