Acorn Capital Investment Fund Ltd Registered · ASX:ACQ
Acorn Capital Investment Fund Ltd Registered — Acorn Capital Investment Fund — FY2024 Earnings Presentation
23 slides from Acorn Capital Investment Fund Ltd Registered's earnings presentation, Aug 1, 2024
Slide 1: Investor Update FY 2024 - Financial Year Review
INVESTOR UPDATE FY 2024 For personal use only ACORN CAPITAL INVESTMENT FUND LTD INVESTOR UPDATE – 2024 FINANCIAL YEAR REVIEW ASX:ACQ Acorn Capital Limited • www.acorncapital.com.au • info@acorncapital.com.au
Slide 2: Disclaimer and Important Information
INVESTOR UPDATE FY 2024 DISCLAIMER AND IMPORTANT INFORMATION For personal use only IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Acorn Capital Investment Fund Limited ACN 167 595 897 (ACQ). The information in this presentation is only intended for Australian residents. The p
Slide 3: Key Facts - June 2024
INVESTOR UPDATE FY 2024 KEY FACTS - 30 JUNE 2024 For personal use only Pre-tax NTA 1.0202 Performance - since inception 5,7 7.8% p.a. Post-tax NTA1 1.0583 Benchmark - since inception 6,7 6.3% p.a. ACQ share price $0.785 Investment Split Cash, 0.5% Ordinary Dividends 2 7.0c Unlisted, 31.2% Implied ca
Slide 4: Strategy
INVESTOR UPDATE FY 2024 STRATEGY For personal use only ACQ investment strategy has demonstrated an ability to deliver positive investment outcomes 1 1. DIVIDEND INCOME2 2. CAPITAL GROWTH 3. DIVERSIFICATION3 1. At 30 June 2024, the ACQ portfolio gross return has outperformed the S&P/Small Ordinaries
Slide 5: Growth of $10K and Dividend Policy
INVESTOR UPDATE FY 2024 GROWTH OF $10K 31 December 2023 Balance For personal use only $30,000 Dividend Reserves $26.3m Ordinary Dividend CPS (RHS) 8.00 Franking Credit Balance $1.6m Special Dividend CPS (RHS) $25,000 ACQ - Total Return* (LHS) 7.00 ACQ Dividend Policy 6.00 “Acorn Capital Investment F
Slide 6: Key Focus
INVESTOR UPDATE FY 2024 KEY FOCUS For personal use only Recognise the stage of development, reflecting the microcap investment universe Small/Mid Cap Funds/Growth Private Equity Earnings / Operating Cash flows Venture Capital Funds Seed / start up Early Expansion Mature growth Ex-growth Acorn Capita
Slide 7: Proven Investment Strategy
INVESTOR UPDATE FY 2024 PROVEN INVESTMENT STRATEGY For personal use only Since listing on ASX 1 the ACQ investment portfolio has: ▪ Outperformed the Microcap Index in 9 of 11 financial years to date ▪ Outperformed the S&P/Small Ordinaries Accumulation Index in 7 of 11 financial years to date Portfol
Slide 8: Sector Observations
INVESTOR UPDATE FY 2024 For personal use only SECTOR OBSERVATIONS Acorn Capital Limited • www.acorncapital.com.au • info@acorncapital.com.au
Slide 9: Current bear market in microcaps
INVESTOR UPDATE FY 2024 Current bear market in microcaps Max Drawdown Max Drawdown Max Drawdown in All Ords1 in Small Ords1 in Microcaps1 For personal use only 125 115 +14.3% 105 -11.5% 95 -9.6%% 85 -20.7% 75 Start of Microcap -23.8% Bear Market in -29.5% Jun-22 22 Months 65 -26.5% Dec-21 Jan-22 Feb
Slide 10: Signal for the Contrarian Investor
INVESTOR UPDATE FY 2024 SIGNAL FOR THE CONTRARIAN INVESTOR Periods of relative underperformance in microcaps have historically created attractive For personal use only opportunities to deploy capital into the sector Rolling 12 Month Return Differentials - Microcaps vs All Ordinaries 60% Microcaps ou
Slide 11: Variations in Indices Are Common
INVESTOR UPDATE FY 2024 VARIATIONS IN INDICES ARE COMMON Since 30 June 2001, the Microcap Index returned 4.9%pa. versus S&P/ASX Aus Small Ords 5.1%pa. For personal use only ▪ ▪ Despite delivering similar returns, in 14 of the last 24 financial years the indices have materially diverged by more than
Slide 12: Stocks in Focus
