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Pinnacle Shares Up 5% as FY26 Profit Jumps 31%
Pinnacle shares rose 5% after FY26 underlying net profit jumped 31%, with affiliate FUM up 13.3% and international FUM up 45.6% to $51.4 billion.
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Pinnacle Investment Management Group Ltd (ASX: PNI) shares rose 5% after the funds manager reported a 31% jump in underlying net profit for the year to 30 June 2026. The result was driven by affiliate funds under management (FUM) growth of 13.3% from 31 December 2025, or 10.9% excluding FUM acquired in the second half through the Advantage Partners transaction.
Retail FUM rose 27.9% over the year to $50.7 billion, while international FUM climbed 45.6% to $51.4 billion, or 36.2% excluding acquired FUM. The company said 81% of its five-year affiliate strategies have outperformed their benchmarks over the five years to 30 June 2026, underpinning performance fee contributions.
The company's statutory net profit differed from the underlying figure due to a one-off accounting gain on the acquisition of Pacific Asset Management (PAM) and net gains or losses on principal investments. Pinnacle moved to 100% ownership of PAM on 24 April 2026.