WFM is managed by Westoz Investment Company Limited (WIC) and Ozgrowth Limited (OZG).
For the six months to 31 December 2013, WIC generated a return of 17.6 per cent and OZG a return of 22.6 per cent.
The strong results flowed through to a growth in net assets per share, with WIC increasing 14.4 cents to a $1.318 and OZG net assets per share rising 2.8 cents to 23.3 cents, after allowing for tax and expenses.
Both companies will provide interim dividend payments from the gains.
The full-year dividend yields are expected to be 7.3 per cent for WIC and 7.9 per cent for OZG.
The main equities held over the six-month period included Automotive Holdings Group Limited, Aquila Resources Limited, Aurora Oil and Gas Limited, Cedar Woods Properties Limited and Finbar Group Limited.
Cash accounted for 30 per cent of the WIC portfolio at the end of December and 15 per cent of the OZG portfolio.
Cedar Woods was one of the major contributors to the results, which grew 48 per cent in value.
The strength of iron ore producers and the takeover of Clough Limited also influenced the results significantly.
WFM executive chairman Philip Rees said the company investment group was pleased with its first-half results, which saw equity investments performing well and compensating for the lower returns of its cash holdings.
“While the investment environment remains challenging, we are seeing a number of opportunities arise and we look forward to utilising this cash over the medium term,” Mr Rees said.