INVESTOR UPDATE FY 2024 For personal use only STOCKS IN FOCUS Acorn Capital Limited • www.acorncapital.com.au • info@acorncapital.com.au
Slide 13: Rich Data Corporation (Unlisted - Early stage of development)
INVESTOR UPDATE FY 2024 Rich Data Corporation (Unlisted - Early stage of development) ▪ Rich Data Corporation (RDC) utilises artificial intelligence and machine learning to provide cloud-based For personal use only credit risk assessment for financial institutions (especially banks). ▪ RDC trains it
Slide 14: Impedimed (IPD.ASX - Expansion stage of development)
INVESTOR UPDATE FY 2024 Impedimed (IPD.ASX - Expansion stage of development) ▪ IPD is commercializing its SOZO Digital Health Platform, with For personal use only its lead indication in Lymphoedema prevention. ▪ “Foundations in place for success” – A unique opportunity on the ASX ▪ Technology – 256
Slide 15: Peninsula Energy (PEN.ASX - Expansion)
INVESTOR UPDATE FY 2024 Peninsula Energy (PEN.ASX – Expansion 1 (under construction) For personal use only ▪ Uranium developer – Wyoming, USA ▪ Restart of the Lance Uranium operation ▪ In-situ recovery (ISR) operation ▪ Switching from alkaline to acid leach method (more conventional) ▪ Forecast prod
Slide 16: Catapult (CAT.ASX - Expansion stage of development)
INVESTOR UPDATE FY 2024 Catapult (CAT.ASX - Expansion stage of development) 90% GP Margin & Expense Margin 120% 80% 100% For personal use only ▪ Catapult is a global leader in wearable sports tracking 70% 60% 80% 50% 60% devices, and now emerging video solutions. 40% 30% 40% 20% ▪ In the past manage
Slide 17: Fremantle Commercial Diving (Unlisted - Expansion stage)
INVESTOR UPDATE FY 2024 Fremantle Commercial Diving (FCD) (Unlisted - Expansion stage of development) For personal use only ▪ FCD Water, trading as Dredge Robotics (DR) is a tech-enabled services business that conducts essential maintenance of large-scale water storage infrastructure. ▪ DR has devel
Slide 18: Portfolio & Performance
INVESTOR UPDATE FY 2024 For personal use only PORTFOLIO & PERFORMANCE Acorn Capital Limited • www.acorncapital.com.au • info@acorncapital.com.au
Slide 19: Portfolio Overview
INVESTOR UPDATE FY 2024 PORTFOLIO OVERVIEW1 For personal use only TOP 10 INVESTMENTS MARKET CAP BANDS Company Weight % $0-$100M 1 Clarity Pharmaceuticals 4.5% $100-$200M 2 Splend Holdings 2 3.8% $200-$300M 3 Marketplacer 2 3.6% $300-$400M 4 Elenium Automation 2 3.1% $400-$500M 5 Metals Acquisition 2
Slide 20: Performance
INVESTOR UPDATE FY 2024 PERFORMANCE For personal use only 3 1 3 5 Since Portfolio Return for Periods to 30 JUNE 2024 months year years years inception % % % p.a. % p.a. % p.a.3 ACQ (Post Fees & Op Costs)1 3.4 2.9 -4.7 7.0 7.8 S&P/ASX Small Ords Acc. Index 4 -4.5 9.3 -1.5 3.7 6.3 Value add +7.9 -6.4
Slide 21: Diversified Portfolio & Attractive Returns
INVESTOR UPDATE FY 2024 For personal use only DIVERSIFIED PORTFOLIO & ATTRACTIVE RETURNS • ACQ provides investors with an ATTRACTIVE DIVIDEND emerging company portfolio, that is YIELD difficult to replicate • Risk managed through bottom-up stock • 7.0 cents in fully franked ordinary selection and di
Slide 22: Fund key terms and board
INVESTOR UPDATE FY 2024 Type Listed Investment Company To achieve after-fee returns in the long-term that are higher than the S&P/ASX Small Ordinaries For personal use only Objective Accumulation Index Benchmark S&P/ASX Small Ordinaries Accumulation Index • Australian Listed Equities Investment univ
Slide 23: Further Information
INVESTOR UPDATE FY 2024 FURTHER INFORMATION For personal use only Dan McAleer +61 415 792 911 danmcaleer@acorncapital.com.au Robert Routley +61 405 617 704 robertroutley@acorncapital.com.au www.acqfund.com.au Acorn Capital Limited • www.acorncapital.com.au • info@acorncapital.com.au
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