Pinnacle Investment Management Group Limited · ASX:PNI
Pinnacle Investment Management — Macquarie Australia Conference 2025
39 slides from Pinnacle Investment Management's conference presentation, May 6, 2025
Slide 1: Macquarie Australia Conference Presentation (ASX cover letter)
6 May 2025 By Electronic Lodgement Market Announcements Office ASX Ltd 20 Bridge Street SYDNEY NSW 2000 Dear Sir / Madam Macquarie Australia Conference Presentation For personal use only Pinnacle Investment Management Group Limited (ASX: PNI) is pleased to attach a copy of a presentation that will b
Slide 2: Macquarie Australia Conference
For personal use only P INNAC LE INVE STM ENT MA NA GE MENT GRO U P LIM ITED (P NI) Macquarie Australia Conference Ian Macoun – CEO/Managing Director Andrew Chambers – Executive Director, Head of Institutional & International Distribution Dan Longan – CFO 7 t h Ma y, 2 0 25
Slide 3: Agenda
Agenda 2 For personal use only 01 Latest Update 3 02 1H FY25 Results Review 10 03 Building a global, diversified business 15 04 Vision for and drivers of growth 20 05 Conclusion 24 Please refer to the Disclaimer on slide 37 for important information that is to be read in conjunction with this presen
Slide 4: Latest Update
For personal use only 01 Latest Update
Slide 5: Track record of earnings growth throughout market cycles
Track record of earnings growth throughout market cycles 4 The strength and diversity of our platform generates material earnings growth for our shareholders through cycles and over th e long-term For personal use only NPAT growth: 2016 – 2024 Diluted EPS growth: 2016 - 2024 CAGR (five years to 31 D
Slide 6: Update – FUM and flows
Update – FUM and flows 5 • Aggregate Affiliate FUM (at 100%) at 31 March 2025 of $159.9 billion For personal use only • up $4.5 billion or 2.9% from $155.4 billion at 31 December 2024 • up $49.8 billion or 45.2% from $110.1 billion at 30 June 2024 (up $21.8 billion or 19.8%, excluding FUM acquired i
Slide 7: Update – markets and performance
Update – markets and performance 6 • 88% of Pinnacle Affiliates’ strategies and products (with a track record exceeding 5 years) have out-performed their For personal use only benchmarks over the 5 years to 31 March 2025 • As at 31 March 2025, of the $44.7bn funds under management on which there is
Slide 8: Update – new initiatives
Update – new initiatives 7 • New Horizon 2 & 3 initiatives are progressing well For personal use only • VSS • In market with their structured capital Fund V • Working with Pinnacle on an evergreen fund for the Australian wholesale market • PAM • Continued fundraising momentum across single manager a
Slide 9: Institutional & International: Market Update
Institutional & International: Market Update 8 Diverse platform and strong pipeline to drive growth For personal use only Institutional (Australia): FYTD International: FYTD • $4.8bn net inflows • $2.2bn net inflows • Notable inflows into core global and Australian equities, public credit and • ~$47
Slide 10: Wholesale & Retail: Market Update
Wholesale & Retail: Market Update 9 A s o f 31 M a r c h 20 25 • $5.9bn net inflows into Wholesale and Retail FYT D to 31 March 2025 For personal use only • $3.7bn in ne t inflows in 1H FY25 W hole sa le a nd R e ta i l flo ws (N e t ) • $2.2bn in ne t inflows in Q3 FY25 • Wholesale and Retail net i
Slide 11: 1H FY25 Results Review
For personal use only 02 1H FY25 Results Review
Slide 12: 1H FY25 Themes (as reported in half-year results presentation)
1H FY25 Themes (as reported in half-year results presentation) 11 Continuing strong growth in revenues, earnings and FUM; tailwinds evident heading into 2H and FY26 For personal use only 1. Strong growth in core earnings and FUM, with solid flows, delivered from growing Pinnacle platform 2. Strong p
Slide 13: 1H FY25 Themes
