WAM Income Maximiser Posts 19.2% Return and 6.9% Fully Franked Dividend Yield

Strong Portfolio Performance with Lower Volatility

WAM Income Maximiser Limited (ASX:WMX) has reported a robust 19.2% increase in its investment portfolio for the 12 months ending 30 June 2026, significantly outperforming its benchmark by 13.4%. This outperformance was achieved with 17.1% less volatility than the S&P/ASX 300 Accumulation Index, underscoring the fund’s ability to deliver strong returns with reduced risk.

Since its April 2025 inception, the portfolio has grown at an annualised rate of 17.8%, beating the benchmark by 7.6% per annum while maintaining 25.9% lower volatility. This consistency highlights the effectiveness of the fund’s active management and multi-asset approach.

Growing Fully Franked Dividends Exceed Targets

The fund’s income generation has kept pace with its capital growth, delivering an annualised fully franked dividend yield of 6.9% for September 2026, including franking credits. This surpasses the target income return of 6.3%, reflecting the portfolio’s strong cash flow and disciplined capital management.

Monthly dividends have steadily increased, with the September 2026 dividend declared at 0.65 cents per share fully franked. The Dividend Reinvestment Plan (DRP) continues to operate without a discount, allowing shareholders to reinvest dividends at the volume weighted average market price over the four trading days post ex-dividend date.

Dynamic Multi-Asset Strategy Navigates Market Uncertainty

Lead Portfolio Manager Matthew Haupt attributes the fund’s performance to its flexible allocation across Australian equities and investment-grade corporate debt. The portfolio team actively repositioned holdings in response to shifting economic conditions, interest rate expectations, geopolitical tensions, and the rapid evolution of artificial intelligence.

Key equity holdings include blue-chip Australian companies such as Aristocrat Leisure, Amcor, Goodman Group, and Wesfarmers, while the debt portfolio features hybrid securities and fixed rate bonds from major banks like ANZ, Westpac, Macquarie Group, NAB, and Commonwealth Bank, maturing between 2031 and 2046.

Haupt emphasised the focus on high-quality investments capable of delivering attractive risk-adjusted returns amid market volatility, positioning the fund well for evolving interest rate expectations.

Experienced Management and Strong Fund Support

WAM Income Maximiser is managed by Wilson Asset Management, which oversees $6.0 billion across nine listed investment companies and four unlisted funds. Portfolio Strategist Damien Boey brings over 20 years of macroeconomic and investment experience, complementing Haupt’s expertise in fixed income, equities, and multi-asset investing.

Chairman Geoff Wilson AO highlighted the fund’s strong first full financial year, praising the investment team’s disciplined execution and the growing stream of fully franked monthly dividends as key achievements for shareholders.