Pinnacle Investment Management (ASX: PNI) is a “multi-affiliate investment management firm” that operates slightly differently to your typical fund manager. Pinnacle holds ownership interests in specialist investment managers and partners with them to provide governance, working capital, seed funding and marketing/distribution and support services. This allows investment managers to operate autonomously while receiving any needed support to grow their business.
Every three months the various ASX indices are re-balanced to take into account the market capitalisation movements. S&P Dow Jones Indices announced the changes to the S&P/ASX 300 Index.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 1.26% at lunch.
Pinnacle Investment Management Group Ltd (ASX:PNI) shares skidded into a voluntary trading halt today as the company seeks to raise more than $60 million to make acquisitions.
Here are the headlines from the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) and Australian finance circles on Tuesday morning.
