Fund managers, page-4

@daicosisgod
Hi Daico,
I also like PNI that I have been following that it was listed as Pinnacle (ex.Wilson).
Also wrote several posts on it, including one just one year ago ("an interesting active fund manager").
But it did not seem to interest many people, a bit like what we have seen with CWP.

Anyway, it is a tougher case after such a performance during the last 5 years.
Main reason why I like it : there is a high operating leverage in their model. So it depends a lot on their ability to grow their top line (so their AUM), while they have a remarkable track record in growing their AUM.
I struggle a bit with their performance fees as I am not sure if they are that recurring (probably needs to be tested).