Why Pinnacle’s (ASX:PNI) FUM plummeted in FY22

Follow us on Google News:
 Why Pinnacle’s (ASX:PNI) FUM plummeted in FY22
Image source: Image source: © Allisgood76 | Megapixl.com


  • Pinnacle’s FUM fell for the first time in ten years in FY22.

  • Pinnacle Investment reported a 6% dip in FUM to AU$83.7 billion.

  • Net profit after tax was up 14% at AU$76.4 million.

Pinnacle Investment Management Group Ltd (ASX:PNI) on Wednesday announced a fall in its funds under management (FUM) due to difficult stock market conditions in the second half of the financial year 2022. The investment management company reported a 6% dip in FUM to AU$83.7 billion in its financial results for the financial year ended 30 June 2022, compared to US$89.4 billion in the prior year.

It is for the first time that the Australia-based multi-affiliate investment management firm has reported a decline in its FUM. Over the last ten years, the ASX-listed company had reported a compound annual growth rate in FUM of nearly 24%.

Highlights from Pinnacle’s FY22 results

  • Net profit after tax (NPAT) attributable to shareholders rose 14% to AU$76.4 million from the prior financial year.
  • Basic earnings per share (EPS) attributable to shareholders surged 5% to 40.2 cents from 38.2 cents in FY21.

Meanwhile, the company reported net inflows of AU$0.6 billion in the full year. Pinnacle Investment reported inflows of AU$2.2 billion in the six months ended 30 June 2022.

The company said that retail net inflows have continued to be positive during FY22. But after hitting a record AU$2.9 billion in 1H, the inflows are much lower at AU$0.7 billion in 2HFY22.

Dividend announcement

The board of the ASX-listed financial stock also a declared a fully franked final dividend per share of 17.5 cents.

With this, the total fully franked dividends for FY22 stand at 35 cents, up 22% from the fully franked total dividend of 28.7 cents in the last fiscal.

What did Pinnacle’s management say?

Commenting on the results, Pinnacle’s managing director and founder Ian Macoun said, “Following the record retail inflows in the first half of the 2022 financial year, net inflows for the second half fell below our expectations as we confronted difficult market conditions.”

“We have continued to invest in our distribution capabilities, particularly retail and offshore, to ensure that we are well positioned to continue to grow and broaden our market share,” he added.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK