Kerr Neilson Success Story
Born in South Africa and grown in Australia, Kerr Nielson is one of the most successful investment managers, best known for being the managing director and co-founder of the Platinum Asset Management. Forbes stated Kerr as the 9th richest individual in Australia, and among the 500 richest people across the globe with a net worth of around US $ 3 billion.
After his birth in South Africa in 1950, Neilsons moved to the Australian continent in 1973. Here, he founded Platinum Asset Management along with his partner George Soros in 1994. Since then, he has been serving as the company’s managing director, executive director and chief investment officer. Kerr Nielson also acts as the managing director for Palmer Tube Mills, and also as the chief investment officer for Platinum Master Portfolio and Platinum Japan Fund. With all these activities and involvements, he is undoubtedly one of the richest men in Australia.
Foundation of Platinum Asset Management
His firm, Platinum Asset Management is dedicated to managing international equities in the industry. The company has approximately $16 billion of funds in management. Kerr floated some percentage of his company’s shares in the Australian Stock Exchange. Remaining shares valued for $2.9 billion, which made Kerr as one of the riches people in Australia. Being the major shareholder for the company, Nielson earned dividend of A$42 million during the fiscal year of 2012.
Before founding Platinum Asset Management, Nielson served as the executive vice president of Bankers Trust Australia Ltd., and also worked as a fund manager and investment analyst in South Africa and UK. He has also been managing the Platinum International Fund for the past 11 years, with which he earns returns of more than 14% every year against MSCI Index returns of 8.1% annually.
Nielson’s Love for Art
Apart from being an expert in financial performance and investments, Kerr Nielson has an avid collection of artworks too. Along with his wife Judith Nielson, he has opened the White Rabbit Art Gallery in Sydney, which showcases a wide collection of post-2000 Chinese modern art. Judith is a little biased towards Asia, and this is clearly indicative in their art collection. According to Nielson, it is not just an art gallery, but a museum in a manner too.
Kerr Nielson is frequently compared with Warren Buffett, as he chooses high performing stocks consistently. He is described as the master of right timing, particularly during down market conditions. He is seen shunning away from over-hyped stocks, and investing cheaply in good businesses over the long run. Witnessing the ever-changing market trends, he says "If you only look at the market’s surface, it may appear flat, but there’s always huge turbulence taking place within."