WAM Income Maximiser (ASX: WMX), a listed investment company managed by Wilson Asset Management that aims to provide monthly franked dividends and capital growth to shareholders, has announced outperformance of its investment portfolio since deploying IPO proceeds in May 2025. The company successfully listed on April 30, 2025, and strategically invested raised capital into ASX300 equities and investment-grade corporate debt ahead of schedule. This approach aims to capture equity upside while benefiting from predictable income and access to wholesale debt markets.
Lead Portfolio Manager Matthew Haupt highlighted the team’s ability to capitalize on spread compression in the debt portfolio and tactically increase equity exposure in June, driving strong performance. Chairman Geoff Wilson AO noted that WAM Income Maximiser is trading at a premium to its net tangible assets (NTA), consistent with market demand, and is on track to meet or exceed its target income return on NTA. At 31 July 2025, the gross running yield of the underlying investment portfolio is 4.7%, including franking credits, before any capital growth.
The company has declared dividend guidance of 0.25 cents per share for September (0.36 cents including franking) and 0.30 cents per share for October (0.43 cents including franking). The inaugural monthly fully franked dividend of 0.20 cents per share was declared on 18 July 2025, with shares going ex-dividend on 14 August 2025 and payable on 29 August 2025. The profits reserve after three months of operation was reported as 1.31 cents per share, and the capital profits reserve was 2.03 cents per share.
