PNI - Pinnacle Investment Management Group

[System]

On July 7th, 2015, Wilson HTM Investment Group Ltd changed its name to Wilson Group Limited.

 

[System]

On August 30th, 2016, Wilson Group Limited (WIG) changed its name and ASX code to Pinnacle Investment Management Group Limited (PNI).

 

[greggles]

Pinnacle Investment Management Group gapping up today out of the consolidation zone it has been trading in for the last two and a half months.

It's been a solid nine months for PNI with its share price almost doubling from $3.25 at the end of October 2017 to $6.25 today.

They just completed an institutional placement which raised approximately $60 million through the issue of 10.9 million new shares at $5.50. The placement was undertaken to fund the acquisition of a 35% stake in Metrics Credit Partners and a 40% stake in Omega Global Investors, as well as to provide additional funding for future growth initiatives.

 

[frugal.rock]

I thought I saw an opportunity on this one around 2pm today.
Paper traded long, in at 4.66, a tad early perhaps.
Support disappeared soon after, but has come back on the 4.65 level.
Will be interesting for me, testing new found knowledge on a stock I have never looked at. Cheers.
F.Rock

 

[Trav.]

@frugal.rock what are you looking for ie. entry rules BO / trend / cross over etc in TA of FA?

If TA are you scanning automatically or just looking at charts.

The chart doesn't jump out me hence why I am trying to understand your entry.

Cheers

 

[frugal.rock]

@frugal.rock what are you looking for ie. entry rules BO / trend / cross over etc in TA of FA?

If TA are you scanning automatically or just looking at charts.

The chart doesn't jump out me hence why I am trying to understand your entry.

Cheers

Help me out first Trav?
What is BO, TA (tech analysis?), FA (fundamentals?)
Cheers
PS, it didn't greatly stand out to me either! Haha. Hence the paper trade.
I thought most of the clue was in the open today.

 

[Trav.]

No problems mate.

A lot of people look at Break Outs (BO) which is Technical Analysis as you have deduced. Others like Fundamentals (FA) and is very popular but not my thing.

So just trying to understand where you are at. Maybe markup a chart like below and people can offer a different view.

Some good info here...http://thepatternsite.com/setups.html

 

[frugal.rock]

I was eyeing the market depth (the untraceable indicator?) which seemed favourable, good demand to supply ratio of 1.4:1 , and the bit of down volume around 1:55pm.
I saw an uncanny bounce of support immediately after which signalled my interest.
The open I can't explain and the subsequent decline?
The above coupled with going against the trend of the day and a growing divergence away from the XFJ further sparked my interest.
I know that out of hours market depth doesn't mean much, however, at the moment, it's looking like gapping again tomorrow.
Except that muppet with the order at 4.67, obviously didn't get the memo?
Or went to the pub at lunchtime and the rest was history...?!
I suspect something is afoot with an open like that. Buy the rumour and all?!
Still working on charting and can't do it plopperley from the dog n bone.
Cheers, F.Rock

 

[Trav.]

No problems mate. I know that it is entertaining watching the orders come and go but I wouldn't be basing any entry on this (even though it is paper trade)

I suppose the thing that I would suggest is probably start with weekly charts and get a feel for the trend and volume spikes to see what the next move is as per below.

I found that I have gone through a few styles / systems and slowly settling on something that works for me and my psychological trading issues.

 

[frugal.rock]

No problems mate. I know that it is entertaining watching the orders come and go but I wouldn't be basing any entry on this (even though it is paper trade)

I suppose the thing that I would suggest is probably start with weekly charts and get a feel for the trend and volume spikes to see what the next move is as per below.

I found that I have gone through a few styles / systems and slowly settling on something that works for me and my psychological trading issues.

View attachment 99089

Thanks for the advice, I do need to be told !
Yes, the psychology of trading is a doozy of a beast to come to terms with, as my portfolio tells me the story.
I completely understand how "Trembling Hand" decided on the handle.
Probably a good trade rule, if the hand is trembling on a buy, you are taking too much of a risk.
Or you have a medical condition, and may need to seek urgent medical attention...
F.Rock

 

[frugal.rock]

So, I tried to 'sell' on open today.
Made a mistake on the 'sell' price I wrote.
Wrote $3.xx (been trading Z1P too much...) instead of $4.xx so my 'broker' accepted the order, held the order on manual for 5 minutes then rejected it.
I dislike Westpac for many reasons, starting with trade cost, then money laundering breaches not reported, Branch closures where I have lived at the time (Drummoyne, Dulwich Hill, Riverwood & current location) and $5 monthly account fee for 30 year's.
I am going to move trading to IB or Selfweath and close all business with Westpac.
Brokerage last fin year was $ 6 large.
Total BarStewards.
So, anyway, the open would have been around the now current price of $ 4.83 instead of the actual open of $4.90
Instead, my new 'order' went through at
$ 4.74173 due to the spread.
I didn't 'buy' in again as I expected similar behaviour to yesterday from chart analysis.
F.Rock

 

[Austwide]

Fair enough about Westpac but I think the orders are rejected by ASX

 

[Dona Ferentes]

I was just looking at Pinnacle and its tentacles.

