Full Year 2024 Wam Global Ltd Earnings Call Transcript
Key Points
- WAM Global Ltd (ASX:WGB) declared a final fully franked dividend of $0.06 per share, bringing the full year dividends to $0.12 per share, equivalent to a 5.4% dividend yield or 7.7% grossed up.
- The portfolio achieved a total shareholder return (TSR) of 29.2%, including franking benefits.
- The net tangible assets (NTA) increased to $2.52, with the company trading at an 11.5% discount to NTA.
- The investment portfolio outperformed both the MSCI World Index and MSCI Small/Mid-cap Index in the first two months of the financial year.
- The company has a profits reserve covering 6.4 years of dividends, providing a strong buffer for future payouts.
- The portfolio underperformed the MSCI World Index, which was up 19.8%, compared to WAM Global's 15.4% increase.
- The discount to NTA, although reduced, still stands at 11.5%, indicating a gap between market price and asset value.
- The company did not own high-performing stocks like NVIDIA, which accounted for a significant portion of MSCI World returns.
- Economic growth has stalled in several geographies, with concerns around inflation and interest rates impacting market sentiment.
- The Chinese economy remains weak, with house prices and consumption under pressure, affecting global market dynamics.
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FY 2024 full year results webinar for -- Good morning, everyone and welcome to the FY 2024 full year results webinar for WAM Global. This is your company, and we're pleased to provide you an update on the company, recent results and how we see the backdrop and some more information on the portfolio and the outlook for the market as we look ahead. I'm Catriona Burns, the Lead Portfolio Manager for WAM Global. Joining us from Sydney is Nick Healy, Portfolio Manager. And with me here in New York is Nick -- is Senior Investment Analyst, William Liu. From our corporate affairs team, we have Emiko Reed, who will facilitate the Q&A.
On the screen is a disclaimer, which -- so before we begin what you -- what we talk about today is general in nature and shouldn't be seen as financial advice. In terms of agenda for the call, I'll start by running through the recently announced FY 2024 results before discussing some of the themes that we're seeing in the
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