Shares in Pinnacle Investment Management Group Ltd (ASX: PNI) are down by almost a quarter over the past year, but according to the team at Macquarie, that presents a good buying opportunity.

The Macquarie analysts have an outperform rating on Pinnacle and a bullish share price target, which I’ll get to shortly.

First, let’s have a look at what Pinnacle does.

Major investment manager

The investment manager owns substantial stakes in a number of funds, which themselves invest across a wide range of sectors.

For example, it owns a 49.9% stake in Hyperion Asset Management, which invests in global and Australian growth equities, and has a 35.9% stake in Palisade, which invests in private infrastructure.

The amount of funds under management in these so-called affiliates came in at $229.4 billion at the end of June this year, which was up 27.9% year on year.

Pinnacle has what it calls a Three Horizons growth strategy, which involves firstly growing the management side of the business, launching brand new affiliates, and also buying stakes in and growing other affiliates.

At the time of the company’s FY26 financial report, Managing Director Ian Macoun said:

We continue to build Pinnacle to deliver sustained high rates of growth for many years into the future. Our distinct business model and Three Horizons growth strategy have built a highly diversified platform across asset classes, geographies and product formats. This platform has supported strong growth to date and provides multiple pathways for further growth, including in larger international markets where we have demonstrated that the Pinnacle model can operate successfully.

Mr Macoun said net inflows were robust across all three channels of the business.

Pinnacle’s net profit for the year was $176.7 million, up from $134.4 million, and the company increased its dividend by 25% to 78.1 cents.

Broker says shares are looking cheap

Macquarie recently reviewed the quarterly performance of three of Pinnacle’s affiliates, the Metrics Master Income Trust (ASX: MXT), the Metrics Income Opportunities Trust (ASX: MOT), and the Metrics Real Estate Multi-Strategy Fund (ASX: MRE).

The returns of these year on year came in at 8.21%, 7.38%, and 11.06% respectively, Macquarie said.

They said their outperform rating on Pinnacle shares reflects attractive organic growth supported by funds under management growth, net funds inflows, plus the potential for accretive mergers and acquisitions.

Macquarie has a price target of $23.95 for Pinnacle, compared with the current share price of $14.45.

Pinnacle is valued at $3.44 billion.

The post Macquarie says this ASX financial share could jump 65% appeared first on The Motley Fool Australia.

More reading

• A rare buying opportunity in 1 of Australia’s top shares?
• 5 things to watch on the ASX 200 on Monday
• 37 ASX shares going ex-dividend next week

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is barely higher on Monday, despite more stocks falling than rising.

At the time of writing, the benchmark index is up around 0.1% to 9,014 points, after closing 0.16% lower at 9,005 points on Friday.

But the gains are pretty narrow across the market. Around 105 ASX 200 shares are falling, compared with 85 trading higher and 10 unchanged.

So, what’s holding the ASX 200 up today?

Resources are holding the index up

The big miners are giving the market some support today.

BHP Group Ltd (ASX: BHP) shares are up 1.38% to $63.11 after reports that China Baowu Steel Group is considering buying a 15% to 25% stake in BHP’s Jimblebar iron ore mine in Western Australia.

BHP has not confirmed any deal and said it regularly considers options that could create long-term value for shareholders.

Rio Tinto Ltd (ASX: RIO) shares are also 0.76% higher at $177.24, while Fortescue Ltd (ASX: FMG) shares have gained 1.60% to $17.50.

Energy stocks are also getting a lift as oil prices rise again amid renewed tensions between the US and Iran.

Brent crude is trading around US$96.45 a barrel, while US crude is near US$91.85.

Woodside Energy Group Ltd (ASX: WDS) shares are up 0.88% to $32.11, and Santos Ltd (ASX: STO) shares have climbed 1.16% to $8.31.

Wall Street adds to rate concerns

US markets finished lower on Friday after a stronger-than-expected jobs report increased expectations that the Fed Reserve could lift interest rates again this month.

