Pinnacle Investment Management Group (PNI) H2 2026 earnings summary

Executive summary

• Achieved strong underlying profit growth, record net inflows, and robust investment performance in FY 2026, with a continued evolution into a global, scalable platform.

• NPAT increased 31% year-over-year (21% adjusted), EPS up 25% (15% adjusted), and aggregate FUM rose 28% to AUD 229.4 billion.

• Significant international expansion, including full acquisition of Pacific Asset Management (PAM) and investment in Japan's Advantage Partners.

• 81% of affiliate strategies with a five-year track record outperformed benchmarks, reflecting strong investment excellence.

• Growth agenda focuses on expanding affiliate presence, product suite, and global distribution, with a strong outlook for FY 2027.

Financial highlights

• NPAT was AUD 176.7 million, up 31% year-over-year; adjusted NPAT up 21% after excluding non-recurring items.

• EPS reached AUD 0.781, up 25% (15% adjusted); final dividend AUD 0.31 per share, total AUD 0.60, payout ratio 77%.

• Aggregate affiliate FUM at 30 June 2026 was AUD 229.4 billion, up AUD 50 billion or 28% from prior year.

• Net inflows totaled AUD 33.4 billion, with strong contributions from domestic retail, international, and institutional clients.

• Base fee revenues up 35% to AUD 1.058 billion; performance fees down 5% to AUD 146.6 million.

Outlook and guidance

• Confident in sustaining high EPS growth rates due to a diversified, scalable, and cash-generative business model.

• Key drivers for FY 2027 include full-year PAM ownership, higher closing FUM, improved affiliate margins, and annualized revenue uplift.

• Growth agenda targets further international expansion, new product launches, and leveraging technology for efficiency.