February 21, 2019 / 5:41 AM / 4 months ago

Australia's Platinum Asset Management HY profit dives, trims dividend

Feb 21 (Reuters) - Australian fund manager Platinum Asset Management Ltd reported on Thursday a 27 percent plunge in its half-year interim net profit and trimmed dividend as a global equity rout in late-2018 prompted a loss on its seed investments.

Net profit came in at A$74.9 million ($53.28 million) for the six months ended Dec. 31, compared with A$102.2 million a year ago.

The company declared an interim dividend of 13 cents per share, down from 16 cents last year.

$1 = 1.4059 Australian dollars Reporting by Ambar Warrick and Shriya Ramakrishnan in Bengaluru, Editing by Sherry Jacob-Phillips

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