Asset manager Pinnacle Investments has lifted net profit 120 per cent to $13.8 million for the half-year to December 31 2020.

It will pay a fully franked interim dividend up 70 per cent to 11.7 cents per share on earnings up 116 per cent to 8.1 cents per share for the period.

Its shares of affiliates’ net profit climbed 80 per cent to $31.8 million, versus $17.7 million in the prior corresponding half.

Pinnacle owns a 49.9 per cent stake in high-performing fund manager Hyperion as well as significant stakes in Plato Asset Management, Solaris, Palisade, and Firetrail.

Total affiliated funds under management rose 14 per cent to $70.5 billion as at December 31.

Pinnacle shares added 7 per cent to a record closing high of $8.03 on Wednesday and are up 11 per cent over the past year.