WAM Active Limited (WAA)

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General Information
Company Name: WAM Active Limited
Stock Code: WAA
Website: www.wamfunds.com.au
GICS Sub-Industry: Other Diversified Financial Services
Market Cap ($M): 42
Equiv. Shares (M): 35

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 1.200 $ 1.200 $ 1.200 $ 1.200 $ 1.200 15,142 0%

Company Overview

Business Description:
WAM Active Limited (WAA) is a listed investment company that provides investors exposure to an active trading style with the aim of achieving an absolute return with a low correlation to traditional markets. The Company’s investment objectives are to deliver a regular income stream via fully franked dividends; to provide a positive return with low volatility, after fess, over most periods of time; and to preserve capital. MAM Pty Limited is an investment manager.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A 3.2 9.7 34.9 12.8 9.6 7.7 100.0
2013  A 1.5 7.2 195.1 15.6 9.5 8.5 100.0
2012  A 0.4 2.4 -67.6 42.6 9.0 8.7 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Challenger (CGF) $3,868 M 0.0459 -0.0139 0.0545 11.2028 11.3602 10.7726 3.83 4.41 4.78
IOOF (IFL) $2,686 M 0.1260 0.1396 0.0995 17.0932 14.9992 13.6412 5.31 5.87 6.46
Macquarie Group (MQG) $18,806 M 0.5572 0.1448 0.0576 16.0040 13.9797 13.2179 6.42 5.13 5.34
Platinum Asset Mgmt (PTM) $3,835 M 0.4366 0.0573 0.0525 20.3453 19.2420 18.2825 5.15 5.05 5.54
WAM Active (WAA) $42 M 0.3486 -- -- 12.3584 -- -- 8.00 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
WAA 0.24 12.4 1.13 --
Market 1.13 13.6 1.00 1.02
Sector 1.17 13.4 1.05 1.85

Name Position Start Date
Mr Geoffrey James Wilson Non-Executive Chairman 06 July 2007
Mr Mathew James Kidman Non-Executive Director 06 July 2007
Mr John Bruce Abernethy Non-Executive Director 06 November 2007
Mr Chris Stott Non-Executive Director 01 July 2014
Ms Katherine Thorley Non-Executive Director 01 July 2014

Substantial Shareholders
Holding Name
2,234,793 (8.80%) Geoffrey James Wilson

Calendar of Events
Date Event
29 September 2015 Report (Annual)
04 August 2015 Report (Prelim)
03 February 2015 Report (Interim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.


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