30 September 2024
Listed: August 2003
WAM Research provides investors with exposure to a diversified portfolio of undervalued growth companies, which are generally small-to-medium sized industrial companies listed on the ASX. WAM Research’s investment objectives are to provide a stream of fully franked dividends and achieve a high real rate of return, comprising both income and capital growth, within acceptable risk parameters.
NTA before tax
$1.11
Full year dividend, 60% franked
10.0cps
Dividend yield
8.3%
Grossed-up dividend yield
10.4%
Dividends paid since inception
149.0cps
Dividends paid since inception, when including the value of franking credits
211.1cps
Assets
$235.5m
Investment portfolio performance (% p.a. since July 2010)
15.3%
Investment portfolio performance is before expenses, fees and taxes to compare to the relevant index which is also before expenses, fees and taxes.
Our proven research driven investment process
Diligent and deep research on undervalued growth companies that focuses on:
- Free cash flow
- Return on equity
- Meeting management
- The quality of a company
Catalyst A major event that alters the market's perception of a company or its earnings momentum which will lead to a rerating of the investee company's share price
Board of Directors
Geoff Wilson has more than 44 years’ direct experience in investment markets having held a variety of senior investment roles in Australia, the UK and the US. Geoff founded Wilson Asset Management in 1997, which today, comprises of 19 investment professionals who offer a combined investment experience of more than 200 years. Wilson Asset Management manages over $5 billion on behalf of more than 130,000 investors as the investment manager for eight listed investment companies and the Wilson Asset Management Leaders Trust. Geoff is currently Chairman of WAM Capital Limited, WAM Leaders Limited, WAM Global Limited, WAM Microcap Limited, WAM Research Limited, WAM Active Limited and WAM Strategic Value Limited. He is the founder and Director of Future Generation Australia Limited and Future Generation Global Limited, and Director of WAM Alternative Assets Limited. In 2014 Geoff created Australia’s first listed philanthropic wealth creation vehicles, Future Generation Australia, and subsequently Future Generation Global in 2015. To date, the Future Generation companies have donated more than $75 million to Australian not-for-profits. Geoff holds a Bachelor of Science, a Graduate Management Qualification and is a Fellow of the Financial Services Institute of Australia and the Australian Institute of Company Directors (AICD). In addition to Geoff’s Directorships with the Wilson Asset Management Group and the Future Generation companies, he also holds Directorships with Staude Capital Global Value Fund Limited (since 2014), Hearts and Minds Investments Limited (since 2018), Sporting Chance Cancer Foundation (since 1997) and the Australian Rugby Foundation (2024).
Kate Thorley has over 20 years’ experience in the funds management industry and more than 25 years of financial accounting and corporate governance experience. Kate is the Chief Executive Officer of Wilson Asset Management, Director of WAM Capital, WAM Leaders, WAM Global, WAM Research, WAM Active, WAM Microcap and WAM Strategic Value. Kate is a Director of Future Generation Australia and Future Generation Global. Kate is a graduate member of the Australian Institute of Company Directors and is a Chartered Accountant.
John has over 41 years’ experience in funds management and corporate advisory. He spent ten years at NRMA Investments as Head of Equities managing portfolios. In 1994 he joined Poynton Corporate Limited as an Executive Director before forming Clime Investment Management Limited in 1996. John was also appointed Chairman of Clime Capital Limited in July 2009. He has a Bachelor of Law and Commerce from The University of New South Wales.
Julian has spent the last 26 years of his career working as a Professional Director of Public Companies. Prior to that he was involved in the stockbroking, merchant banking and venture capital industries.
Linda has over 20 years’ experience in financial accounting including more than 15 years in the funds management industry. As the Finance Manager of Wilson Asset Management (International) Pty Limited, Linda oversees finance and accounting and is also the Joint Company Secretary for six listed investment companies, WAM Capital Limited, WAM Leaders Limited, WAM Global Limited, WAM Microcap Limited, WAM Research Limited and WAM Active Limited. Linda holds a Bachelor of Commerce and is a fully qualified CPA. She is a certified member of the Governance Institute of Australia. Linda was appointed Company Secretary of WAM Research Limited in May 2016.
