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Wam Active Limited (WAA)
Wam Active Limited (ASX: WAA) is an Australian listed investment company (LIC) managed by Wilson Asset Management. It primarily invests in a diversified portfolio of undervalued growth companies listed on the ASX, aiming to generate capital growth and fully franked dividends for its shareholders.
Market Cap
A$144M
Shares on Issue
N/A
Price Chart
AI Analysis
WAA operates as an investment vehicle, with its performance intrinsically linked to the expertise of Wilson Asset Management in identifying and investing in undervalued Australian listed companies. Key metrics for WAA include its Net Tangible Asset (NTA) backing per share and the share price's premium or discount to this NTA. As an LIC, its financial health and recent performance are reflected in its portfolio's returns and its ability to maintain a consistent dividend payout, often fully franked.
The growth outlook for WAA is tied to both the performance of its underlying investment portfolio and the broader Australian equity market conditions, particularly for small to mid-cap growth companies. Upcoming catalysts could include strong earnings seasons from its portfolio companies, the narrowing of any NTA discount, or increased dividend distributions. Its strategic direction remains consistent with its mandate: actively managing a portfolio of undervalued growth opportunities to deliver long-term capital appreciation and income to shareholders, acknowledging the inherently speculative nature of small-cap investments.
Bull Case
- • Strong outperformance of WAA's underlying investment portfolio, driven by successful stock selection by Wilson Asset Management.
- • The share price discount to Net Tangible Asset (NTA) per share narrows or moves to a premium, reflecting increased investor confidence and demand.
- • Consistent and growing fully franked dividend payments, making WAA an attractive option for income-focused investors.
Bear Case
- • Underperformance of WAA's investment portfolio due to poor stock selection or a downturn in the broader Australian equity market.
- • The share price discount to Net Tangible Asset (NTA) per share widens, leading to capital erosion for shareholders.
- • Reduced or suspended dividend payments, impacting income-focused shareholders and potentially decreasing investor appeal.
Recent Announcements
Quarterly Activities Report
Highlights production updates, capital allocation priorities, and FY guidance commentary.
Investor Presentation
Strategic outlook with market positioning and growth pipeline.
FAQs
What does WAA do?
Wam Active Limited (WAA) is a listed investment company (LIC) managed by Wilson Asset Management. It invests in a diversified portfolio of undervalued growth companies listed on the Australian Securities Exchange (ASX), aiming to provide shareholders with capital growth and fully franked dividend income.
Is WAA a good investment?
WAA offers exposure to a professionally managed portfolio of Australian growth companies, potentially providing capital growth and regular dividends. However, like all small-cap investments (A$79M market cap), it carries a higher degree of speculation and market risk. Its performance depends on the skill of its fund manager, the performance of its underlying investments, and the broader market conditions. Investors should consider their risk tolerance and investment objectives.
What drives WAA's share price?
WAA's share price is primarily driven by the performance of its underlying investment portfolio (reflected in its Net Tangible Asset or NTA per share), the premium or discount at which its shares trade relative to its NTA, expectations for future dividend payments, and overall investor sentiment towards LICs and the Australian equity market.
Key Metrics
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