Pinnacle Investment Management (ASX:PNI) unveiled a dual-track update, reporting an 11% decline in first-half net profit while simultaneously announcing a definitive agreement to acquire the remaining 79.2% stake in Pacific Asset Management for $418.8 million.
The investment group’s statutory net profit after tax cooled to $67.3 million for the six months ended Dec. 31, 2025, down from $75.7 million in the prior corresponding period.
The result was largely weighed down by a significant contraction in performance fees, which contributed a net $13.4 million to the bottom line—a sharp drop from the $36.4 million recorded a year earlier.
Consequently, diluted earnings per share fell 18% to 30.1 cents.
Funds under management across Pinnacle’s 18 affiliates rose 13% year-on-year to $202.5 billion, bolstered by $17.2 billion in net inflows.
Shareholders will receive an interim dividend of 29 cents per share; while this represents a 7% bump over the FY25 final dividend, it remains 12% lower than last year’s interim distribution of 33 cents.