The US economy added 162,000 jobs in August, well ahead of forecasts, while the unemployment rate remained at 4.1%.

That pushed bond yields higher and weighed on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) fell 0.51%, the S&P 500 Index (SP: .INX) dropped 0.38%, and the Nasdaq Composite Index (NASDAQ: .IXIC) lost 0.29%.

Markets are now putting the chance of a September rate hike at around 60%, up from roughly 50% before the jobs data was released.

That has also put focus on US inflation figures due on Friday, which could have a big say in what the Fed does at its next meeting.

Foolish takeaway

The ASX 200 is only just in positive territory, and the session still looks fairly mixed.

Whether it stays there could depend on how long the strength in resources lasts, especially with rate expectations moving around again.

With US inflation data to come this week, there’s still plenty that could change the direction of markets.

The post What’s keeping the ASX 200 in the green today? appeared first on The Motley Fool Australia.

More reading

• Experts reckon this high-flying ASX 200 blue-chip stock is a buy
• 5 things to watch on the ASX 200 on Monday
• ASX 200 bank shares led a financial sector rebound last week
• What’s driving the ASX 200 higher today?
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It’s important to keep on top of how much is in your superannuation at every milestone. How else can you make sure you’re on track with your retirement goals?

At age 65, many Australians have either already begun or are very close to retirement. By this age, you can access your superannuation balance regardless of whether you’ve decided to stop work or not, and you’re just two years away from potentially receiving the Age Pension payment too.

So, do you know how your super balance compares to other Aussies the same age?

And do you know how much money you actually need to be able to retire?

Let’s break it down.

What is the average superannuation balance of Australian men aged 65 in FY27?

There isn’t an exact figure for the average superannuation balance for men at age 65, but the Association of Superannuation Funds of Australia (ASFA) provides a helpful guide.

The average 65 to 69-year-old Australian male in FY27 has an average superannuation balance of $448,518.

What is the average superannuation balance of Australian women aged 65 in FY27?

Unfortunately, women the same age have a lot less.

The average 65 to 69-year-old Australian female has an average superannuation balance of around $392,274 in FY27. That’s a gap of over $56,000 compared to men the same age.

The gap is mostly due to women taking extended periods out of the workforce, during which time they earn lower, or even no, compulsory employer superannuation. 

How does your super balance stack up with men and women the same age as you?

And most importantly, how does your balance compare with what you actually need to retire comfortably?

How do these balances compare to what I actually need to retire?

ASFA estimates that it’ll cost single Australians around $55,923 per year to retire comfortably. Couples living together will need to have closer to $78,566 per year combined to finance a comfortable retirement.

These figures also assume you’ll start your retirement at age 67. It also assumes that you’ll receive a part Age Pension around this time and that you own your home outright.

In order to fund a comfortable retirement, ASFA calculates that single Australians will need around $630,000 in their superannuation at age 67. 

Couples will need around $730,000 combined at the same age.

Is my superannuation on track?

To be able to meet this goal, ASFA forecasts that all Australians should have around $604,500 in their superannuation by the time they reach age 65.

How does your superannuation balance compare now?

I think my balance is falling behind. What can I do?

Even at age 65 it’s not too late to try to boost your balance before you stop working.

It’s best to start by making additional contributions to your superannuation. Take advantage of additional concessional or non-concessional contributions, and this can be done via salary sacrifice or by making after-tax payments (provided they’re within your annual limits).

If you’re eligible, there are also government initiatives available that could also help you bridge the gap between the superannuation balance you have and what you need.

The post The average superannuation balance of Australians aged 65 in FY27. How does yours stack up? appeared first on The Motley Fool Australia.

More reading

• How I’d target $5,000 a year in passive income from ASX shares
• Why is everyone talking about China and BHP shares today?
• These ASX shares benefit from a high Aussie dollar
• How Woodside shares are building a ‘unique position’ to supply global LNG markets
• Where does it end? Corporate Travel hit with another blow after crashing 85%

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.