By Matt Bell
WAM Leaders reported an 8.4 per cent increase in its investment portfolio for the six months to December 31, outperforming the S&P/ASX 200 Accumulation Index by 4.8 per cent.
The board declared a fully franked interim dividend of 4.8¢ per share, equivalent to a 7 per cent annualised yield and 10 per cent grossed-up yield including franking credits.
Total shareholder return for the half-year, including franking credits, was 16.8 per cent. Pre-tax net tangible assets were $1.32 per share at December 31, with the share price closing near NTA parity.
WAM Leaders’ operating profit before tax rose 185.4 per cent to $137 million, while after-tax profit jumped 157.2 per cent to $99.9 million. Lead portfolio manager Matthew Haupt attributed outperformance to early positioning in the materials sector and anticipation of the Reserve Bank of Australia’s hawkish pivot, combined with a fully invested stance throughout the period.
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