AFI portfolio return 2.0%, distribution coverage drops to 91.4%
Investment income held inside the historical band, but the interim dividend now exceeds NPAT and the portfolio trailed its benchmark by 2.2 points.
Published 22 April 2026
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Investment income held inside the historical band, but the interim dividend now exceeds NPAT and the portfolio trailed its benchmark by 2.2 points.
Published 22 April 2026
Read briefingInvestment income rose 3.0% but a 7.2% portfolio return lagged the 7.6% benchmark, reversing last year's 0.7pp outperformance.
Published 22 April 2026
Read briefingStrong capital return lifted net assets above the historical baseline, but softer investment income left distributions at 102.9% of NPAT.
Published 22 April 2026
Read briefingStrong portfolio capital return masked a 5.4% drop in investment income, narrowing distribution coverage as the interim dividend was raised.
Published 22 April 2026
Read briefingUnderlying profit rose 8.6% excluding the prior-year one-off, while the 13.9% portfolio return lagged the ASX 200's 16.6% gain.
Published 22 April 2026
Read briefingInvestment income reached an unprecedented $178.1m and the interim dividend lifted to 11 cents, but the 7.1% portfolio return trailed the 10.8%
Published 22 April 2026
Read briefingDividend receipts lifted distribution coverage to 163.2% even as net assets fell 7.5% against a benchmark total return of just 5.1%.
Published 22 April 2026
Read briefingPost-COVID dividend recovery lifted income to NZ$161.8m and portfolio return of 6.9% beat the 4.6% benchmark by 2.3 percentage points.
Published 22 April 2026
Read briefingCapital returns rebounded with the market, but income from holdings stayed subdued, leaving distributions only 106% covered by investment income.
Published 22 April 2026
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