Pinnacle Investment Management Reports FY2024 Interim Results Amid Market Challenges

Pinnacle Investment Management Group Limited (ASX: PNI) has unveiled its financial performance for the six months ending December 31, 2023. Here's a concise overview:

Key Financial Highlights:

• Net Profit After Tax (NPAT): Recorded at AU$30.2 million, a slight dip from AU$30.5 million in the Prior Corresponding Period (1H FY23).
• Earnings Per Share (EPS): Basic EPS at 15.4 cents, compared to 15.7 cents in 1H FY23.
• Dividend Stability: Fully franked interim dividend per share maintained at 15.6 cents, consistent with 1H FY23.

Performance Metrics and Affiliates:

• Affiliate Contribution: Pinnacle's share of Affiliates' NPAT rose by 24% to AU$37.3 million, demonstrating a robust performance.
• Outperformance and Growth: 81% of 5-Year Affiliate strategies outperformed benchmarks as of December 2023, with an aggregate FUM of AU$100.1 billion, reflecting a 9% increase.
• Net Inflows: Witnessed net inflows of AU$4.5 billion in 1H FY24, a significant turnaround from net outflows of AU$1.5 billion in 1H FY23.

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