Wilson Asset Management (WAM) Active has finished the financial year with $1.5 million in profit, a 280 per cent increase on the previous corresponding period.
The company said the significant increase in net profit after tax reflected the change in the value and size of the investment portfolio, in part due to the option issue.
“WAM Active has delivered a pleasing result, with the investment portfolio increasing 15.4 per cent with an average equity weighting of 66.1 per cent for the year,” said WAM chairman Geoff Wilson.
According to chief investment officer Chris Scott, the investment portfolio delivered a “sound performance” last financial year as a result of the strategy’s low correlation to equity markets and high cash weighting.
“The company has effectively applied its proven investment approach, providing investors with exposure to an active trading style capitalising on short-term market mis-pricings and arbitrages,” Wilson said.
WAM Active also announced a fully franked final dividend of 4.75 cents per share, an increase of 5.6 per cent on the previous corresponding period.
