About our joint venture with Australian Unity Investments (AUI)*.

Platypus Asset Management (Platypus) formed a joint venture with AUI in 2006 which is 50% owned by AUI and 50% by the existing business. The joint venture is responsible for institutional distribution while AUI focuses on expanding distribution of Platypus’ out-performing Australian equities portfolio through financial planners and platforms.

Mr. David Bryant, head of AUI, said that the joint venture is a key step in AUI’s stated strategy of providing specialist products across all asset classes.

“We recognised some time ago that it was necessary for AUI to have a first-class Australian equity product that complemented the specialist micro cap fund that we already offered and had been actively searching for the right partner. “Platypus’ high conviction style, excellent performance track record, and the calibre of the principals, makes it an ideal partner for us, expanding the range of high quality funds that we already offered.

Mr. Donald Williams, CIO of Platypus, says; “The joint venture is an exciting move for us and means we  partner with a strong Australian company dedicated to helping us achieve and manage the business’ planned growth.

“It also means that Platypus can focus on our overriding goal which is to provide investors with consistent out-performance.

“We had found that gaining traction in the retail market is difficult, expensive and time consuming, so accessing AUI’s experience and expertise in this area is a sensible move for us.

“AUI is the ideal partner because of its’ experience and proven track record in establishing joint ventures that allow us to focus on what we do best.”

Mr. Bryant added that, like its’ joint ventures with Acorn Capital and Vianova Asset Management, AUI will be responsible for distribution of Platypus’ funds to retail investors through financial planners and platforms, while Platypus will manage institutional distribution.

“Our joint venture approach means that specialist managers such as Platypus can retain the freedom to manage money, with the assistance of an established organisation to expand its’ marketing and distribution while providing support with its compliance and operational activities.”

Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider Australian Unity. It currently has over $10 billion in funds under management. Its approach to product development is to use its established in-house expertise in property and mortgages while also forming joint ventures and strategic alliances with other organisations with specialist expertise.

* Australian Unity Funds Management Limited. ABN 60071497115, AFSL 234454