1H FY25 Themes 12 Continuing strong growth in revenues, earnings and FUM; tailwinds evident heading into 2H and FY26 For personal use only 1. Strong growth in core earnings and FUM, with solid flows, delivered from growing Pinnacle platform • Pinnacle NPAT, before the impact of performance fees and
Slide 14: 1H FY25 Themes
1H FY25 Themes 13 Continuing strong growth in revenues, earnings and FUM; tailwinds evident heading into 2H and FY26 For personal use only 4. Growing evidence that the ‘Pinnacle model’ can be exported to larger addressable international markets • Pinnacle ‘flywheel’ is gathering momentum in larger i
Slide 15: 1H FY25 financial highlights
1H FY25 financial highlights 14 Diversified platform providing resilience in volatile market conditions. Investments made to support earnings growth in the future For personal use only A ff i l i at e F U M / Re ve nu e ( 100% ) C as h / In v es tm en t s Affiliate FUM (100%) 31 D ec 24 30 Jun24 Cha
Slide 16: Building a global, diversified business
For personal use only 03 Building a global, diversified business
Slide 17: Building a diversified, resilient platform
Building a diversified, resilient platform 16 Pinnacle is now a fully diversified multi-asset platform with global distribution capability For personal use only By distribution channel: By affiliate: 30 Jun 16 – $19.8bn 31 Dec 24 - $155.4bn 30 Jun 16 31 Dec 24 Aikya Antipodes Coolabah Firetrail 0.5
Slide 18: Pinnacle Global Presence
Pinnacle Global Presence Total FUM Number of countries (domicile of investor): Number of managers with international FUM: Number of people in distribution & marketing: For personal use only A$159.9bn (A$47.3bn ex Australia) 50+ 16 61 Fun ds Unde r Man agement ($A) bas ed on in ve sto r do micile 0 -
Slide 19: Multi-channel, international distribution powerhouse
Multi-channel, international distribution powerhouse 18 For personal use only Head of Wholesale & Retail Distribution Head of Listed Head of Institutional & International Distribution Kyle Macintyre (1) Chris Meyer (1) Andrew Chambers (1) NSW (4) QLD (3) VIC / TAS (4) WA (2) SA (1) ETFs/LITs (2) APA
Slide 20: A unique, global platform
A unique, global platform 19 Pinnacle has a unique model which combines equity returns, fees for service and value creation by adding scale to its affiliates For personal use only Financial Conglomerate Standalone Boutique Traditional Multi-Boutique GP Staking Firm Grow equity value of start-up or g
Slide 21: Vision for and drivers of growth
For personal use only 04 Vision for and drivers of growth
Slide 22: Vision for and drivers of growth
Vision for and drivers of growth 21 • Three Horizons growth strategy has driven consistent growth over the long-term, increasing the diversity in the platform For personal use only • Pinnacle is now a scaled, global platform, attracting high-quality managers internationally and across asset classes
Slide 23: Three Horizons of growth
Three Horizons of growth 22 Prepared for, and seeking, further expansion opportunities – committed to taking advantage of the significant opportunity to evolve into a global multi-affiliate by ‘exporting our model’ – but maintaining discipline on quality and valuation For personal use only • Continu
Slide 24: Future growth drivers
Future growth drivers 23 An excellent platform in place to move ahead with sustained growth For personal use only Distribution Robust, Flexible Start-Up Affiliate Existing Affiliate Acquisitive Platform Expansion Operating Platform Enablement Expansion Growth • Investment in (and • Robust, flexible
Slide 25: Conclusion
For personal use only 05 Conclusion Ian Macoun, Managing Director
Slide 26: Pinnacle differentiation
Pinnacle differentiation 25 Australia’s leading ‘multi-affiliate’ investment firm For personal use only 1. Distinguished from competitors 2. High quality, experienced, 3. All the advantages, benefits and by comprising the highest dedicated, passionate superior conditions of a quality investment mana
Slide 27: Summary
