WAM Income Maximiser Limited is our new Wilson Asset Management listed investment company (LIC) which aims to deliver investors monthly franked dividends and capital growth from investing in high-quality equities and corporate debt – the first Australian LIC to do so. It has been created in response to shareholder demand, with 63% of our shareholders expressing interest for a monthly income stream via our annual shareholder survey.
Wilson Asset Management has a proven track record of delivering shareholders a stream of fully franked dividends through its eight established LICs. WAM Income Maximiser seeks to build on this foundation, aiming to provide shareholders with monthly franked dividends, capital growth over the medium-to-long-term (more than five years) and preservation of capital.
The offer is currently expected to close on Friday 11 April 2025 at 5:00pm (Sydney time). The Board of Directors is pleased to announce that the offer has exceeded the minimum subscription on opening, which has been met with strong demand from investors.
To apply for your Priority Allocation, click here.
Please read the Prospectus and the Target Market Determination carefully before making an investment decision.
Wilson Asset Management Chairman Geoff Wilson introduces WAM Income Maximiser
In the press – WAM Income Maximiser:
Register to join our WAM Income Maximiser Q&A – Monday 31 March 2025:
Please register here to join our second webinar, purely focused on Q&A, on Monday 31 March 2025 at 2:00pm (Sydney time).
Hear from Geoff Wilson, Matthew Haupt and Damien Boey on the construction of the WAM Income Maximiser investment portfolio, our market outlook, our best stock picks and corporate bond ideas and more. With almost 300 investor questions submitted during the last webinar, we are pleased to provide further insights and answer investors’ queries.
WAM Income Maximiser FAQs:
1. What will WAM Income Maximiser invest in?
WAM Income Maximiser will invest in high-quality Australian equities along with primarily investment grade corporate bonds and notes, hybrids and short-term money market instruments. The core asset allocation is initially expected to be 60-70% equities and 30-40% debt.
2. How is WAM Income Maximiser different to other income earning entities?
WAM Income Maximiser is a listed investment company (LIC) that aims to provide shareholders with:
- Access to Australia’s highest quality companies that can sustain or grow their distributions over time, in the form of franked dividends and share buybacks. The Investment Portfolio will be actively managed, predominantly comprised of high-quality Australian equities in the ASX 300 Index (initially expected to be 60-70%) and primarily investment grade corporate notes and bonds, hybrids and short-term money market instruments (initially expected to be 30-40%).
- A multi-asset strategy focused on Australian listed equities as well as corporate debt securities seeking to enhance diversification while providing a combination of franked income and capital growth over the medium-to-long term (more than five years), through exposures to a wide pool of underlying assets.
- Exposure to Wilson Asset Management’s proven investment process, applied within an Investment Strategy focused on high quality, cash generative companies, with compelling distributions to shareholders.
- The benefits of the LIC structure, which provides investors with a closed pool of capital, strong corporate governance and the ability to pay fully franked dividends.
3. Who is WAM Income Maximiser suitable for?
The Company may be suitable for investors seeking:
- A consistent stream of monthly income and franking credits through exposure to Australian listed equities and corporate debt; and/or
- A total investment return, inclusive of franking credits, aligned with a blended Benchmark comprising 60% of the S&P/ASX 300 Accumulation Index and 40% of the Bloomberg AusBond Bank Bill Index + 1.0% per annum.
If you are uncertain as to whether an investment in the Company is suitable for you, please contact your stockbroker, financial adviser, accountant, lawyer or other professional adviser.
4. What dividend yield should we expect for the first year?
The Company’s target income return is the RBA Cash Rate + 2.5% per annum, including franking credits. Based on current market conditions, the Company’s objective is to deliver an income return for Shareholders of over 6.0% per annum, including franking credits, through the cycle, to be paid monthly to Shareholders. The Company will be aiming to be in a position to commence declaring and paying monthly dividends in August 2025, subject to the Company’s investment portfolio performance and sufficient income being generated over that time, being three months after the Company’s initial public offering. In addition to income generation, the Company is aiming to achieve capital growth over the medium-to- long term (more than five years).
5. Will shares be 100% fully franked?
The WAM Income Maximiser Directors intend to frank dividends at 100%, or to the maximum extent possible over time. Initially dividends may be partially franked as we build up the profits reserve, collect franking on dividend income and pay tax.
6. How to apply – How do I apply through the online application?
If you are an existing shareholder, click on ‘Current Wilson Asset Management Shareholder (Priority Code)’ and enter your Priority Code which can be found in an email or letter you would have received from Boardroom. If you are a past shareholder of the Wilson Asset Management listed investment companies, shareholders’ family and friends, subscribers to Wilson Asset Management updates and their associated entities with a registered address in Australia, click on ‘Wilson Asset Management Family Priority (No Priority Code).’ Please make sure that you download both the Prospectus and TMD and tick the two boxes below:
Once you enter your Priority Code, you can click next to land on the registration page. Please then press continue and it will bring you to the application page.
Additional FAQs – WAM Income Maximiser.
Watch: WAM Income Maximiser Q&A Webinar – Friday 21 March 2025
Watch the recording, read the transcript or view the slides on our website.
Disclaimer:
Please consider the Prospectus and Target Market Determination available at wilsonassetmanagement.com.au/wam-income-maximiser/ before making investment decisions. All investments carry risks and the information provided here by WAM Income Maximiser is general only – it does not consider anyone’s personal objectives or circumstances. Contact us on (02) 9247 6755 or via the website link.
The initial public offering of shares in WAM Income Maximiser Limited (Company) is being made under a Prospectus, which can be found with the Target Market Determination (TMD) at wilsonassetmanagement.com.au/listed-investment-companies/wam-income-maximiser/, or you can contact the Company on 02 9247 6755 to obtain a copy. Any share application must be in the form accompanying the Prospectus.
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