Kerr Neilson

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Kerr Neilson
Born circa 1950 (age 63–64)
Johannesburg, South Africa
Nationality Australian
South Africa
Occupation Investment manager
Known for Co-founder and Managing Director of Platinum Asset Management
Net worth Increase A$3.35 billion (BRW 2014)[1]
Decrease US$2.10 billion (Forbes 2012)[2]
Spouse(s) Judith Neilson
Children

Paris Neilson

Beau Neilson

Kerr Neilson (born circa 1950, in Johannesburg, South Africa), an Australian investment manager, is the co-founder and managing director of Platinum Asset Management.

Biography[edit]

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] Neilson typically avoids "fashionable stocks", instead investing in "good companies, relatively cheaply, over the long term".[10][dead link] 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.[11]

Personal[edit]

Neilson is married and together with his wife, Judith, they have two children. In 2009, Kerr and Judith Neilson opened the White Rabbit Gallery in Sydney to share with the public their extensive collection of contemporary Chinese art.[12]

Wealth rankings[edit]

Year BRW
Rich 200
Forbes
Australia's 40 Richest
Rank Net worth (AUD) Rank Net worth (USD)
2010[5] 6 Decrease $2.20 billion Increase
2011[13][14] $2.10 billion Increase 8 Decrease $2.40 billion Increase
2012[15][2] 14 Decrease $2.08 billion Decrease 10 Decrease $2.10 billion Decrease
2013[16] 13 Increase $2.43 billion Increase
2014[1] 10 Increase $3.35 billion Increase
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

References[edit]

  1. ^ a b "Rich 200: Kerr Neilson". BRW. 27 June 2014. Retrieved 28 June 2014. 
  2. ^ a b "Australia's 40 Richest: #10 Kerr Neilson". Forbes Asia. 1 February 2012. Retrieved 18 June 2012. 
  3. ^ "Portfolio Talk: Kerr Neilson". Good Returns NZ (New Zealand). 3 October 2002. 
  4. ^ Myer, Rod (28 December 2003). "Taking a punt proves Platinum's mettle". The Age (Australia). 
  5. ^ a b "Australia's 40 Richest: #6 Kerr Neilson". Forbes Asia. 3 March 2010. Retrieved 18 June 2012. 
  6. ^ Blue, Tim; Korporaal, Glenda (26 May 2007). "Understated billionaire walks the talk". The Australian. 
  7. ^ a b Washington, Stuart (23 May 2007). "Meet the $2.9b Man of Platinum". The Sydney Morning Herald. Retrieved 18 June 2012. 
  8. ^ Schmidt, Lucinda (20 July 2009). "Profile Kerr Neilson". The Age (Australian). 
  9. ^ Robinson, Gwen (23 May 2007). "Australia's own 'Buffett' is platinum-plated". Financial Times: alphaville. 
  10. ^ "Kerr Neilson, Australia's newest billionaire, avoids 'fashion' stocks". International Herald Tribune. Bloomberg. 6 June 2007. [dead link]
  11. ^ Evans, Michael (17 August 2012). "Neilson axes bonus after hit at Platinum". The Sydney Morning Herald. Retrieved 1 September 2012. 
  12. ^ "White Rabbit Gallery" (streaming video). ABC Arts Online. Australia: ABC TV. 2 November 2009. Retrieved 18 June 2012. 
  13. ^ "Passport Power". BRW Rich 200 Wealth Index (Australia). 25 May 2011. Retrieved 2 June 2012. 
  14. ^ "Australia's 40 Richest: #8 Kerr Neilson". Forbes Asia. 1 February 2011. Retrieved 18 June 2012. 
  15. ^ "Rich 200: Kerr Neilson". BRW. 24 May 2012. Retrieved 18 June 2012. 
  16. ^ "Rich 200: Kerr Neilson". BRW. 22 May 2013. Retrieved 28 June 2013. 

External links[edit]