WAM Alternative Assets Limited (ASX: WMA) has announced strong investment portfolio performance and an increased full-year dividend for the financial year ended 30 June 2026. WAM Alternative Assets Limited is a listed investment company managed by Wilson Asset Management, providing retail investors with exposure to a diversified portfolio of private equity, infrastructure, water, real estate, private debt, and agriculture strategies. The company’s investment portfolio delivered a 9.1% increase in FY2026, reaching 8.9% per annum since Wilson Asset Management’s appointment in October 2020.
The solid performance was primarily driven by robust revaluations across WMA’s private equity investments, reflecting the portfolio’s increasing maturity as investments progress beyond initial phases. Portfolio Manager Nick Kelly noted seeing “the benefits of the portfolio revitalisation strategy reflected across the investment portfolio,” with a focus on realising value and recycling capital. The investment portfolio achieved this performance with a low standard deviation of 2.7% in FY2026, indicating consistent returns and lower risk levels compared to the S&P/ASX All Ordinaries Accumulation Index.
This strong portfolio performance translated into a significant financial uplift, with operating profit before tax soaring 99.8% to $16.6 million, and operating profit after tax increasing 79.6% to $11.2 million. Consequently, the Board declared an increased full-year dividend of 6.0 cents per share, partially franked at 60%, offering a 6.0% dividend yield (7.2% grossed-up). WMA currently possesses 2.3 years of dividend coverage. The company noted that its ability to generate franking credits relies on tax paid on realised profits, with a possibility of future dividends being partially franked or unfranked should sufficient credits not be generated. WAM Alternative Assets Chair Michael Cottier highlighted FY2026 as an important year and acknowledged the importance of franking credits to shareholders.
