Katana Capital Ltd. · ASX:KAT
Katana Capital — Shareholder Meeting (November 2010)
14 slides from Katana Capital's shareholder meeting presentation, Nov 30, 2010
Slide 1: Annual General Meeting 2010
For personal use only Annual General Meeting 2010
Slide 2: Disclaimer
Disclaimer For personal use only The information contained in this presentation is provided to each recipient on the following basis: a) this presentation has been produced by Katana Asset Management PL (KAM) This presentation does not purport to contain all the information that the recipient may re
Slide 3: Agenda
Agenda For personal use only • Who We Are • Our Investment Philosophy • Our Track Record • Key Themes Going Forward 3
Slide 4: Who We Are
Who We Are For personal use only • Western Australian based investment management team. • Benchmark unaware long only Australian Equities. • Managing money since 2003 in the private arena and from 2005 in the public arena. • Katana Capital Ltd ( ASX Code : KAT ) managing circa $42m of FUM of which 1
Slide 5: Our Investment Philosophy
Our Investment Philosophy For personal use only “A blind belief in any one system will lead you into the dark” Portfolio Parameters • 50 – 75 individual stock positions • Seek to invest 1 – 3% on average • Mandated maximum position sizes – 12.5% • Cash Position historically 5% - 25% • Significant va
Slide 6: Our Track Record
Our Track Record For personal use only Katana Performance Versus All Ordinaries Accumulation Index as at September 30th 2010 100.00% 80.00% 60.00% 40.00% 20.00% 0.00% M 7 7 M 8 8 M 9 9 M 0 0 N 6 6 M 7 N 7 Ja 7 M 8 N 8 Ja 8 M 9 N 9 9 M 0 10 Se 6 Se 7 Se 8 Se 9 Se 0 0 -0 0 -0 0 -0 0 -0 l-0 0 -0 l-0 0
Slide 7: Our Track Record
Our Track Record For personal use only Katana Capital Ltd has consistently outperformed the market net of fees pre-tax through active stock selection and asset allocation decisions. Calender Calender Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2006 Katana 0.21% 0.72% 1.73% 2.51% 0.78%
Slide 8: The Fund Manager's Track Record
The Fund Manager’s Track Record For personal use only 1 year 3 year 3 year Since Since cumulative cumulative per annum inception inception return return return cumulative per annum return return Katana Asset +12.13% +0.28% +0.09% +70.13% +11.81% Management All Ords +1.73% -19.79% -7.02% +20.31% +3.9
Slide 9: Dividends
Dividends For personal use only Dividends Post the GFC of 2008 the Board and Investment Manager have focused on reinstating a strong dividend policy and have moved to a quarterly dividend cycle. Date Cents Per Share Financial Year 2011 ( to date ) 2.25 Financial Year 2010 2.00 Financial Year 2009 1.
Slide 10: Portfolio Composition
Portfolio Composition For personal use only Current Top 10 Stock Holdings as at 30 September 2010 Good mixture of large cap and growth oriented emerging companies. Stock Value ($) Portfolio (%) Mineral Resources Limited $4,752,000 11.34% Global Construction Services $2,007,500 4.79% BHP Billiton Lim
Slide 11: Portfolio Composition
Portfolio Composition For personal use only Portfolio Holdings By GICS 30 September 2010 Information Energy 12% Technology 3% Consumer Financials 31% Discretionary 1% Health Care 1% Industrials 30% Materials 21% Consumer Staples 1% 11
Slide 12: Looking Forward
Looking Forward For personal use only Key themes going forward • Global activity has primarily been driven by Government stimulus and not underlying economic strength. • In our last update, we were concerned that the level of global public debt may begin to create problems in the coming years and re
Slide 13: Looking Forward
Looking Forward For personal use only Key themes going forward cont… • Management will therefore continue to target a cash balance of 15-20% of AUM to take advantage of any market weakness to deploy as opportunities arise. • In the medium term, management will continue to remain overly exposed to: –
Slide 14: Annual General Meeting 2010
For personal use only Annual General Meeting 2010