WAM Active Ltd. · ASX:WAA
WAM Active — Investor Presentation (November 2018)
36 slides from WAM Active's investor presentation, Nov 20, 2018
Slide 1: For personal use only
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Slide 2: Wilson Asset Management 20 years
For personal use only \\ ’ Wilson Asset Management 2,O Making a YEARS difference
Slide 3: November 2018 Shareholder Presentation
For personal use only \\ ’ Wilson | 2.0 Making a Asset Management years difference November 2018 Shareholder Presentation /
Slide 4: Disclaimer
Wilson Asset Management Disclaimer Wilson Asset Management and their related entities and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good faith. However, no warranty (express or implied) is made as t
Slide 5: Is the bull market over?
Wilson Asset Management Is the bull market over? 3,500.00 NOW The longest 3,000.00 running bull market in history 2,000.00 500.00 cee eaRSEBEaSE AR AERERRRESEARERRSEREOEAS pene 8eR S823 BBaeSsSsESES SESE EBRBZES sss ss se 2258 FS 5S SEES SBeFs% 3 8333833 8 8 FFF BESS SssesgsssgsgsssRgRRRgRRggsges Pa
Slide 6: For personal use only
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Slide 7: Stop the retirement tax
a Stop the retirement tax Sign our petition ws, wilsonassetmanagement.com.au/petition =) Make a submission Pay, Sy | ; stoptheretirementtax.com
Slide 8: Investment & management team
Investment & management team » ‘ ; y Geoff Wilsonao Kate Thorley Catriona Burns Matthew Haupt Martin Hickson Oscar Oberg Tobias Yao BSc GMO FFINSIA FAICD BCom CAGAICD BComMAppFinFFINSIA ComGradDipAppFinCFA BBus8CompMAppFin —-_ LLBBBus CFA 8Com CFA . CFA Chairman & Chief Executive Lead Portfolio Lead
Slide 9: For personal use only
For personal use only
Slide 10: USA: The Fed, Trump and trade wars
For personal use only USA The Fed, Trump and trade wars fil. i y 7, / 1 aoe
Slide 11: Inflation, monetary policy, economic growth
Wilson Asset Management Inflation Monetary policy Economic growth OO ( Lower Higher Easier Tighter Weaker Stronger
Slide 12: Valuations: where are we now?
Wilson Asset Management Valuations: where are we now? amazon —
Slide 13: UK & Europe: political uncertainty, trade and Brexit
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Slide 14: Japan: Growth, demographics and governance
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Slide 15: Top holdings
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Slide 16: Are conditions tightening in Australia?
mO5z £ “al oul Are conditions tightening in Australia? -—
Slide 17: Wholesale funding costs
Wilson Asset Management Wholesale funding costs Peak: 212 28 Jun 18 Peak: 2.08 16 Apr 18 % 22 14 6 T T T T T T T T T Jan-17 Mar-17 May-17 Aug-17 Oct-17 Dec-17 Mar-18 May-18 Aug-18 Oct-18 Cash —— 90 Day Bank Bill
Slide 18: Bank funding gap
Wilson Asset Management Bank funding gap 400 45% 360 40% 35% @ 30% 25% 209.5 228.5 20% 15% 10% 5% + 0% ANZ CBA NAB WBC. mmm Variable Housing book Household deposits © —f™— Funding gap
Slide 19: Credit growth
Wilson Asset Management Credit growth 30 25 20 5 10 (%) Housing Personal Business GDP Growth (%) Year on Year Growth Rate for the 12 months ended Aug 2018: Housing Lending 61 9% PersonalLending — - 1.57% Business Lending 4.05% Total Lending 463% Jul 99 Apr 04 Jan 09 Oct 13 Jun 18
Slide 20: China funding costs
Wilson Asset Management China funding costs China short-term ° funding costs (3 months) Back to lows of 2016 4 3 2 1 ) e®#22333 223 28 ee 82 eB egeegeegeeeereeEeEtEe ERR eee > © ® 5S @ S&B FB 823 Fs FSB GER FE B2B EB SEB S$ «§ €& &®& 5 ® 6 6 SF B ® 5 =» 8 ® 3 © & & € F 5 FGF B&B SF FZ G 25 235 °% &@
Slide 21: Activity indicator - Li Keqiang
Wilson Asset Management Activity indicator - Li Keqiang 30 2005 2008 2010 2012 2014 2016 2018
Slide 22: For personal use only
For personal use only
Slide 23: Australian EPS prediction
Wilson Asset Management Australian EPS prediction Projected growth 9 500 3.59% 450 4,00 350 3,00 250 2.00 150 100 050 00 2 g = e 2 2 2 2 = = 2 2 2 2 eS S 2 2 2 e Page 23
Slide 24: WAM Leaders top holdings
Wilson Asset Management W|A|M Leaders Top holdings © amcor | & TREASURY WINE ESTATES AawtOCRet Oil Search BHP jag oan © MACQUARIE NEWCREST MN LeKTED. THE STAR [nl RioTinto @ Woolworths The fresh food peaple Sill W= Wifestpac SOUTHS2 Tabcorp = Wwoodside
Slide 25: For personal use only
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Slide 26: For personal use only
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Slide 27: High valuations fuelled by the tech sector
Wilson Asset Management High valuations fuelled by the tech sector ®0AQO 04006
Slide 28: WAM research-driven top holdings
Wilson Asset Management W|A|M Capital W|A|M Research W|A|M Microcap Top research-driven holdings Accent =" COMMUNITIES a generation development group, Bapcor hi AUSTAL FLEXIGROUP* NONI B : [UU WorleyParsons | Tabcorp - _adairs = HB|PH_ esc sae MYER = (Qscotsnpacine SEVEN WEST MEDIA
Slide 29: Opportunities in the market for those with cash
Oppoitimities iptabne market for those with cast
Slide 30: For personal use only
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Slide 31: WAM market-driven top holdings
Wilson Asset Management W|A|M Capital W|A|M Microcap W|A|M Active Top market-driven holdings PEOPLE cicanaway) WIZE SGH 6% INVESTMENTS. mastermyne Santos Ge =“7 «APN fa ee ourooor PENGANA == amnion INTERNATIONAL EQUITIES UMITED
Slide 32: Investing for the future
Wilson Asset Management Investing for the future Exposure to the equity Two important factors for “Compound interest 2018 market can be an successful investment: is the eighth wonder . WAM Capital excellent long-term of the world. He who investment for a child understands it, earns $150,000 Compound
Slide 33: Benefits of listed investment companies
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Slide 34: Making a difference
Wilson Asset Management Making a difference Six LICs and over $3 billion in shareholder capital for almost 80,000 retail shareholders Committed to philanthropic and advocacy initiatives 11 investment professionals with combined investment experience of more than 140 years Creator and supporter of. ®
Slide 35: For personal use only
For personal use only
Slide 36: Get in touch
wi_- eh Slax Join more than 40,000 weekly readers wilsonassetmanagement.com.au Bs 4 L LE Getin touch 9247 6755