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Marlin Global (MLN) briefings
Read that company's published results in release order, newest first.
Marlin Global (MLN)FY26Released 25 August 2026
Portfolio loss drives $17.3m net loss as NTA falls to $0.80
A $17.3m net loss and an NTA of $0.80 reflect portfolio returns that trailed the benchmark by 39 percentage points, not weaker income.
Published 25 August 2026
Read briefingMarlin Global (MLN)HY26Released 16 February 2026
Marlin's portfolio returned 3.0% against an unprecedented 14.0% benchmark
Manager underperformance widened to 11.0pp and NAV per share fell 8.3% even as the absolute portfolio result stayed within historical norms.
Published 22 April 2026
Read briefingMarlin Global (MLN)FY25Released 18 August 2025
Portfolio return of $5.9m lagged an unprecedented 50% benchmark
Investment income held above the historical baseline at $1.2m, but portfolio total return fell 86.3% while the benchmark posted a record 50% gain.
Published 22 April 2026
Read briefingMarlin Global (MLN)HY25Released 21 February 2025
Marlin's 3.7% portfolio return lagged the 10.5% benchmark by 6.8 points
NTA per share rose 8.5% to $1.02 and dividend income hit an unprecedented $0.9m, but benchmark underperformance is the central read.
Published 22 April 2026
Read briefingMarlin Global (MLN)FY24Released 19 August 2024
NPAT up 57.6% to $37.2m on a $42.9m portfolio total return
Strong absolute gains came against a benchmark return of 15.2%, which sits at the lower edge of Annolyse's historical range.
Published 22 April 2026
Read briefingMarlin Global (MLN)HY24Released 22 February 2024
NPAT swung to NZ$10.2m on NZ$12.4m portfolio total return
An above-range portfolio result drove the swing to profit, but running investment income of NZ$0.4m covers only 7.9% of distributions paid.
Published 22 April 2026
Read briefingMarlin Global (MLN)FY23Released 22 August 2023
Portfolio swung to NZ$27.6m total return but NTA stayed near lower edge
NPAT rebounded to NZ$23.6m and NTA per share rose 4.5% to NZ$0.93, yet net assets of NZ$192.8m remain at the lower edge of Marlin's recent range.
Published 22 April 2026
Read briefingMarlin Global (MLN)HY23Released 17 February 2023
Portfolio returned -6.5% versus benchmark +6.3% as NTA fell to $0.80
Active management lagged the benchmark by 12.8 percentage points as net assets dropped 33.1% and the interim distribution was cut to 1.66cps.
Published 22 April 2026
Read briefingMarlin Global (MLN)FY22Released 22 August 2022
NTA per share fell 30.5% on an unprecedented NZ$58.5m portfolio loss
An unprecedented portfolio markdown left FY22 distributions covered only 5.7% by investment income, with NTA falling from $1.28 to $0.89 per share.
Published 22 April 2026
Read briefingMarlin Global (MLN)HY22Released 28 February 2022
NTA hit a record NZ$1.26 but the portfolio trailed its benchmark by 2.7pp
Active management delivered a 1.5% return against a 4.2% benchmark while distributions of 5.06 cents ran at 132.4% of NPAT.
Published 22 April 2026
Read briefingMarlin Global (MLN)FY21Released 24 August 2021
Portfolio return of 46.7% beat benchmark by 8.9pp, NTA up 24.3%
A record $69.2m NPAT reflects $77.3m of net investment gains, but recurring dividend income remains a small slice of total return.
Published 22 April 2026
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