Australian Foundation Investment Co. Ltd. · ASX:AFI
Australian Foundation Investment — Investor Presentation (March 2025)
25 slides from Australian Foundation Investment's investor presentation, Mar 13, 2025
Slide 1: Information Meetings – Presentation
13 March 2025 The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 For personal use only Electronic Lodgement Australian Foundation Investment Company Limited Information Meetings – Presentation Dear Sir / Madam Please find atta
Slide 2: Shareholder Meetings March/April 2025
For personal use only Shareholder Meetings March/April 2025 ASX: AFI ASX: DJW ASX: MIR ASX: AMH
Slide 3: Disclaimer
Disclaimer Australian Foundation Investment Company, Djerriwarrh Investments Limited, Mirrabooka Investments Limited and For personal use only AMCIL Limited and their service provider Australian Investment Company Services Limited (AICS) (AFSL 303209), their related entities and each of their respec
Slide 4: Agenda
Agenda • Overview – Mark Freeman For personal use only • Portfolios: o David Grace - AFIC o Olga Kosciuczyk - Djerriwarrh o Kieran Kennedy - Mirrabooka o Mark Freeman - AMCIL • Closing Remarks – Mark Freeman • Questions Shareholder Meeting March/April 2025 3 3
Slide 5: For personal use only
Diversified Australian and Fully franked yield that is Australian and New High conviction Managing four New Zealand Equities – higher than that available Zealand small/midcap portfolio, strong capital funds with different For personal use only investment objectives capital and fully franked from the
Slide 6: We operate what is called The Traditional LIC Model
We operate what is called The Traditional LIC Model Internally managed – no external funds management business charging separate portfolio fees For personal use only Long term investor in diversified portfolios of quality companies - tax aware with lower portfolio turnover and with lower volatility
Slide 7: AFIC Portfolio and Sector Performance to February 2025
AFIC Portfolio* and Sector Performance to 28 February 2025 12 Month Sector Performance For personal use only * Per annum returns. Assumes the full benefit of franking credits. Past performance is not indicative of future performance. Includes dividends but not franking. Shareholder Meeting March/Apr
Slide 8: Portfolio Set to Perform in Most Economic Settings
Portfolio Set to Perform in Most Economic Settings Growth Companies Stalwarts For personal use only Cyclicals Income Portfolio at 28 February 2025, excludes cash. Shareholder Meeting March/April 2025 7
Slide 9: Banking Sector - Valuations
Banking Sector - Valuations For personal use only Shareholder Meeting March/April 2025 Source FactSet 8
Slide 10: ResMed – the benefit of long-term investing
ResMed – the benefit of long-term investing ResMed - EPS vs Share Price For personal use only Source: ResMed Note: ASX 200 is indexed to company’s share price Source: Diogenes Research Shareholder Meeting March/April 2025 9
Slide 11: Djerriwarrh: Enhanced Yield and Capital Growth - February 2025
Djerriwarrh: Enhanced Yield and Capital Growth - 28 February 2025* Enhanced Dividend Yield Portfolio Per Annum Returns For personal use only *Assumes an investor can take full advantage of the franking credits. Yield based on the interim dividend and final dividend paid – in total 15 cents per share
Slide 12: Portfolio Update: Recent Purchases
Portfolio Update: Recent Purchases For personal use only Dividend per Share Sales revenue $ million Shareholder Meeting March/April 2025 11
Slide 13: Portfolio Update: Summary
Portfolio Update: Summary Constructing a diversified portfolio of high-quality companies across different sectors and with the appropriate balance of Income and Growth is the key for Djerriwarrh to deliver on its Investment Objectives in a variety of market For personal use only conditions. Key Port
Slide 14: Mirrabooka Portfolio Performance – Per Annum Returns to February 2025
Mirrabooka Portfolio Performance – Per Annum Returns to 28 February 2025* For personal use only * Assumes an investor can take full advantage of the franking credits. Mirrabooka's portfolio return is also calculate after management fees, income tax and capital gains tax on realised sales of investme
Slide 15: Investment Portfolio activity – selected material transactions
Investment Portfolio activity* – selected material transactions For personal use only Investment Portfolio purchases – total $46 million Investment Portfolio sales – total $77 million New to the portfolio Exiting the portfolio Addition to existing holding Reduction in ongoing holding *Six months to
Slide 16: Mirrabooka Top Holdings – February 2025
Mirrabooka Top 20 Holdings – 28 February 2025 % of % of Company Portfolio Ownership Period Company Portfolio Ownership Period 1 4.6% 8 yrs 2.6% 7.5 yrs 11 For personal use only 2 4.3% 5 yrs 12* 2.3% 9.5 yrs 3 4.1% 14.5 yrs 13 2.2% 2.5 years 4 3.3% 3 yrs 14 2.1% 4 yrs 5* 3.3% 13.5 yrs 15* 2.0% 7.5 yr
Slide 17: AMCIL Portfolio Performance – Per Annum Returns to February 2025
AMCIL Portfolio Performance – Per Annum Returns to 28 February 2025* For personal use only * Assumes an investor can take full advantage of the franking credits. AMCIL’s portfolio return is also calculated after management fees, income tax and capital gains tax on realised sales of investments. It s
Slide 18: Recent Selected Portfolio Activity
Recent Selected Portfolio Activity* Exited Trimmed Added New For personal use only (Acquired) *Six months to 31 December 2024 Shareholder Meeting March/April 2025 17 17
Slide 19: AMCIL Top Holdings – February 2025
AMCIL Top 20 Holdings – 28 February 2025 % of % of Company Portfolio Ownership Period Company Portfolio Ownership Period 1 8.1% 13 yrs 11 3.2% 5.5 yrs For personal use only 2 6.0% 7 yrs 12 2.8% 3.5 yrs 4.6% 13 3* 6 yrs 2.7% 13 yrs 4 4.5% 21 yrs 14 2.3% 7.5 yrs 5 4.4% 5.5 yrs 15 2.3% 2.5 yrs 6* 4.1%
Slide 20: Key Themes from the Recent Company Reporting Season
Key Themes from the Recent Company Reporting Season • Majority of the companies reported results in line with expectations. For personal use only • Outlook statement and earnings guidance however were on average below market expectations • Cost efficiencies helping to support margins. • Australian c
Slide 21: Where the market is currently trading against the long term
Where the market is currently trading against the long term ASX 200 Index Price Earnings Ratio ASX 200 Index Dividend Yield For personal use only Source: FactSet Shareholder Meeting March/April 2025 20
Slide 22: Where the US market is currently trading against the long term
Where the US market is currently trading against the long term S&P500 Index Price Earnings Ratio S&P500 Index Dividend Yield For personal use only Source: FactSet Shareholder Meeting March/April 2025 21
Slide 23: The case for our LICs over Index ETF's
The case for our LICs over Index ETF’s Closed end fund provides stability of capital which allows for long term investment For personal use only Investments strategies are not influenced by the issuance and redemption of units as they are in open ended structures – better able to take advantage of m
Slide 24: Share price relative to Net Asset Backing – February 2025
Share price relative to Net Asset Backing – 28 February 2025 For personal use only Shareholder Meeting March/April 2025 23
Slide 25: For personal use only
For personal use only 24 May 2024
Australian Foundation Investment Company — Investor Presentation (March 2025) on 6ix