Platinum shares dip on outflows in December
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The news: Shares in Platinum Asset Management lowered on the ASX as the fund manager reported net outflows in December.
The numbers: Platinum shares were down 1.4% to 70 cents by 1:40pm AEDT.
The company posted net outflows of $289 million in December, including net outflows from the Platinum Trust Funds of around $247 million.
However, funds under management grew month over month from $10.96 billion to $11.05 billion.
The context: Platinum's share price has steadily risen from a low of 62 cents in early December, after a hefty sell-off in the stock following the termination of discussions over a proposed buyout by investment rival Regal Partners.
The source: ASX announcement
