Anonymous ID: 0fca3a July 31, 2018, 10:50 a.m. No.2372894   🗄️.is 🔗kun

Has anyone heard of Kerr Neilson?

 

Neilson started his financial management career in the investments department of Courtaulds in London.[3] After returning to South Africa in 1973, he moved to Australia ten years later as the head of retail funds management for Bankers Trust Australia (now BT Australia). Neilson established the Platinum Asset Management fund in 1994 with initial backing from George Soros.[4] Platinum specialises in international equities and has an estimated $US16 billion in funds under management.[5] Neilson is its managing director and portfolio manager.[6] In May 2007, Neilson floated 20 percent of Platinum Asset Management on the Australian Stock Exchange. The 57 percent of the company's shares he retained were valued at A$2.9 billion, making him one of Australia's richest people.[7]

 

Neilson is regularly likened to Warren Buffett for his ability to consistently select high-performing stocks.[8][7][9] However, poor results during the 2012 financial year resulted in a 16 per cent fall in net profit, mainly due to a 14 per cent reduction in investment income. As a result, Neilsen agreed to forego a performance bonus, an increase in his base salary, and neither granted himself nor exercised options. As the principal shareholder of Platinum, Neilsen yielded A$42 million in dividends during the 2012 financial year.[10]