Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Gryphon Capital Income Trust Reports Strong FY26 Growth as Income Portfolio Expands
Highlights:
Gryphon Capital Income Trust Delivers Strong FY26 Result
Gryphon Capital Income Trust (ASX: GCI) announced its audited full-year results for the year ended 30 June 2026 on 21 August 2026. The Trust focuses on a broad portfolio of Australian RMBS and ABS investments, with FY26 operating earnings increasing from the previous year.
Revenue from ordinary activities rose 31.27% to AU$99.769 million, while operating profit increased 30.63% to AU$89.859 million from AU$68.789 million in FY25. The result was primarily supported by interest income generated from financial assets, which reached AU$98.146 million during the year.
Portfolio Scale and Capital Growth
GCI significantly increased the scale of its investment portfolio during FY26. Total assets reached approximately AU$1.285 billion at 30 June 2026, compared with AU$1.059 billion a year earlier. The value of financial assets carried at fair value rose to AU$1.241 billion at 30 June 2026, up from AU$1.034 billion a year earlier.
The Trust raised AU$132.4 million through a private placement and unit purchase plan during September and November 2025, followed by a further AU$90.9 million private placement in March 2026. Management said the additional capital was intended to increase portfolio scale, broaden diversification, improve investor liquidity and lower operating costs per unit.
Distributions Remain Central to GCI
During FY26, GCI paid or declared monthly distributions totalling 15.24 cents per ordinary unit, equivalent to approximately AU$89.955 million. On a per-unit basis, distributions eased from 16.44 cents in FY25, while earnings per unit declined to 15.27 cents from 16.57 cents, as the number of units on issue rose to approximately 636.0 million from 524.3 million following the capital raisings. Net assets attributable to unitholders increased to AU$1.275 billion from AU$1.052 billion, while net tangible assets per unit remained at AU$2.01.
The portfolio was predominantly exposed to floating-rate securities, with the Trust reporting AU$1.155 billion in financial assets at fair value through profit or loss and AU$85.966 million through other comprehensive income at year-end.
Outlook
GCI intends to continue operating within its established investment objectives and guidelines. Its future performance will remain influenced by conditions across the RMBS and ABS markets, interest rates, credit conditions and broader investment markets. The Trust cautions that historical returns should not be treated as an indicator of future performance. The expanded capital base and larger portfolio provide GCI with greater scale as it continues investing across Australian securitised credit markets, while maintaining its focus on income generation and portfolio diversification.
Note- All data presented is based on information available at the time of writing.
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