Summary 26 Pinnacle’s diverse Affiliate stable and extensive distribution channels foster resilience and growth For personal use only Fundamentals in • Highly re garded Affiliate s with stro ng local and international inve stment consulta nt and re sea rch ho use ra tings Diverse stable of Affiliate
Slide 28: Additional Information
For personal use only Additional Information
Slide 29: Pinnacle has a diversified Affiliate platform
Pinnacle has a diversified Affiliate platform 28 Track record of investing to deliver medium-term growth For personal use only Exe cutives of both Pinnacle and Pinnacle Affiliates have significant equity interests Equity ownership enha nces alig nment w ith sha reho lde rs Seed FUM and Middle office
Slide 30: Continuing strong investment performance of Affiliates to 31 March 2025
29 Incepti on Incepti on 5Y ( p.a .) 10Y ( p.a .) ( p.a .) da te Continuing strong investment Pinnacle Investment Management Hype r io n Asse t Man age m e n t - Gr o ss Pe r fo r m an c e For personal use only performance of Affiliates to Hyperion Australian Growth Companies Fund 12.52% 9.87% 12.00
Slide 31: Continuing strong investment performance of Affiliates to 31 March 2025
30 Inception Inception 5Y (p.a.) 10Y (p.a.) (p.a.) date Continuing strong investment Pinnacle Investment Management For personal use only performance of Affiliates to Palisade Investment Partners - Gross Performance Palisade Diversified Infrastructure Fund 11.10% 11.50% 7.60% 15/12/2004 31 March 202
Slide 32: Continuing strong investment performance of Affiliates to 31 March 2025
31 Incepti on Incepti on 5Y (p.a.) 10Y (p.a.) (p.a.) date Continuing strong investment Pinnacle Investment Management Riparian Water Fund 5.40% - 5.40% 01/12/2019 For personal use only performance of Affiliates to Outperformance -1.60% - -1.60% Metrics Credit Partners - Gross Performance 31 March 20
Slide 33: Performance of Affiliates to 31 March 2025
32 Inception Inception 1Y 3Y (p.a.) 5Y (p.a.) 10Y (p.a.) (p.a.) date Performance of Affiliates to Pinnacle Investment Management For personal use only 31 March 2025 Hyperion Asset Management - Gross Performance Hyperion Australian Growth Companies Fund 0.16% 5.51% 12.52% 9.87% 12.00% 01/10/2002 Outp
Slide 34: Performance of Affiliates to 31 March 2025
33 Incepti on Incepti on 1Y 3Y ( p.a.) 5Y ( p.a.) 10Y ( p.a.) ( p.a.) date Performance of Affiliates to Pinnacle Investment Management Re solu t ion Capit al - Gr oss Pe r for m an c e For personal use only 31 March 2025 Resolution Capital Real Assets Fund 0.62% 6.14% 15.15% 9.70% 9.17% 30/09/2008 O
Slide 35: Performance of Affiliates to 31 March 2025
34 Incepti on Incepti on 1Y 3Y ( p.a.) 5Y ( p.a.) 10Y ( p.a.) ( p.a.) date Performance of Affiliates to Pinnacle Investment Management Fir e tr ail In ve stme n ts - Gr oss Pe r for man c e For personal use only 31 March 2025 Firetrail Australian High Conviction Fund 4.94% 3.47% 14.37% - 6.49% 14/03
Slide 36: Performance of Affiliates to 31 March 2025
35 Inception Inception 1Y 3Y (p.a.) 5Y (p.a.) 10Y (p.a.) (p.a.) date Performance of Affiliates to Pinnacle Investment Management Coolabah Capital Investments - Gross Performance For personal use only 31 March 2025 Smarter Money (Active Cash) Fund Assisted 6.48% 5.34% 4.23% 3.66% 4.30% 20/02/2012 Out
Slide 37: Continued industry awards
Continued industry awards 36 For personal use only 2025 Morningstar Awards 2024 Momentum Media 2024 Money Management for Investing Excellence in 2024 Zenith Fund Awards: Australian Wealth Annual Fund Manager of Australia: Management Awards: the Year Awards, partnering with Lonsec: • Hyperion – Overa
Slide 38: Pinnacle Investment Management Group Limited (PNI)
Pinnacle Investment Management Group Limited (PNI) 37 For personal use only This presenta tio n has been prepared by Pinnacle Investment Mana gement Group Limited ABN 22 10 0 3 25 184 (P NI). The informa tio n in this presentation is current a s at 4 February 2025. PNI has prepared this pre sentatio
Slide 39: For personal use only
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