Jesse is a Chartered Accountant with more than 16 years’ experience working in advisory and assurance services, specialising in funds management. As the Chief Financial Officer, Jesse oversees all finance and accounting of Wilson Asset Management (International) Pty limited. Jesse is currently a non-executive director of the Listed Investment Companies & Trusts Association, Company Secretary for WAM Alternative Assets Limited and WAM Strategic Value Limited and Joint Company Secretary for WAM Capital Limited, WAM Leaders Limited, WAM Global Limited, WAM Microcap Limited, WAM Research Limited and WAM Active Limited, in addition to Future Generation Australia Limited and Future Generation Global Limited. Prior to joining Wilson Asset Management, Jesse worked as Chief Financial Officer of an ASX listed company, and also as an advisor specialising in assurance services, valuations, mergers and acquisitions, financial due diligence and capital raising activities for listed investment companies. Jesse was appointed Joint Company Secretary of WAM Research Limited in November 2020.
Fully franked dividends
Our LICs have a proven track record of providing shareholders with a stream of fully franked dividends.
Diversification
Our LICs offer investors exposure to different market sectors and asset classes through their various underlying investments.
Experienced team
The investment team is comprised of 19 professionals who offer a combined experience of more than 200 years in Australian and international equity markets as well as in alternative assets.
Superior structures
The LIC structure allows us to invest for the long term, without being subject to the impact of applications and redemptions. LICs also adhere to strict corporate governance requirements and act in the best interest of shareholders.
Strong performance
We offer a strong track record of performance based on our rigorous investment process.
Risk-adjusted returns
Our flexible investment mandate allows above-average cash holdings and strong, risk-adjusted returns.
Full market access
We hold over 4,000 company meetings each year, and our knowledge of the market and extensive network continually provides valuable intelligence and investment opportunities.
Transparency & engagement
We provide email updates from our Lead Portfolio Managers and investment team, Chairman and CIO, timely market insights in the form of podcasts, articles and videos, in-person presentations, investor education materials and financial reporting.
Type
- Annual report
- Anti-bribery and corruption policy
- Appointment of Wilson Asset Management as Investment Manager
- Chairman's address
- Corporate governance charter
- Corporate governance statement
- Dividend reinvestment plan
- Entitlement offer booklet
- Entitlement offer fact sheet
- Fact sheet
- Financial report
- Independent research report
- Interim financial report
- Key dates
- Media release
- Modern slavery statement
- Monthly investment update
- Notice of meeting
- Option prospectus
- Presentation
- Prospectus
- Share purchase plan
- Share purchase plan announcement
- Share purchase plan booklet
- Term sheet
- Whistleblower policy
- Withdrawal form
Item
- WAM Research Notice of Meeting 2024pdf
- WAM Research Monthly Investment Update September 2024pdf
- FY2024 Key Datespdf
- WAM Research Monthly Investment Update August 2024pdf
- WAM Research Corporate Governance Statement 2024pdf
- WAM Research Corporate Governance Charter 2024pdf
- WAM Research FY2024 Annual Reportpdf
- WAM Research FY2024 Full Year Resultpdf
- WAM Research Monthly Investment Update July 2024pdf
- WAM Research Monthly Investment Update June 2024pdf
