Pinnacle Investment Management Group Limited · ASX:PNI
Pinnacle Investment Management — Coolabah Capital Investments — Pinnacle Coolabah Summit 2025
17 slides from Pinnacle Investment Management's conference presentation, July 2025
Slide 1: The Intellectual Edge: Making Every Basis Point Count
The Intellectual Edge: Making Every Basis Point Count Persistent Alpha Generation In All Market Conditions July 2025 | For Wholesale Clients Only | Coolabah Capital Investments (Retail) Pty Ltd ACN 153 555 867 (CCIR), authorised representative of Coolabah Capital Institutional Investments Pty Ltd (C
Slide 2: Important Information
Important Information Investment Disclaimer Past performance does not assure future returns. All investments carry risks, including that the value of investments may var y, future returns may differ from past returns, and that your capital is not guaranteed. This information has been prepared by Coo
Slide 3: Coolabah (CCI) Is One Of the World's Best Alpha Generators In Bonds
Coolabah (CCI) Is One Of the World’s Best Alpha Generators In Bonds Large team incl. One of the most 48 portfolios: Est. 2011: 53 execs in 31 institutional Long Short Credit active global bond 62% owned by London, Miami, Auckland, traders with mandates and 17 Fund: No.1 of 101 team, 38% owned Sydney
Slide 4: The Existential Choice: Add-Value or Add Risk?
The Existential Choice: Add-Value or Add Risk? Actively Trading Long and Short Opportunities Absolute Returns (Alpha) via Finding Mispriced Bonds and Illiquidity Risk (Beta) High Volume Trading Compensating you for inability to trade in/out Illiquid loans, Illiquid corporate bonds, Illiquid ABS/RMBS
Slide 5: CCI Credit Research Focused On Identifying And Approving The Highest Quality Issuers
CCI Credit Research Focused On Identifying And Approving The Highest Quality Issuers • CCI’s high grade liquid focus universe of 305 issuers comprises 55% of outstanding IG debt Global Investment Grade Universe: ~7000 76% Excluding Emerging and Non- Democratic Economies: ~5300 61% Excluding Industri
Slide 6: CCI Alpha In Global Primary Credit Since 2020; ~A$54.6bn Trades
CCI Alpha In Global Primary Credit Since 2020; ~A$54.6bn Trades • 34.2% IRR made up of 30.1% capital gain IRR + 4.1% coupon • 2 day holding period • 91.5% total return win rate Screenshot from CCI’s quant lab – Global primary credit sales ex hybrids from 1 Jan 2021 to 30 June 2025 IRR before duratio
Slide 7: CCI Alpha In Global Secondary Credit Since 2020; ~$31.0bn Trades
CCI Alpha In Global Secondary Credit Since 2020; ~$31.0bn Trades • 7.3% IRR made up of 4.5% capital gain IRR + 2.7% coupon • 50 day holding period • 86.6% total return win rate Screenshot from CCI’s quant lab – Global secondary credit sales ex hybrids from 1 Jan 2021 to 30 June 2025 Capital gains au
Slide 8: CCI Alpha Is Persistent Across Different Market Conditions
CCI Alpha Is Persistent Across Different Market Conditions • CCI has generated alpha even as credit spreads have been moving sideways (“neither”) or widening which is ~63% of the time since CCI’s inception (Feb 2012) Screenshot from CCI’s quant lab – Since inception long sales to 30 June 2025 Capita
Slide 9: Active Composite Bond Complex ETF (CBOE: FIXD): Long Duration Credit Alpha Solution
Active Composite Bond Complex ETF (CBOE: FIXD): Long Duration Credit Alpha Solution Coolabah Active Composite Bond Net Return vs Peers • Coolabah’s market-leading Active Composite Bond Fund Since Inception (Mar 2017) ▪ 12 mth return 8.4% net vs index’s 6.8% ▪ No.1 performer net of fees since incepti
Slide 10: Active Global Bond Fund: Long Duration Credit Alpha Solution
Active Global Bond Fund: Long Duration Credit Alpha Solution • Coolabah Active Global Bond Strategy Active Global Bond Strategy Net Return vs Peers Since UCITS Fund Inception (Oct 2023) ▪ 12 mth return 7.6% net vs index’s 6.5% ▪ Global benchmark (Bloomberg Global Aggregate Corporate Index AUD Hedged
Slide 11: Floating Rate High Yield Fund: IG Alpha Solution With Enhanced Yields
Floating Rate High Yield Fund: IG Alpha Solution With Enhanced Yields Coolabah Floating-Rate High Yield Net Return vs Peers • Coolabah Floating-Rate High Yield Fund: Since Inception (Dec 2022) ▪ 12 mth return 7.0% net vs RBA cash rate’s 4.2% ▪ Running yield of 7.2% p.a. (gross) ▪ Weighted-average cr
Slide 12: Global Floating-Rate High Yield Complex ETF (CBOE: YLDX): Global IG Alpha Solution
Global Floating-Rate High Yield Complex ETF (CBOE: YLDX): Global IG Alpha Solution • Coolabah Global Floating-Rate High Yield Complex ETF: ▪ Running yield of 7.1% p.a. (gross) ▪ Weighted-average credit rating of “A+” ▪ Floating-rate and fixed rate (hedged to floating) bonds ▪ AUD and non-AUD bonds (
Slide 13: Global Floating Rate High Yield Complex ETF (CBOE: YLDX) vs Hybrids
Global Floating Rate High Yield Complex ETF (CBOE: YLDX) vs Hybrids YLDX Major Bank Hybrids Avg Credit Rating A+ BBB Gross Running Yield 7.1% 5.8% Liquidity Daily redemption rights Limited ASX hybrid liquidity Senior/Tier 2/Hybrid Portfolio Weight 240%/90%/0% 0%/0%/100% Market Size $29 trillion $0.0
Slide 14: Active Sovereign Bond Fund: AAA Diversifying Alpha; Near Zero Credit, Equity or Duration Beta
Active Sovereign Bond Fund: AAA Diversifying Alpha; Near Zero Credit, Equity or Duration Beta • Coolabah Active Sovereign Bond Fund outperforms key Coolabah Active Sovereign Bond Fund Net Return vs Peers Since Jan 2024 peers since fund inception ▪ Weighted-average credit rating of “AAA” ▪ AAA-rated
Slide 15: Relative CCI Fund Yields As At 30 June 2025
Relative CCI Fund Yields As At 30 June 2025 Source: Coolabah Cap ital Investments Past performance does not assure future returns. All investments carry risks, including that the value of investments may var y, future returns may differ from past returns, and that your capital is not guaranteed. The
Slide 16: Available CCI ETF Options
Available CCI ETF Options Disclaimer: The yields disp layed are the gross annual running yield befo re fees as o f 30 June 2025. They change daily an d may be different on the day you invest. Past p erformance do es not ass ure future returns. All investments carry ris ks, includ in g that the value
Slide 17: CCI Fund Additions Platform Addition Request Link
CCI Fund Additions Platform Addition Request Link • Scan the QR code to lodge your pledge or request for CCI fund additions to specific platforms • Register your interest and suggestions for new CCI funds https://forms.office.com/r/6iwtMij7k4 Coolabah Capital Investments (Retail) Pty Ltd ACN 153 555
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