WAM Alternative Assets Reports 9.1% Return for Fiscal 2026

WAM Alternative Assets reported a 9.1% portfolio return for fiscal 2026. This performance improvement follows the maturation phase of the firm's private equity holdings. The result includes 2.5% from income and 6.6% from asset revaluations, indicating a shift toward stable growth for the fund.

"The underlying investment portfolio, we delivered 9.1% returns, which is quite a bit higher than the last few years. We’re pleased with those results," said Nick Kelly, Portfolio Manager at WAM Alternative Assets, during the company's earnings call.

Portfolio Performance and Valuation

The fund strategy focuses on delivering returns while minimizing the volatility associated with alternative investments. Management stated that the recent performance validates the firm's valuation approach, which has remained conservative.

"Twenty-four exits at an average of near 30% premium to where they have been held in the portfolio, if anything, shows the portfolio is relatively conservative valued over time," Kelly said.

The company's stock currently trades at an 18% discount to its Net Tangible Assets (NTA). Management noted that this represents the widest discount among the listed funds managed by Wilson Asset Management.

Dividend Strategy and Capital Management

Reflecting the firm's focus on shareholder returns, the company declared a final dividend of AUD 0.03 per share. This brings the total annual payout for fiscal 2026 to AUD 0.06 per share.

"The profit reserve is a symbol of realized gains and unrealized gains. It is an objective of this company and of the board to pay fully franked dividends," said Jacob Grover, an investment analyst covering the fund.

Why This Matters for Investors

The transition toward a mature portfolio provides a predictable experience for shareholders, according to the transcript of the earnings call. By maintaining a focus on fully franked dividends and managing the gap between share price and NTA, the firm aims to address the current valuation discount while continuing to deploy capital across its alternative asset classes.