WAM Capital’s investment portfolio delivered a 14.9 per cent return for the six months ending 31 December 2024, outperforming the S&P/ASX All Ordinaries Accumulation Index by 8.0 per cent and the S&P/ASX Small Ordinaries Accumulation Index by 9.4 per cent.
Over the course of the 2024 calendar year, the portfolio achieved an impressive 30.2 per cent return, surpassing the broader market by 18.8 per cent compared to the All Ordinaries Index and 21.8 per cent against the Small Ordinaries Index.
The investment company’s operating profit before tax stood at $208.7 million, up 40.3 per cent from a year earlier.
Chairman Geoff Wilson AO credited the investment team’s disciplined approach for the firm’s strong results, stating: “It has been pleasing to see another strong result from the WAM Capital investment team, with the portfolio continuing to outperform the market.
“This outperformance has allowed the board to maintain the high partially franked interim dividend of 7.75 cents per share.”
WAM declared a 7.75 cents per share interim dividend, representing an annualised yield of 9.6 per cent, or 12.1 per cent on a grossed-up basis.
Also commenting on the firm’s outperformance, lead portfolio manager Oscar Oberg said: “The investment team and I are pleased to have delivered strong investment portfolio performance for our shareholders.
“WAM Capital has outperformed both indexes despite a challenging environment, marked by the continued underperformance of small-cap companies. With a favourable interest rate environment, the investment portfolio is well positioned to capture opportunities in 2025.”
Last year, WAM’s investment firm, WAM Leaders, acquired 100 per cent of the shares in QV Equities, with the aim to enhance its size and relevance in the market.
