Pacific Current Group Ltd · ASX:PAC
Pacific Current — Treasury Group — Shareholder Meeting (November 2011)
20 slides from Pacific Current's shareholder meeting presentation, Nov 10, 2011
Slide 1: Annual General Meeting
Annual General Meeting 10 November 2011
Slide 2: Chairman's Address
Chairman’s Address Mike Fitzpatrick 2
Slide 3: Results Overview
Results Overview • Total Funds Under Management (FUM) at 30 June 2011 - $16.7 billion, up $2.1 billion on the previous year (or 13.9%) • Normalised NPAT down 4.5% year on year • The Company’s balance sheet is ungeared and maintains a healthy position in liquid assets • Outstanding performance at RAR
Slide 4: Dividends
Dividends 70 Dividend History • Full year dividends of 34 cps fully 60 franked (9.5% yield) 50 40 • Balance sheet remains highly liquid cps and ungeared 30 20 10 0 2006 2007 2008 2009 2010 2011 Interim Final 4
Slide 5: Industry Funds Flows
5 $bn - 2 4 6 8 10 12 -8 -6 -4 -2 -10 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Source: Morningstar Jun-04 Industry Funds Flows Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Australian Managed Funds Industr
Slide 6: Chief Executive Officer
Chief Executive Officer Andrew McGill 6
Slide 7: Financial Results
Financial Results • 2011 revenues lower due to Treasury Group P&L ($m) 2011 2010 % Change lower interest income and reduction in mgmt fees due to Revenue 4.493 5.602 -19.8 changed accounting for Expenses 8.680 8.492 +2.2 Premium Investors revenue • Expenses actually lower after Equity share of assoc
Slide 8: Business Segment Results
Business Segment Results Contribution to FY11 NPAT 14.0 by Business Segment 12.0 11.676 3.409 10.005 10.0 (1.641) 8.0 (2.912) (0.527) $m 6.0 4.0 2.0 0.0 FY10 Australian International Alternative Overhead, FY11 Equities Equities Equities Outsourcing, RE Services 8
Slide 9: Funds Under Management
Funds Under Management Composition of FUM 18 16 Trilogy 14 AR Capital 12 Aubrey 10 Celeste FUM TAAM $bn 8 Global Value Investors 6 RARE Infrastructure 4 Orion 2 Investors Mutual 0 9
Slide 10: Organisational Structure
Organisational Structure Treasury Group Boutique Retail Investments Services Funds Board & Premium Strategic Distribution Investors Support Capital RE, Risk & Investment Compliance Accounting Operations
Slide 11: Business Review – Developments during 2011
Business Review – Developments during 2011 Boutiques • Strong investment performance particularly at Celeste, IML, Aubrey and RARE • Ratings upgrades at IML and Celeste • Strong funds inflows at RARE. Inflows at Celeste. Stable funds levels at Orion • New Funds launched: RARE US Limited Partnership,
Slide 12: Business Review – Developments during 2011
Business Review- Developments during 2011 Treasury Group • Management changes (CEO, TIS MD, Strategy Mgr, European Distribution Executive) • Capital investment into seeding new funds: Sirius Fund (Orion), Aubrey Global Conviction Fund, AR Capital Ascot Cayman Island’s fund, and GVI’s Global Opportun
Slide 13: Strategy Update
Strategy Update • Develop alternative financing solutions for funds GROWTH management parties • Consider corporate acquisition opportunities • Seek out new boutique partnerships in preferred sectors • Proactive management of boutique investments BUSINESS • Invest in Distribution capability • Improve
Slide 14: Formal Items of Business
Formal Items of Business Treasury | Group Ltd
Slide 15: Formal Items of Business: Financial statements and reports
Formal Items of Business Item 1: Financial statements and reports “To receive and consider the Financial Report, the Directors’ Report and the Auditor’s Report for the year ended 30 June 2011” 15
Slide 16: Item 2: Re-election of Mr Peter Kennedy
Formal Items of Business Item 2: Re-election of Mr Peter Kennedy “That Mr Peter Kennedy, a Director retiring by rotation in accordance with the Company’s constitution and offering himself for re-election, be re-elected as a Director of the Company.” Proxies have been received in respect of the resol
Slide 17: Item 3: Adoption of Remuneration Report
Formal Items of Business Item 3: Adoption of Remuneration Report “To adopt the remuneration report forming part of the Directors’ Report for the financial year ended 30 June 2011” Proxies have been received in respect of the resolution as follows: In favour Against Abstention Proxy’s Discretion 7,61
Slide 18: Questions and Answers
Questions and Answers Treasury | Group Ltd
Slide 19: Please join the Board and Management for refreshments
Please join the Board and Management for refreshments
Slide 20: Disclaimer
Disclaimer The information in this presentation is general background information about Treasury Group Limited and is current only at the date of this presentation. In particular, this presentation: • is not an offer or recommendation to purchase or subscribe for securities in Treasury Group Limited