Regal Partners Global Investments Limited · ASX:RG1
Regal Partners Global Investments — VGI Partners Global Investments — FY2020 Earnings Presentation
14 slides from Regal Partners Global Investments's earnings presentation, Aug 18, 2020
Slide 1: VGI Partners Global Investments Limited FY20 Investor Briefing
VGI Partners Global Investments Limited (ASX:VG1) FY20 Investor Briefing – 18 August 2020
Slide 2: Summary
Summary • In FY20, VG1 generated a post-tax Net Tangible Assets (NTA) return of -4.3% (after fees) and commenced paying dividends • Post-tax NTA per share was $2.27 as at 30 June 2020 and has since risen +3.8% to $2.36 as at 14 August 20201 • VGI Partners’ Global Strategy has delivered +13.0% p.a. r
Slide 3: VGI Partners The Manager
VGI PARTNERS Global Investments VGI Partners The Manager
Slide 4: VGI Partners (The Manager) Overview
VGI Partners (The Manager) Overview • Specialist manager focusing on global equities. Long Individually Managed biased, concentrated strategy with selective short VGI Managed Funds Accounts (IMAs) selling. Minimal to no leverage utilised • Offices in Sydney, New York and Tokyo Unlisted Listed Unlist
Slide 5: VGI Partners (The Manager) Philosophy and Alignment of Interests
VGI Partners (The Manager) Philosophy and Alignment of Interests Alignment of Interests • All VG1 operating costs (where permitted) paid by the Manager • Founders of VGI Partners reinvest 100% of their pro-rata amount Capital Preservation Do not lose money of VG1 performance fees (after tax) back in
Slide 6: VGI Partners Global Investments Limited (ASX:VG1)
VGI Partners Global Investments Limited (ASX:VG1)
Slide 7: VG1 Net Investment Performance
VG1 Net Investment Performance VG1 Share Price and Post-Tax NTA ($ per share) • Post-tax NTA return of -4.3% in FY20 $2.80 • Post-tax NTA up +3.8% to $2.36 in FY21 to date1 $2.60 $2.40 • A return of +19.5% since inception to date, or +6.4% $2.20 compound annual growth1, with average cash balance of
Slide 8: VG1 Performance Attribution
VG1 Performance Attribution Year to 30 June 2020 FY20 FY20 VG1 NTA Performance Top Long Contributors Long Investments 0.4% Amazon.com Inc. 5.1% Short Positions -5.6% Mastercard Inc. 1.3% Stock Contribution -5.2% La Française des Jeux 0.9% Currency 0.9% Linde plc 0.7% Net Performance (after all fees)
Slide 9: VG1 Portfolio Update
VG1 Portfolio Update as at 31 July 2020 Portfolio Size $920m Month End Exposures Long Portfolio by Location of Exchange Listing Long Equity Exposure 83% Short Equity Exposure (9%) Gross Equity Exposure 92% (83% + 9%) 16% Net Equity Exposure 74% (83% - 9%) Cash Weighting 26% Net Currency Exposure 58%
Slide 10: VG1 Portfolio Update: Top 10 Long Investments
VG1 Portfolio Update as at 31 July 2020 Portfolio Size $920m Listing Domicile Key Regions Business % of Portfolio Top 10 Long Investments Amazon.com Inc. United States Global eCommerce & Internet 16% Mastercard Inc. United States Global Payments 12% CME Group Inc. United States Global Exchanges 6% L
Slide 11: Capital Management and Shareholder Communication Initiatives
Capital Management and Shareholder Communication Initiatives 1. Unchanged Dividend Policy • Two fully franked dividends each year at a level that we expect to maintain and grow over the longer term • Final dividend of 1.5 cents per share announced today, taking full year FY20 dividends to 2.5 cents
Slide 12: Shareholder Engagement
Shareholder Engagement Please elect electronic Quarterly portfolio Investor Letter from Annual national communications to briefings including the Manager in roadshow each stay informed half-year and full- January and July October – will be year results each year virtual this year Monthly NTA AGM in
Slide 13: Questions
VGI PARTNERS Global Investments Questions
Slide 14: Disclaimer
Disclaimer: VGI Partners Limited (ABN 33 129 188 450) (VGI Partners) is the holder of an Australian Financial Services Licence (No. 321789) and is SEC Registered. VGI Partners is the manager of VGI Partners Global Investments Limited (VG1) (ABN 91 619 660 721). The information in this document (Info
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