Two Platinum Funds Approved For Distribution In Singapore

Platinum Capital Management announced today that the Platinum Washington and Platinum Capital Protected Income Plus, Class A funds have been approved by the Monetary Authority of Singapore (MAS) for investment by sophisticated investors in Singapore. These funds are among the

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Platinum Capital Management announced today that the Platinum Washington and Platinum Capital Protected Income Plus, Class A funds have been approved by the Monetary Authority of Singapore (MAS) for investment by sophisticated investors in Singapore.

These funds are among the first international hedge funds to garner MAS authorisation, following the publication of the new guidelines on 5 December 2002.

Platinum Washington and Class A will be distributed by major Singaporean and foreign banks, a number of IFAs and at least two of the largest Singaporean stockbrokers.

Craig Reeves, Managing Director, Platinum Capital Management said, “Arranging representation of Platinum and distribution of Platinum Funds in Singapore (and other parts of the Far East) is one of our core objectives. For two of our funds to be among the first international hedge funds to be approved by the MAS is a great honour and a testament to the quality of our fund construction process.”

“Asia is rapidly growing in importance for the distribution of alternative investment products to both the institutional and retail sectors,” Reeves added. “Platinum has already an affiliate office in Hong Kong, and we are considering opening further affiliated offices in the region shortly.”

Platinum Washington is a single manager US equity long/short fund which achieved one of 2002’s strongest performances with gains of over 30%.

The objective of the Platinum Class A fund is to achieve capital appreciation through investment with multiple managers focused on equity long/short investment. The Cayman registered fund is designed to allow the redemption of up to 8% of the original investment every year of the 10-year product life, after the first year.

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