(AI video summary)
This video was created on 4 February 2026 for IG audiences by ausbiz.
ASX code: PNI
Dividend maintained despite softer profit
Pinnacle Investment Management reported a 66% increase in revenue for the six months ending December, despite a decline in profit that still surpassed Macquarie’s forecasts. The company maintained its interim dividend of $0.29 per share, and highlighted increased funds under management and the acquisition of all remaining shares of Pacific Asset Management. Macquarie rated Pinnacle as outperform, setting a target price of $25.25 – a significant move from current levels.
Exposure to high-quality fund managers
Pinnacle operates a ‘fund of funds’ style model, investing in specialist fund managers rather than managing funds directly. Its portfolio includes Plato, Antipodes, Hyperion and Metrics, providing diversified exposure across asset classes and investment styles.
Management’s long-term track record remains a positive, with chief executive Ian Macoun widely regarded as having executed well through multiple market cycles while maintaining capital discipline.
Investment outlook
Pinnacle’s earnings outlook remains closely linked to market performance. Supportive equity markets would underpin both management and performance fees, while a downturn would likely place pressure on equity-focused strategies.