- WAM Research Monthly Investment Update May 2024pdf
- FY2024 Key Datespdf
- WAM Research FY2024 Half Year Resultpdf
- WAM Research Monthly Investment Update April 2024pdf
- WAM Research Monthly Investment Update March 2024pdf
- WAM Research Monthly Investment Update February 2024pdf
- WAM Research FY2024 Interim Financial Reportpdf
- WAM Research Monthly Investment Update January 2024pdf
- WAM Research Whistleblower Policy 2023pdf
- WAM Research Monthly Investment Update December 2023pdf
- WAM Research Modern Slavery Statement 2023pdf
- WAM Research Monthly Investment Update November 2023pdf
- WAM Research Monthly Investment Update October 2023pdf
- WAM Research Chairman’s Address 2023pdf
- WAM Research Monthly Investment Update September 2023pdf
- WAM Research Notice of Meeting 2023pdf
- FY2023 Key Datespdf
- WAM Research Monthly Investment Update August 2023pdf
- WAM Research Corporate Governance Statement 2023pdf
- WAM Research Corporate Governance Charter 2023pdf
- WAM Research FY2023 Annual Reportpdf
- WAM Research FY2023 Full Year Resultpdf
- WAM Research Monthly Investment Update July 2023pdf
- WAM Research Monthly Investment Update June 2023pdf
- WAM Research Monthly Investment Update May 2023pdf
- WAM Research Monthly Investment Update April 2023pdf
- WAM Research Monthly Investment Update March 2023pdf
- FY2023 Key Datespdf
- WAM Research Monthly Investment Update February 2023pdf
- WAM Research FY2023 Interim Financial Reportpdf
- WAM Research FY2023 Half Year Resultpdf
- WAM Research Monthly Investment Update January 2023pdf
- WAM Research Monthly Investment Update December 2022pdf
- WAM Research Monthly Investment Update November 2022pdf
- WAM Research Monthly Investment Update October 2022pdf
- WAM Research Notice of Meeting 2022pdf
- WAM Research Monthly Investment Update September 2022pdf
- FY2022 Key Datespdf
- WAM Research Monthly Investment Update August 2022pdf
- WAM Research FY2022 Annual Reportpdf
- WAM Research FY2022 Full Year Resultpdf
- WAM Research Corporate Governance Charter 2022pdf
- WAM Research Corporate Governance Statement 2022pdf
- WAM Research Monthly Investment Update July 2022pdf
- WAM Research Monthly Investment Update June 2022pdf
- WAM Research Monthly Investment Update May 2022pdf
- WAM Research Chairman’s Address 2022pdf
- WAM Research Monthly Investment Update April 2022pdf
- WAM Research Monthly Investment Update March 2022pdf
- FY2022 Key Datespdf
- WAM Research Monthly Investment Update February 2022pdf
- WAM Research FY2022 Interim Financial Reportpdf
- WAM Research FY2022 Half Year Resultpdf
- WAM Research Monthly Investment Update January 2022pdf
- WAM Research Monthly Investment Update December 2021pdf
- WAM Research Whistleblower Policy 2022pdf
- WAM Research Modern Slavery Statement 2021pdf
- WAM Research Monthly Investment Update November 2021pdf
- WAM Research Chairman’s Address 2021pdf
- WAM Research Monthly Investment Update October 2021pdf
- WAM Research September 2021 Quarterly Reportpdf
- WAM Research Notice of Meeting 2021pdf
- WAM Research Monthly Investment Update September 2021pdf
- WAM Research Monthly Investment Update August 2021pdf
- FY2021 Key datespdf
- WAM Research Corporate Governance Charter 2021pdf
- WAM Research Corporate Governance Statement 2021pdf
- WAM Research FY2021 Annual Reportpdf
- WAM Research FY2021 Full Year Resultpdf
- WAM Research Monthly Investment Update July 2021pdf
- WAM Research Monthly Investment Update June 2021pdf
- WAM Research Monthly Investment Update May 2021pdf
- WAM Research Corporate Governance Charter 2021pdf
- WAM Research Corporate Governance Statement 2021pdf
- WAM Research Quarterly Planner Report March 2021pdf
