Pinnacle Investment Management Group (ASX:PNI) nets $6.2m in performance fees

• Pinnacle Investment Management Group (PNI) will net $6.2 million in performance fees for the recently finished half-year period
• PNI says four affiliates brought in a total of $18 million in fees for the six months to December 31
• The investment firm ran 18 strategies to produce performance fees over FY22, with 5 of the strategies delivering to date
• Pinnacle also advises it expects the net return on principal investments for 1H FY22 to total $2 million, though that number is subject to auditing
• Shares in PNI are down 2.63 per cent at $13.32 per share

Pinnacle Investment Management Group (PNI) will net $6.2 million in performance fees for the recently finished half-year period.

The global investment management firm provided an update to the market on Friday, revealing its cut of the first-half performance fees.

PNI said four of its affiliates brought in $18 million in fees for the six months to December 31, with the ASX-200 lister to walk away with $6.2 million after-tax.

The investment firm ran 18 strategies through its affiliates to try and produce performance fees over FY22, with 11 of the strategies able to produce fees in 1H FY22.

Only five of the 11 strategies have been delivered to date, but Pinnacle said all the 18 strategies had the potential to deliver fees, though six are below their high-water mark.

Pinnacle also advised today that it was expecting the net return on principal investments for 1H FY22 to total $2 million, subject to auditing.

This amount is made up of $1.9 million of dividends and distributions $100,000 of fair value gains/losses on financial assets at fair value through profit or loss.

Shares in Pinnacle Investment Management Group were down 2.63 per cent at $13.32 per share at 10:48 am AEDT.