The Pacific Current Group Ltd (ASX: PAC) share price hit a new 52-week high of $6.15 this morning.
Shares of the boutique asset manager are up 36% in the past year, and up 50% over the past 5 years.
According to Google Finance, the Company is focused on seeking out and partnering with investment managers. The Company invests in global asset management through its investment in Aurora Trust, which is involved in funds management.
Aurora Trust manages the Company's interest in over 20 boutiques in Australia, the United States and other jurisdictions ranging from traditional equities to alternatives and private equity. The Company's portfolio is diversified across a range of dimensions, including investment strategy, geography, revenue model and client type. All of its boutiques are involved in managing assets for institutional and individual clients around the world. The Company is focused on the sale of boutique investment products and services to institutional investors, superannuation and pension funds, family offices and other classes of investors.
Shares have rocketed higher in May due to booming funds under management. Fund manager Perpetual Limited (ASX: PPT) upped its stake to 12%, and Pacific Current announced an oversubscribed capital raising at $5.65 per share.
At a share price of $6.21, Pacific Current shares offer a fully franked dividend of 4.1%.