- WAM Research Monthly Investment Update April 2021pdf
- WAM Research Corporate Governance Statement 2020pdf
- WAM Research Monthly Investment Update March 2021pdf
- WAM Research Modern Slavery Statement 2020pdf
- WAM Research Monthly Investment Update February 2021pdf
- Interim profit up 205% and 4.95cps FF interim dividendpdf
- WAM Research December 2020 Quarterly Reportpdf
- WAM Research FY2021 Half Year Resultpdf
- WAM Research Monthly Investment Update January 2021pdf
- WAM Research Anti-Bribery and Corruption policypdf
- WAM Research Monthly Investment Update December 2020pdf
- WAM Research FY2021 Interim Financial Reportpdf
- WAM Research Monthly Investment Update November 2020pdf
- WAM Research Chairman’s Address 2020pdf
- WAM Research Monthly Investment Update October 2020pdf
- WAM Research Notice of Meeting 2020pdf
- WAM Research Monthly Investment Update September 2020pdf
- WAM Research Monthly Investment Update August 2020pdf
- FY2021 Key Datespdf
- WAM Research FY2020 Annual Reportpdf
- WAM Research FY2020 Full Year Resultpdf
- WAM Research Monthly Investment Update July 2020pdf
- WAM Research Investment Update June 2020pdf
- WAM Research Investment Update May 2020pdf
- WAM Research Corporate Governance Charter 2020pdf
- WAM Research FY2020 Interim Financial Reportpdf
- WAM Research Investment Update April 2020pdf
- WAM Research Investment Update March 2020pdf
- FY2020 Key Datespdf
- WAM Research Investment Update February 2020pdf
- WAM Research FY2020 Half Year Resultpdf
- WAM Research Investment Updatepdf
- WAM Research Investment Update December 2019pdf
- WAM Research Whistleblower Policy 2019pdf
- WAM Research Investment Update November 2019pdf
- WAM Research Investment Update October 2019pdf
- WAM Research Investment Update September 2019pdf
- WAM Research Investment Update August 2019pdf
- WAM Research FY2019 Annual Reportpdf
- WAM Research FY2019 Full Year Resultpdf
- FY2019 Key Datespdf
- WAM Research Investment Update July 2019pdf
- WAM Research Investment Update June 2019pdf
- WAM Research Investment Update May 2019pdf
- WAM Research Corporate Governance Charter 2019pdf
- WAM Research Chairman’s Address 2019pdf
- WAM Research Corporate Governance Statement 2019pdf
- WAM Research investment update April 2019pdf
- Zenith Annual Report – WAM Researchpdf
- WAM Research March 2019 Investment Updatepdf
- WAM Research February 2019 Investment Updatepdf
- WAM Research January 2019 Investment Updatepdf
- WAM Research December 2018 Investment Updatepdf
- WAM Research FY2019 Half Year Resultpdf
- WAM Research November 2018 Investment Updatepdf
- WAM Research FY2019 Interim Financial Reportpdf
- WAM Research October 2018 Investment Updatepdf
- WAX September 2018 Investment updatepdf
- WAM Research Corporate Governance Statement 2018pdf
- WAM Research FY2018 Annual Reportpdf
- WAM Research Monthly Investment Update August 2018pdf
- WAM Research FY2018 Full Year Resultpdf
- WAM Strategic Value Monthly Investment Update July 2023pdf
- June 2018 Investment updatepdf
- WAM Research May 2018 Investment updatepdf
- WAM Research Chairman’s Address 2018pdf
- April 2018 Investment updatepdf
- March 2018 Investment updatepdf
- IIR WAX March 2018pdf
- February 2018 Investment updatepdf
- February 2018 Investment updatepdf
- WAM Research FY2018 Half Year Resultpdf
- January 2018 Investment updatepdf
- December 2017 Investment updatepdf
- November 2017 Investment updatepdf
- WAM Research FY2018 Interim Financial Reportpdf
- WAM Research Chairman’s Address 2017pdf
- October 2017 Investment updatepdf
- September 2017 Investment updatepdf
- WAM Research DRP rulespdf
- August 2017 Investment updatepdf
