Highlights

  • Pinnacle reported a 34% YoY increase in revenue to AUD 65.5 million and a 60% YoY rise in net profit before tax to AUD 144.5 million for FY25.
  • Total affiliate funds under management reached AUD 197.4 billion as of September 2025.
  • The company raised its FY25 total dividend by 43% to 60.0 cents per share, with a final dividend of 27.0 cents paid in September 2025.

Pinnacle Investment Management Group Limited (ASX:PNI) is an Australian company operating as a multi-affiliate investment management business. Beyond holding equity stakes in its affiliates, the company provides seed funding and supports global institutional and retail distribution. The company also offers a wide range of business support services, which include industrial-grade middle office and infrastructure solutions.

Financial Performance for Fiscal Year 2025

For the fiscal year ending 30 June 2025 (FY25), the company reported a revenue of AUD 65.5 million, reflecting a 34% YoY increase from AUD 49.0 million recorded in the previous fiscal year. The company’s net profit before tax rose by 60% YoY, reaching AUD 144.5 million in FY25 compared to AUD 90.4 million in FY24. Meanwhile, share of PNI affiliates’ net profit after tax (NPAT) increased by 43% YoY, totalling AUD 129.7 million, up from AUD 90.8 million a year earlier.

This growth in revenue and earnings was largely driven by a 39% YoY rise in affiliate revenues alongside increased performance fees from 12 affiliates, which amounted to AUD 46.6 million. Furthermore, record net inflows of AUD 23.1 billion, together with a diversified portfolio across retail, international, and alternative asset classes, supported these results. Notable contributors to performance included the Hyperion and Life Cycle affiliates.

Dividend Information

For FY25, the company announced a total dividend of 60.0 cents per share, which was 79% franked. This dividend represented a 43% increase compared to the previous year and was equivalent to 96% of diluted earnings per share. The final dividend of 27.0 cents per share, 88% franked, was paid to shareholders registered as of 2 September 2025.

Recent Corporate Developments

On 2 December 2025, the company announced a buy-back and cancellation of 250,000 ordinary shares under its Omnibus Incentive Plan. These shares, previously held by a former employee no longer entitled to them, are scheduled for cancellation on 18 December 2025.

As of 30 September 2025, the company’s total affiliate funds under management (FUM) reached AUD 197.4 billion, representing a 10% increase since June 2025. This growth was driven by the retail and international segments. Across all channels, net inflows for the quarter reached AUD 13.3 billion. 

Company Outlook

The company anticipates continued net inflows across retail, institutional, and international channels and plans to leverage its global platform and high-quality affiliates to drive growth in existing strategies, as well as through high-return initiatives.

Future growth is also expected through targeted acquisitions, such as Advantage Partners, which aim to increase exposure to international private markets. These acquisitions are intended to support long-term diversification and provide scalable performance fee opportunities.

Share Performance of PNI

PNI shares ended at AUD 16.590 per share, rising 0.85% intraday on 11 December 2025. The stock has experienced a decline of 27.96% over the past year. It has also fallen over most shorter periods, including a 0.30% drop in the last week, 7.37% in one month, and 19.58% in six months.

The 52-week high stands at AUD 27.110, recorded on 5 February 2025, while the 52-week low is AUD 13.590, reached on 7 April 2025.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 11 December 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.