Australia · Delayed Price · Currency is AUD Wam Alternative Assets Earnings Call Transcripts
Fiscal Year 2026
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Portfolio delivered a 9.1% return for FY 2026, outperforming the market with lower volatility and strong private equity performance. Dividend yield is 6%, with over two years of coverage, and the outlook is positive as legacy assets decline and new investments mature.
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NTA per share is AUD 1.18, with shares trading at a 15% discount and a strong profit reserve covering 2.4 years of dividends. Portfolio performance is robust, with low volatility, increased private equity exposure, and a focus on inflation-protected assets.
Fiscal Year 2025
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The AGM addressed underwhelming recent performance, with net returns lagging targets and market benchmarks. The board emphasized improved governance, a repositioned portfolio, and optimism for future returns, while recommending against liquidation due to illiquidity and shareholder interests.
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Portfolio returned just over 5% for FY25, with strong dividend growth and a revitalized asset mix. Outlook is positive across private equity, real estate, and water, supported by a more aligned investor base and improved market conditions.
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The portfolio has been revitalized with diversified allocations, improved performance, and a strong dividend reserve. Shareholder alignment and register tightening are ongoing to address the share price discount, while sector focus includes private equity, real estate, infrastructure, and private debt.
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WMA delivered an 8% portfolio return and over 5% dividend yield in the past year, with low volatility and a strong profit reserve. The portfolio is being repositioned for growth, with a focus on private debt, infrastructure, and reducing legacy assets. A key shareholder vote at year-end may help close the current 20% discount to NTA.
Fiscal Year 2024
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The AGM reviewed a 3.5% portfolio increase, a strong profit reserve, and a fully franked dividend. Board members Michael Cottier and Kym Evans were re-elected, with all resolutions supported. Strategic focus remains on private equity and narrowing the share price discount.