SYDNEY: Wilson Asset Management’s WAM Alternative Assets (ASX: WMA) reported an 8.9% annualised return since its appointment as investment manager in October 2020, outperforming public markets with lower volatility, according to its FY2025 results released Tuesday.
The listed investment company (LIC), which offers retail investors access to institutional-grade alternative assets, posted a 5.3% portfolio gain for the year ended June 30. Its standard deviation of 3.1% compares favourably to the S&P/ASX All Ordinaries Accumulation Index’s 13.0%, underscoring its lower-risk profile.
WAM declared a fully franked final dividend of 6.0 cents per share, bringing total dividends since 2020 to 27.1 cents, including franking credits. The FY2025 dividend yield stands at 5.9%, or 8.4% grossed-up.
The portfolio spans private equity (27.2%), water and agriculture (22.6%), infrastructure (14.7%), real estate (11.3%), private debt (6.4%), and cash (17.8%), with thematic exposure to food scarcity, ageing demographics, energy transition, and digitalisation.
Shareholder numbers have surged nearly 40% since September 2020, with over 70% of the register joining post-WAM’s appointment. More than 30% hold three or more WAM LICs.
The board urged shareholders to vote against Resolution 4, which proposes terminating the investment management agreement and liquidating the company. Chairman Geoff Wilson AO said the move would undermine access to a unique portfolio and disrupt dividend continuity.
WAM will host investor briefings across Brisbane, Adelaide, Sydney, and Melbourne in September to discuss portfolio strategy and recent exits.