Half Year 2026 Wam Alternative Assets Ltd Earnings Call Transcript
Key Points
- WAM Alternative Assets Ltd (ASX:WMA) reported a solid performance over the last six months, with a portfolio return of just under 5%.
- The company has increased its dividend to $0.03, reflecting confidence in future performance.
- The portfolio has a low correlation of 0.01 to listed markets, providing resilience against equity market volatility.
- WAM Alternative Assets Ltd (ASX:WMA) has a strong track record of exiting investments at a 33.6% weighted average premium to NTA.
- The company is actively engaging with financial advisors to increase shareholder base and reduce the NTA discount.
- The share price is trading at a discount to NTA, currently around 15%, which is a concern for shareholders.
- Franking on dividends has been reduced to 60% due to timing issues with asset exits.
- The portfolio's performance over the last three years has been weaker due to a lack of vintage diversification.
- There is a concern about the impact of AI disruption on the portfolio, although exposure is limited.
- The company faces challenges in convincing financial advisors to include WMA in their model portfolios, which affects the NTA discount.
Good morning everyone, and thank you very much for tuning in to the WAM Alternate Asset Webinar. Myself, Jeff Wilson, we've got Nick Kelly, who, is the lead portfolio manager, managing, this, pool of capital on behalf of all shareholders, and Lara from one of our senior, Corporate affairs, people will be helping with the Q&A. So I'll just talk a little bit about, from a, from more from, I think the director's perspective, and then we'll pass over to Nick to drill into the portfolio, and then we'll, of course, open up for questions, and look, you all know this is your company, The reason we're we're here communicating with you, is so you can ask us any questions you want, the more shareholders understand about the business, and the company, the more likely you are to be medium long-term shareholders, and, probably, where the share price is now at at at at it's probably the biggest opportunity of all the wham licks to be buying. Say a dollar of assets for broadly $0.85, and you know the current NTA is around that $1.18 and the share price is around
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