- WAM Research Corporate Governance Charter 2017pdf
- WAM Research 2017 Annual Reportpdf
- WAM Research FY2017 Full Year Resultpdf
- July 2017 Investment updatepdf
- June 2017 Investment updatepdf
- May 2017 Investment updatepdf
- April 2017 Investment updatepdf
- Independent Investment Research – March LMI Updatepdf
- March 2017 Investment updatepdf
- Independent Investment Research – March 2017pdf
- February 2017 Investment updatepdf
- WAM Research FY2017 Half Year Resultpdf
- January 2017 Investment updatepdf
- December 2016 Investment Updatepdf
- November 2016 Investment updatepdf
- WAM Research FY2017 Interim Financial Reportpdf
- WAM Research Chairman’s Address 2016pdf
- October 2016 Investment updatepdf
- September 2016 investment updatepdf
- Annual Report FY2016pdf
- August 2016 Investment updatepdf
- July 2015 Investment Updatepdf
- June 2016 Investment Updatepdf
- May 2016 Investment Updatepdf
- April 2016 Investment Updatepdf
- March 2016 Investment Updatepdf
- February 2016 Investment Updatepdf
- January 2016 Investment Updatepdf
- December 2015 Investment Updatepdf
- WAM Research FY2016 Interim Financial Reportpdf
- November 2015 Investment Updatepdf
- October 2015 Investment Updatepdf
- September 2015 Investment Updatepdf
- August 2015 Investment Updatepdf
- July 2015 Investment Updatepdf
- June 2015 Investment Updatepdf
- Annual Report FY2015pdf
- May 2015 Investment Updatepdf
- April 2015 Investment Updatepdf
- March 2015 Investment Updatepdf
- February 2015 Investment Updatepdf
- January 2015 Investment Updatepdf
- December 2014 Investment Updatepdf
- WAM Research FY2015 Interim Financial Reportpdf
- November 2014 Investment Updatepdf
- October 2014 Investment Updatepdf
- September 2014 Investment Updatepdf
- August 2014 Investment Updatepdf
- July 2014 Investment Updatepdf
- June 2014 Investment Updatepdf
- Annual Report FY2014pdf
- May 2014 Investment Updatepdf
- April 2014 Investment Updatepdf
- March 2014 Investment Updatepdf
- February 2014 Investment Updatepdf
- January 2014 Investment Updatepdf
- December 2013 Investment Updatepdf
- Independent Investment Research Quarterly Review – Dec 13pdf
- WAM Research FY2014 Interim Financial Reportpdf
- November 2013 Investment Updatepdf
- October 2013 Investment Updatepdf
- September 2013 Investment Updatepdf
- August 2013 Investment Updatepdf
- July 2013 Investment Updatepdf
- June 2013 Investment Updatepdf
- Annual Report FY2013pdf
- May 2013 Investment Updatepdf
- April 2013 Investment Updatepdf
- March 2013 Investment Updatepdf
- February 2013 Investment Updatepdf
- January 2013 Investment Updatepdf
- December 2012 Investment Updatepdf
- WAM Research FY2013 Interim Financial Reportpdf
- November 2012 Investment Updatepdf
- October 2012 Investment Updatepdf
- September 2012 Investment Updatepdf
- August 2012 Investment Updatepdf
- July 2012 Investment Updatepdf
- June 2012 Investment Updatepdf
- Annual Report FY2012pdf
- May 2012 Investment Updatepdf
- April 2012 Investment Updatepdf
- March 2012 Investment Updatepdf
- February 2012 Investment Updatepdf
- January 2012 Investment Updatepdf
- December 2011 Investment Updatepdf
- WAM Research FY2012 Interim Financial Reportpdf
- November 2011 Investment Updatepdf
- October 2011 Investment Updatepdf
- September 2011 Investment Updatepdf
- August 2011 Investment Updatepdf
- July 2011 Investment Updatepdf
- June 2011 Investment Updatepdf
- Annual Report FY2011pdf
- May 2011 Investment Updatepdf
- April 2011 Investment Updatepdf
- March 2011 Investment Updatepdf
- February 2011 Investment Updatepdf
- January 2011 Investment Updatepdf
- December 2010 Investment Updatepdf
- WAM Research FY2011 Interim Financial Reportpdf
