Platinum Asia Fund PM departs

Platinum Asia Investments' lead portfolio manager, Joseph Lai, has tendered his resignation from the organisation.

Lai has been with Platinum Investment Management 17 years, beginning as an analyst focusing on Asian stock picks. He became a fund manager in 2007 focusing on stock selection and portfolio management for the Asian fund and providing macroeconomic input for other Platinum funds.

Before joining Platinum, Lai spent two years as an associate analyst at Morgan Stanley in healthcare and properties.

Platinum shared the news of his departure on the ASX, saying that an internal replacement will be named soon. In the interim, the organisation's chief investment manager and co-manager of Platinum's global strategies, Andrew Clifford, will take over the portfolio. Clifford previously managed Platinum's Asian strategies from its inception in 2003 through 2014.

A spokesperson for Platinum thanked Lai for his contributions to the company.