As a financial services company, it provides distribution services, business support and responsible entity services to the Pinnacle Affiliates and develops and operates investment management businesses. Pinnacle currently consists of 15 investment affiliates.

So, there are at many ways to increase fees derived from Funds Under Management

• lift in asset prices
• lift in investor inflows
• diversify offerings to institutions, mFunds, international mandates (can lose these, as well)
• increase in Affiliates
• add New Funds operated by Affiliates
• and, cry poor and up the performance fee scalp

Aggregate Affiliates’ funds under management (FUM) of $70.5 billion at 31 December 2020 (at 100%):
• up $11.8 billion or 20% from $58.7 billion at 30 June 2020
• up $8.9 billion or 14% from $61.6 billion at 31 December 2019

Aggregate Retail FUM of $16.7 billion at 31 December 2020 (at 100%):
• up 28% from $13.1 billion at 30 June 2020
• up 17% from $14.3 billion at 31 December 2019

Net inflows for 1H FY21 of $5.5 billion, including $1.9 billion retail (no inflows from LICs/LITs)

And a list of Managed Funds run by Affiliates with Pinnacle

Hyperion Asset Management -
Hyperion Australian Growth Companies Fund
Hyperion Small Growth Companies Fund
Hyperion Australian Equities Composite
Hyperion Global Growth Companies Fund (Class B Units)

Plato Investment Management
Plato Australian Shares Equity Income Fund
Plato Global Shares Income Fund

Solaris Investment Management
Solaris Core Australian Equity Fund
Solaris Total Return Fund

Resolution Capital
Resolution Capital Real Assets Fund
Resolution Capital Global Property Securities Fund

Palisade Investment Partners
Palisade Diversified Infrastructure Fund
Palisade Australian Social Infrastructure Fund

Antipodes Partners
Global Fund
Global Long Only
Asia Fund

Spheria Asset Management
Microcap Fund
Smaller Companies Fund
Opportunities Fund
Global Microcap Fund

Two Trees Investment Management
Global Macro Fund - USD Composite

Firetrail Investments
High Conviction Fund
Absolute Return Fund
Small Companies Fund

Omega Global Investors
Omega Global Corp Bonds Fund
Omega Global Listed Infrastructure Fund

Metrics Credit Partners
DASLF
SPDF
SPDF II
REDF
WIT
CT

Longwave Capital Partners
Longwave Australian Small Companies Fund

Reminiscent investment Management
Curve Global Macro Fund (Class I)
Curve Global Macro Fund (Class Z)

Coolabah Capital Investments
Smarter Money (Active Cash) Fund Assisted
Smarter Money Higher Income Fund Assisted
Smarter Money Long Short Credit Fund Assisted
Coolabah Active Composite Bond Strategy
Coolabah Long-Short Active Credit Alpha Strategy
HBRD

Aikya
Global Emerging Market Equities

Riparian (provisional #16 affiliate)
Australasian Private Agriculture, Food & Water

 

[Dona Ferentes]

Last week, Andrew Chambers became the third director in just over four months to sell down his stake in the business. On May 13, Chambers sold 300,000 shares at prices between $9.43 and $9.86 for a $2.9 million payday, but retains 5.3 million shares to equal a paper holding worth about $50 million today.

On February 15 and 16, director Adrian Whittingham sold 500,000 shares of his own at prices between $9.73 and $10 each for proceeds of about $4.9 million.

And a week earlier on February 8, Pinnacle’s founder and major shareholder, Ian Macoun, sold 9 million shares, or about 4.8 per cent of Pinnacle’s total issued capital, for a massive $83.25 million payday, or $9.25 a share.


Pinnacle now trading for $9.55 a share. Its business model is to take equity stakes in affiliated asset managers and provide fund marketing, sales and administration services in exchange for a profit share.

Pinnacle’s share of its affiliated fund managers’ performance fees over the just-concluded half was $11 million, compared with just $0.1 million a year earlier. In other words, the performance fees, which can be lumpy, contributed an additional $10.9 million of high-margin revenue towards the $16.5 million of profit growth over the latest share-price-fuelling half year.

- and looking at the exotic, the smaller cap, the tech focused funds in previous post, there is no real guarantee the 'performance' will be repeated.

 

[frugal.rock]

Last week, Andrew Chambers became the third director in just over four months to sell down his stake in the business. On May 13, Chambers sold 300,000 shares at prices between $9.43 and $9.86 for a $2.9 million payday, but retains 5.3 million shares to equal a paper holding worth about $50 million today.

Poor sod, sold out a bit early and missed an extra 30% in 2 months....