- November 2010 Investment Updatepdf
- October 2010 Investment Updatepdf
- September 2010 Investment Updatepdf
- August 2010 Investment Updatepdf
- July 2010 Investment Updatepdf
- June 2010 Investment Updatepdf
- Annual Report FY2010pdf
- May 2010 Investment Updatepdf
- April 2010 Investment Updatepdf
- March 2010 Investment Updatepdf
- February 2010 Investment Updatepdf
- January 2010 Investment Updatepdf
- December 2009 Investment Updatepdf
- WAM Research FY2010 Interim Financial Reportpdf
- November 2009 Investment Updatepdf
- October 2009 Investment Updatepdf
- September 2009 Investment Updatepdf
- August 2009 Investment Updatepdf
- July 2009 Investment Updatepdf
- June 2009 Investment Updatepdf
- Annual Report FY2009pdf
- May 2009 Investment Updatepdf
- April 2009 Investment Updatepdf
- March 2009 Investment Updatepdf
- February 2009 Investment Updatepdf
- January 2009 Investment Updatepdf
- December 2008 Investment Updatepdf
- WAM Research FY2009 Interim Financial Reportpdf
- November 2008 Investment Updatepdf
- October 2008 Investment Updatepdf
- September 2008 Investment Updatepdf
- August 2008 Investment Updatepdf
- July 2008 Investment Updatepdf
- June 2008 Investment Updatepdf
- Annual Report FY2008pdf
- May 2008 Investment Updatepdf
- April 2008 Investment Updatepdf
- March 2008 Investment Updatepdf
- February 2008 Investment Updatepdf
- January 2008 Investment Updatepdf
- December 2007 Investment Updatepdf
- WAM Research FY2008 Interim Financial Reportpdf
- November 2007 Investment Updatepdf
- October 2007 Investment Updatepdf
- September 2007 Investment Updatepdf
- August 2007 Investment Updatepdf
- July 2007 Investment Updatepdf
- June 2007 Investment Updatepdf
- Annual Report FY2007pdf
- May 2007 Investment Updatepdf
- April 2007 Investment Updatepdf
- March 2007 Investment Updatepdf
- February 2007 Investment Updatepdf
- January 2007 Investment Updatepdf
- December 2006 Investment Updatepdf
- WAM Research FY2007 Interim Financial Reportpdf
- November 2006 Investment Updatepdf
- October 2006 Investment Updatepdf
- September 2006 Investment Updatepdf
- August 2006 Investment Updatepdf
- July 2006 Investment Updatepdf
- June 2006 Investment Updatepdf
- Annual Report FY2006pdf
- May 2006 Investment Updatepdf
- April 2006 Investment Updatepdf
- March 2006 Investment Updatepdf
- February 2006 Investment Updatepdf
- January 2006 Investment Updatepdf
- December 2005 Investment Updatepdf
- WAM Research FY2006 Interim Financial Reportpdf
- November 2005 Investment Updatepdf
- October 2005 Investment Updatepdf
- September 2005 Investment Updatepdf
- August 2005 Investment Updatepdf
- July 2005 Investment Updatepdf
- June 2005 Investment Updatepdf
- Annual Report FY2005pdf
- May 2005 Investment Updatepdf
- April 2005 Investment Updatepdf
- March 2005 Investment Updatepdf
- February 2005 Investment Updatepdf
- January 2005 Investment Updatepdf
- December 2004 Investment Updatepdf
- WAM Research FY2005 Interim Financial Reportpdf
- November 2004 Investment Updatepdf
- October 2004 Investment Updatepdf
- September 2004 Investment Updatepdf
- August 2004 Investment Updatepdf
- July 2004 Investment Updatepdf
- June 2004 Investment Updatepdf
- Annual Report FY2004pdf
- May 2004 Investment Updatepdf
- April 2004 Investment Updatepdf
- March 2004 Investment Updatepdf
- February 2004 Investment Updatepdf
- January 2004 Investment Updatepdf
- December 2003 Investment Updatepdf
- WAM Research FY2004 Interim Financial Reportpdf
- November 2003 Investment Updatepdf
- October 2003 Investment Updatepdf
- September 2003 Investment Updatepdf
- August 2003 Investment Updatepdf
- Annual Report FY2003pdf
- WAM Research prospectuspdf