EXTRACT OF ASX RELEASE AS FOLLOWS:
Pinnacle Investment Management Group Limited (ASX: PNI)
2022 interim financial results Pinnacle Investment Management Group Limited (PNI) is pleased to advise shareholders that the highlights of the financial results for the six months ended 31 December 2021 (1H FY22) are as follows:
Net profit after tax (NPAT) attributable to shareholders of $40.1 million, up 32% from $30.3 million in the Prior Corresponding Period (1H FY21, PCP)
Basic earnings per share (EPS) attributable to shareholders of 21.5 cents, up 23% from 17.5 cents in 1H FY21
Diluted EPS attributable to shareholders of 21.0 cents, up 26% from 16.7 cents in 1H FY21
Fully franked interim dividend per share of 17.5 cents, up 50% from 1H FY21
Pinnacle’s share of Affiliates’ NPAT $39.2million, up 23% from $31.8 million in 1H FY21
Performance fees earned by Pinnacle Affiliates, post-tax, contributed $6.4m of Pinnacle’s NPAT in 1H FY22 ($11.0m in 1H FY21)
Aggregate Affiliates’ funds under management (FUM) of $93.6 billion at 31 December 2021 (at 100%) up $4.2 billion or 5% from $89.4 billion at 30 June 20211 up $23.1 billion or 33% from $70.5 billion at 31 December 2020
Aggregate Retail FUM of $23.8 billion at 31 December 2021 (at 100%): • up 17% from $20.3 billion at 30 June 2021 • up 43% from $16.7 billion at 31 December 2020
Net outflows for 1H FY22 of $1.7 billion (net inflows of $2.2 billion, excluding the $3.9 billion outflow of the Omega ‘passive' mandate on very modest fees during August, which we have previously advised); net retail inflows of $2.9 billion for 1H FY22
Continued Affiliate medium-term outperformance – 77% of 5-Year Affiliate strategies have outperformed as at 31 December 2021
Cash and Principal Investments of $176.4 million at 31 December 2021. $100m debt facility from CBA – fully drawn down and deployed in liquid funds managed by Affiliates
