CM – Why Pinnacle’s share price (ASX: PNI) is in focus right now

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Pinnacle Investment Management Group Ltd (ASX: PNI) share price is in the spotlight after details of performance fees for the 22nd half year.

Pinnacle Investment Management is a company that invests in high quality fund managers and aims to help them operate and grow.

Pinnacle announced that four of its affiliates have set performance fees totaling approximately $ 18 million for the six months ended December 31, 2021 those earnings payable are approximately $ 6.2 million.

Within affiliates there are 18 different strategies with the potential to earn significant performance fees each year n, and 11 of them had the potential to crystallize in the first half of the year. Of the 11 strategies, five have delivered in the half-year.

In the second half, all 18 strategies have the potential to crystallize performance fees, although six are currently below their high-water mark.

Pinnacle also said, that the net return on its main investments for the first half of FY22 will be approximately $ 2 million. This amount is composed of dividends and distributions of $ 1.9 million and positive net investment income of $ 0.1 million (fair value gains / losses on financial assets at fair value through profit or loss). This includes losses from hedging equity market exposures.

Pinnacle announced that it will provide details of funds under management as of December 31, 2021 and net inflows for the half-year ended December 31, 2021 on Thursday, February 3, 2022 , will release.

All performance fees incurred are a bonus for Pinnacle and its shareholders, although recent results may mean that good outperformance is often expected. It can’t necessarily outperform hugely every year.

In its FY21 half-year results, Pinnacle said it earned $ 11 million in performance fees from Pinnacle subsidiaries.

However, the price is up Pinnacle stock has fallen more than 25% in the past two months as of press time. I think Pinnacle has an attractive long-term future so this could prove to be an opportunistic time to look into the investment business if FUM can continue to grow at an attractive pace.

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Similar title :
Why the Pinnacle ( ASX: PNI) share price is currently in focus
Pinnacle Investment (ASX: PNI) booked performance fees of $ 18 million for 1H FY22

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