Washington H. Soul Pattinson (ASX:SOL) beat the market by a whopping 20%
Nick Sundich, September 21, 2022
It has been a difficult twelve months for ASX-listed fund managers and their shareholders, including for Washington H. Soul Pattinson (ASX:SOL). But today, the ASX’s second oldest company, released its results for FY22 (the twelve months to 31 July 2022) and it told investors that it had beaten the market by 20%!
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
Washington H. Soul Pattinson is getting better with age
Washington H. Soul Pattinson grew its Pre-tax Net Asset Value (NAV) by 13.8%, which was 20.2% ahead of the All Ordinaries Index (which fell by 6.4% in that time frame).
On a post-tax basis, NAV grew by 28.5%, which implied a 34.9% outperformance of the market. It also delivered a $834.6m operational post-tax profit (up 154%) and $347.9m in net cashflows from investments (up 93%).
It paid a special dividend of 15cps in addition to an ordinary dividend of 72cps, up 16.1% and representing a yield of 3.3%.
Washington H. Soul Pattinson also boasted of its long term records with a 20-year Total Shareholder Return (TSR) of 12.2% per annum, 3.4% higher than the market.
Can it continue to beat the market in FY23?
Shares in Washington H. Soul Pattinson gained a modest 1.5% at market open this morning, showing investors were cautiously optimistic about the future.
Washington H. Soul Pattinson (ASX:SOL) share price chart (Graph: TradingView)
The company’s managing director Todd Barlow was less cautious, noting that the lower valuations in asset classes represented opportunities for the future and that it had ample cash and liquidity to take advantage of them.
With a long-term track record and without the troubles facing other listed money managers, such as Magellan (ASX: MFG), it is easier to have confidence in this one relative to its peers. But a lot will depend on the decisions Washington H. Soul Pattinson money managers and analysts make in the next 12 months.
No time to do stock research, but you still want to invest?
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!
GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY
No credit card needed and the trial expires automatically.
Blog Categories
Get Our Top 5 ASX Stocks for FY25
Recent Posts
Can Gold Hit $4,000 in 2025? These 5 ASX Stocks Could Soar if It Does
In our view, the question isn’t just whether gold can hit $4,000 an ounce in 2025; it’s about what happens…
Qantas Board Shake-Up: Is Investor Pressure Finally Taking Effect?
Qantas Airways, Australia’s flagship airline, has long been a symbol of national pride, maintaining a central position in the country’s…
Orthocell (ASX:OCC): All systems go for a US market roll out of its flagship Remplir nerve repair product
Orthocell (ASX:OCC) is the latest ASX biotech to obtain FDA approval. Its nerve repair product Remplir was already approved in…