Thoughts on PNI
Hi, Appreciate all your hard work, team. Thank you. Just wondering if you would be able to give your current thoughts on PNI? If you owned it, when would you consider fading out? Thank you very much, Brent
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Answer
Hi Brent,
Great timing on the question with PNI up over 3% on Friday after reporting Net Income for the year of $90.4mn, up 18% YOY (year on year). Funds under management ruled off the financial year at a record $110.1 billion as its assets jumped by 20 per cent and the manager attracted new money from offshore investors. The multi-affiliate investment firm booked $9.9 billion in net inflows in the 12 months to June 30, with international investors accounting for the majority at $7 billion. Overall, a solid result and we wish we were long!
- We are more inclined to buy dips as opposed to selling strength in PNI.
