WAM Alternative Assets Establishes $20 Million NAV Facility and Reports 9.6% One-Year Portfolio Return

Aditi Sarkar

05 November 2026 03:14 PM AEDT

WAM Alternative Assets Establishes $20 Million NAV Facility and Reports 9.6% One-Year Portfolio Return

Image Source: Krish Capital Pty Ltd

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WAM Alternative Assets Limited (ASX:WMA) has established a revolving net asset value debt facility with a maximum facility amount of AUD 20 million with a global financial institution, while reporting investment portfolio performance of 9.6% for the one-year period to 30 September 2026, before expenses, fees and taxes.

Key Points

NAV Facility is a revolving credit facility with a maximum facility amount of AUD 20 million and a committed accordion amount of a further AUD 20 million, with a maturity date of three years from commencement and a possible 12-month extension subject to lender consent.
The company will draw $10 million from the NAV Facility in the coming week, representing a 4% loan to valuation ratio (LTV).
Investment portfolio returned 9.6% over one year, 7.0% per annum over three years, 7.6% per annum over five years, and 8.9% per annum since Wilson Asset Management's appointment in October 2020, all before expenses, fees and taxes.
Wilson Asset Management-directed investments delivered a return of 11.3% during FY2026, while the legacy Blue Sky portfolio, representing less than 12% of the investment portfolio, detracted 2.2% over the same period.
The company committed a further $25 million to two Australian private equity strategies during FY2026.

NAV Facility Terms and Security Arrangements

The NAV Facility is secured by a first-ranking general security interest over all of the company's present and future assets, as is standard market practice for secured debt facilities. In the event of a default under the facility agreement, the lender would rank ahead of shareholders in relation to the company's present and future assets. The facility carries a floating interest rate and fees described as consistent with market terms for facilities of this nature. The facility requires the company to maintain specified liquidity and leverage thresholds, with periodic covenant testing. No additional fees will be paid to Wilson Asset Management as a result of the facility, as management fees are charged on net asset value rather than gross asset value.

Investment Portfolio Performance at 30 September 2026

According to the filing, all asset classes contributed positively to investment portfolio performance during FY2026, with private equity identified as the largest contributor. The investment portfolio performance figures, before expenses, fees and taxes, show returns of 9.6% over one year, 7.0% per annum over three years, 7.6% per annum over five years, and 8.9% per annum since Wilson Asset Management was appointed as Investment Manager in October 2020. The filing states that much of WAM Alternative Assets' private equity portfolio has moved beyond the J-curve phase and is contributing to portfolio performance.

FY2026 Capital Commitments and Portfolio Composition

During FY2026, WAM Alternative Assets committed $25 million to two Australian private equity strategies to facilitate deployment of capital into new opportunities and to ensure the portfolio holds investments across various stages of maturity. The filing states that several investments made during 2025 and 2026 remain held at cost, as is typical in the first 12 months following acquisition of a new investment. The legacy Blue Sky portfolio, which now represents less than 12% of the investment portfolio, detracted 2.2% from performance during FY2026. The investment portfolio is described as remaining diversified across asset classes and stages of maturity.

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