Matthew Haupt

Leading Sydney based fund manager Wilson Asset Management has launched a new listed investment company (LIC), WAM Income Maximiser (ASX: WMX), aiming to provide investors with a monthly income stream and capital growth with less risk.

WAM Income Maximiser 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.

Chairman Geoff Wilson AO said: “The launch of WAM Income Maximiser addresses what we see as a critical gap in the Australian equity market, particularly where recent changes to abolish ‘bank hybrids’ have significantly reduced sources of franked income and an avenue of diversification for Australian retail investors.”

The initial public offering (IPO) capital raising is limited to $510 million AUD, with $180 million allocated to Wilson Asset Management’s existing shareholders. The IPO opened early on Wednesday 12 March 2025 and closes Friday 11 April 2025 at 5:00pm AEST.

The fund will be led by Lead Portfolio Manager Matthew Haupt and Portfolio Strategist Damien Boey (Ex-RBA).

Matthew Haupt said: “Since lodging the prospectus, we have received significant interest in the strategy. WAM Income Maximiser’s offering is unique in the Australian landscape and will provide retail investors with access to wholesale income markets they are typically unable to access. We have had more investors register to attend the Q&A webinar than any other webinar in our 27-year history.

“The WAM Income Maximiser portfolio will consist of an actively managed selection of high-quality, cash-generating stocks, complemented by a core allocation of investment-grade bonds. This multi-asset approach helps reduce volatility while broadening the equity universe beyond a traditional dividend-harvesting strategy,” Mr. Haupt said.

According to the prospectus lodged with ASIC, the Wilson Asset Management-backed fund is targeting payment of the Reserve Bank cash rate plus 2.5 per cent, initially targeting over 6% per annum including franking credits.

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Geoff Wilson

Leading Sydney based fund manager, Wilson Asset Management, is backing founder-led companies with the launch of their latest fund, the Wilson Asset Management Founders Fund.

Wilson Asset Management, which invests more than $5.9bn on behalf of over 130,000 retail and wholesale investors, launched the Founders Fund this week, funded by founder-led executives, CEOs, the firm’s staff and key high-net-worth backers who are aligned with the investment strategy. The investment portfolio will be managed by seasoned Portfolio Managers Tobias Yao and Oscar Oberg.

The launch of the Founders Fund reflects Wilson Asset Management Founder and Chairman Geoff Wilson AO’s long-held belief that investing in founder-led companies delivers outperformance over the medium to long term.

Geoff Wilson AO notes the appeal of investing alongside founders. “After over 40 years in financial markets there is one universal truth I have found: all the great businesses of the world are founder-led.”

Portfolio Manager Tobias Yao said: “Founder-led companies have generated significant returns across our Funds since 2018. These are businesses where the founders have a strong stake, driving an almost obsessive commitment to success.

“After taking a deeper dive into what is driving this performance, it became clear that unique attributes that founders bring to the table play a pivotal role – a compelling vision, long-term investment, and close engagement with shareholders,” said Mr Yao.

The anticipated interest rate cuts in 2025 could provide a welcome tailwind for the IPO market. Founder-led IPOs have historically outperformed their non-founder-led counterparts and the team will be actively assessing every potential investment, with a strong focus on identifying undervalued companies with a catalyst to outperform.

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