VGI Partners generates 17.8% return, increases dividend
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The news: Regal-owned VGI Partners Global Investments has increased its final dividend on the back of portfolio performance and profit growth.
The numbers: The fund manager returned 17.8% net and 26.3% total (pre-franking) over FY24.
VGI posted a full-year net profit of $64.1 million after tax, up 19% on the year prior.
It will pay shareholders a final fully franked dividend of 5 cents per share, pushing its full-year dividend to 10 cents.
Post-tax net tangible assets stood at $2.24 at 30 June, 8% higher than 12 months ago.
The fund manager's share price edged 0.26% lower in early trading to $1.90 and over the last 12 months has risen 14.7%.
The context: VGI's top five holdings were the London Stock Exchange Group, tech giants Amazon and Meta, South Korean semiconductor company SK Hynix and fellow fund manager GQG Partners.
VGI was acquired by Regal Partners in late 2023, seeing founder and chief investment officer Rob Luciano step down and Regal chief investment officer Phil King take over the reins.
From 1 July, the fund has implemented a simplified set of investment guidelines, predominately lifting its gross exposure limit from 150% to 200%.
The source: ASX announcement
