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Pinnacle Investment Management Group (SX:PNI) - Managing Director, Ian Macoun - The Market Herald
Managing Director, Ian Macoun
Source: Financial Review
  • Five Pinnacle Investment Management Group’s (PNI) affiliates have earned approximately $25.8 million in performance fees for the year ending June 30
  • The total fees were an aggregate of the five affiliates; Hyperion, Palisade, Coolabah, Metrics, and Firetrail
  • Pinnacle estimates these performance fees will add $6.7 million to the company’s net profit after tax for the financial year
  • The company plans to release its full-year audited financial results on August 4, 2020
  • Pinnacle shares are steady today, trading for $4.03 per share

Five Pinnacle Investment Management Group’s (PNI) affiliates have earned approximately $25.8 million in performance fees for the year ending June 30.

The total fees were an aggregate of earnings from five affiliates; Hyperion, Palisade, Coolabah, Metrics, and Firetrail.

Coolabah was only a Pinnacle affiliate for part of the year, but was included nonetheless.

Pinnacle estimates that these performance fees will positively impact the company’s net profit after tax (NPAT) for the 2020 financial year. The impact could be an addition of as much as $6.7 million.

Principal investments

The company has also reported on its expectations for returns on principal investments for the 2020 financial year. Pinnacle expects the net return on principal investments for the period to make a loss of approximately $500,000.

The net returns are the sum of two Pinnacle profit and loss statements items; ‘distributions and dividends’, and ‘fair value losses on financial assets at fair value through profit or loss.’

Approximately $800,000 in distributions and dividends were received for the full year. Fair value losses on financial assets at fair value through profit or loss accounted for approximately $1.3 million for the year.

In the first half of the financial year, the items produced a positive $400,000, but a negative $900,000 in the second half.

At this time, these numbers only represent preliminary estimates, and are still subject to audit. The company plans to release its full-year audited financial results on August 4, 2020.

Pinnacle shares are steady today, trading for $4.03 per share at 10:25 am AEST.


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