Pinnacle Investment Management (PNI) – Forging Ahead
October 31, 2024
Pinnacle Investment Management Group Limited operates as an investment management company in Australia. The company offers third party distribution, and fund infrastructure and support services to its affiliates and various investment managers. It also operates as a corporate trustee and responsible entity for retail and wholesale investment trusts. Pinnacle Investment Management Group Limited was founded in 1895 and is based in Sydney, Australia with additional offices in Brisbane, Australia, Melbourne, Australia, and London, United Kingdom.
PNI’s 1Q25 update was largely in-line with our expectations, with FUM up 16% over the quarter given favourable markets, solid flows and Antipodes’ acquisition of Maple-Brown Abbott. Flow momentum continues to build across the business, with ample upside over the medium term if global markets remain supportive. With a strong outlook and forecast EPS CAGR of 22% over thenext two years, we reiterate a BUY rating.
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