If all remains the same since last posting by Dona, the retained 5.3 million shares are not worth $50million anymore, instead there worth around $67 million today.

Must be kicking himself eh ? ?

I keep saying, money makes money, doesn't slow the missus spending up though...

What a rocket of a stock!
Wam Bam !

 

[Dona Ferentes]

I keep saying, money makes money....

What a rocket of a stock!

Lots of UPs >>>> strong results out today, and surging to an all-time high (hit close to $15 and holding a good 7% lift

Pinnacle Investments shares beat analysts’ forecasts with a net profit up 108 per cent to $67 million in FY 2021.

> Basic earnings per share (EPS) attributable to shareholders of 38.2 cents, up 103% from 18.8 cents in FY20
> Diluted earnings per share (EPS) attributable to shareholders of 36.5 cents, up 104% from 17.9 cents in FY20
> Fully franked final dividend per share of 17.0 cents (up 100% from the fully franked FY20 final dividend of 8.5 cents), taking total fully franked dividends for the financial year to 28.7 cents (up 86% from the fully franked FY20 total dividends of 15.4 cents)
> Pinnacle’s share of Affiliates NPAT was $66.4 million, up 75% from $38.0 million in FY20
> Aggregate Affiliates funds under management (FUM) of $89.4 billion at 30 June 2021 (at 100%);
.... up $18.9 billion or 27% from $70.5 billion at 31 December 20202
.... up $30.7 billion or 52% from $58.7 billion at 30 June 20203
> Aggregate Retail FUM of $20.3 billion at 30 June 2021 (at 100%);
.... up $3.6 billion or 22% from $16.7 billion at 31 December 2020
.... up $7.2 billion or 55% from $13.1 billion at 30 June 2020
> Net inflows for FY21 of $16.7 billion ($11.25 billion in the six months ended 30 June 2021 (2H FY21)), including $4.5 billion retail ($2.6 billion in the six months ended 30 June 2020 (2H FY20)), of which $0.2 billion was LICs/LITs, all in 2H FY21

Pinnacle’s $96.1 million cash balance may indicate possible acquisitions in FY 2022....

Entering FY22:

• Anticipate growth –starting FUM >20% ahead of FY21 average FUM

• Recognise possibility of further external adversity –but resilient

• Prepared for, and seeking, further expansion opportunities.

 

[Porper]

Lots of UPs >>>> strong results out today, and surging to an all-time high (hit close to $15 and holding a good 7% lift

Pinnacle Investments shares beat analysts’ forecasts with a net profit up 108 per cent to $67 million in FY 2021.

> Basic earnings per share (EPS) attributable to shareholders of 38.2 cents, up 103% from 18.8 cents in FY20
> Diluted earnings per share (EPS) attributable to shareholders of 36.5 cents, up 104% from 17.9 cents in FY20
> Fully franked final dividend per share of 17.0 cents (up 100% from the fully franked FY20 final dividend of 8.5 cents), taking total fully franked dividends for the financial year to 28.7 cents (up 86% from the fully franked FY20 total dividends of 15.4 cents)
> Pinnacle’s share of Affiliates NPAT was $66.4 million, up 75% from $38.0 million in FY20
> Aggregate Affiliates funds under management (FUM) of $89.4 billion at 30 June 2021 (at 100%);
.... up $18.9 billion or 27% from $70.5 billion at 31 December 20202
.... up $30.7 billion or 52% from $58.7 billion at 30 June 20203
> Aggregate Retail FUM of $20.3 billion at 30 June 2021 (at 100%);
.... up $3.6 billion or 22% from $16.7 billion at 31 December 2020
.... up $7.2 billion or 55% from $13.1 billion at 30 June 2020
> Net inflows for FY21 of $16.7 billion ($11.25 billion in the six months ended 30 June 2021 (2H FY21)), including $4.5 billion retail ($2.6 billion in the six months ended 30 June 2020 (2H FY20)), of which $0.2 billion was LICs/LITs, all in 2H FY21

Pinnacle’s $96.1 million cash balance may indicate possible acquisitions in FY 2022.

Still a funny market. Better than expected results sold into, with the stock well off its highs and in the red. The trait of weak closes in our market is still apparent. it will change though...just need to be patient.

I hold so fully expect a rally next week Lol

 

[peter2]

This has been a belter of a trend since the Covid low in Mar 2020. There aren't many stocks that are up >620% since that low.

I've been dismissing it as a boring old fund manager. Bad decisions all "twenty" of them.

 

[Miner]

It is still descending - by the time I am editing, the fall is 11 percent.
No announcement .
Has a very high PE of course

 

[Dona Ferentes]

It is still descending - by the time I am editing, the fall is 11 percent.
No announcement .
Has a very high PE of course

Has more than doubled in the last 12 months. Probably some fund manager selling down, after booking the CY numbers?