WAM active strategy delivers 75.5%

WAM Active (ASX: WAA), one of Wilson Asset Management's (WAM) active listed investment companies (LICs), has recorded 75.5% in investment performance in the 12 months to 30 June 2026.

Outperforming the Bloomberg AusBond Bank Bill Index (Cash) and the S&P/ASX All Ordinaries Accumulation Index by 71.6% and 69.8%, respectively, the performance was listed as the "strongest" year since the inception of the LIC in 2008.

The fully franked dividend for the full financial year was 6.4 cents per share, representing a fully franked dividend yield of 5.9% and a grossed-up dividend yield of 8.4%. When including the three cents special fully franked dividends per share, the total dividends declared represent a fully franked dividend yield of 8.6% and a grossed-up dividend yield of 12.3%, WAA said.

In total, WAA delivered a record total shareholder return of 40.2% over the period.

WAA lead portfolio manager Oscar Oberg said the accomplishment was attributed to key themes around critical minerals, electrification, precious metals and artificial intelligence.

"Equity markets over the 2026 financial year were characterised by elevated volatility, rapid shifts in macroeconomic expectations and pronounced rotation across sectors and themes," Oberg said.

"Changes to interest rate outlooks, geopolitical developments and the accelerating AI adoption contributed to periods where company fundamentals were often overshadowed by broader market positioning.

"These conditions created dislocations across parts of the market, particularly in smaller and less well-covered companies, providing opportunities for the investment team to identify mispriced securities using WAM Active's market-driven approach."

WAA portfolio manager Shaun Weick said China remains a key driver of markets.

"Throughout the period, we actively managed the investment portfolio's cash position in response to market conditions, with cash peaking at 35.5% during February. This flexibility allows us to protect capital in more uncertain environments and deploy cash quickly as opportunities emerge," Weick said.

"As we enter the new financial year, China remains a key driver of markets, with improving property and electrification trends supporting copper demand, where we remain bullish given strong structural tailwinds and near-term catalysts across several holdings."

Meanwhile, WAM chair and chief investment officer Goeff Wilson noted the record result reflected the strength of the investment strategy it currently deploys.

"This record result reflects the strength of WAM Active's disciplined and flexible investment strategy, outstanding stock selection and active portfolio management," Wilson said.

"We remained focused on delivering strong long- term returns and a growing stream of fully franked dividends for shareholders."