Staude Capital Global Value Fund Ltd · ASX:GVF
Staude Capital Global Value Fund — Global Value Fund — IPO Roadshow (2014)
13 slides from Staude Capital Global Value Fund's IPO roadshow presentation, Dec 21, 2014
Slide 1: www.globalvaluefund.com.au
www.globalvaluefund.com.au
Slide 2: Disclaimer
Disclaimer The information contained in this presentation or subsequently provided to the recipient whether orally or in writing by, or on behalf of Global Value Fund Limited (GVF) or any of its directors, officers, employees, agents, representatives and advisers (the Parties) is provided to the rec
Slide 3: Metage has a long track record of finding discounted assets
Metage Capital: Independent London-based investment manager, established Metage has a in 1998. Metage invests globally, managing A$230M on behalf of major international institutions and private individuals. long track record of finding Core Strength: Metage specialises in capturing value from discou
Slide 4: Our core discount capture strategy targets returns
The Global Value Fund Proposition A focus on listed securities which are Our core discount undervalued relative to a defined and observable asset value capture strategy • A discount to “break-up” value targets returns We operate on a comparable with Closed-end funds (CEFs) will form global stage; gl
Slide 5: Passive and active discount capture methods
Discount Capture Strategy Both passive and active strategies Many tools to “crack the nut” • Using proprietary systems we are often able to profit from discounts through passive investment techniques • Examples include: Capitalising on tender offers, buybacks and liquidation events, as well as tradi
Slide 6: Naturally low beta and low correlation to equity markets
Discount Capture Strategy Risk reducing investment Provides access to global financial markets through a portfolio of discounted securities In the hands of a team with a long-track record of capturing value Underlying assets provide exposure to a wide variety of global markets Naturally low and asse
Slide 7: Investment Example 1: Activism in Action
Investment Example 1: Activism in Action Macquarie International Infrastructure Fund Infrastructure CEF (Ticker: MIIF SP) Description Trade History Singapore-listed infrastructure fund with stakes in three The fund was one of our largest positions, accumulated at Asian infrastructure assets – a Taiw
Slide 8: Investment Example 2: Safety in discounted assets
Investment Example 2: Safety in discounted assets Firsthand Technology Value Fund Technology CEF (Ticker: SVVC US) Description Trade History US-listed technology fund with the majority of its NAV in After accumulating 2% of the outstanding shares in the cash. The fund also held stakes in several unl
Slide 9: Recent Investment Opportunities
Recent Investment Opportunities We view the investment opportunity set as highly attractive at present Examples of funds and equities in which we have recently built or are currently building a position include the following. Name Summary Story Fund A Portfolio of US Treasury Acquired at 14% discoun
Slide 10: Track Record
Track Record Metage’s oldest investment vehicle is the Metage Emerging Market Opportunities Fund (MEMO) • MEMO is an open-ended fund with an absolute return mandate. Launched in 2000, its investment portfolio has delivered an annualised US$ return of 18.9% since inception1. MEMO’s investment • MEMO
Slide 11: The rationale for investing offshore
Appendix 1 The rationale for investing offshore: Value not obvious in the local equity market or the Australian dollar Australia relative to World Equity Valuation1 A$ Purchasing Power Parity1 130% 60% 120% Overvalued 40% 110% 100% 20% 90% 80% 0% 70% -20% 60% 50% -40% 2000 2003 2006 2009 2012 Underv
Slide 12: Fund terms
Appendix 2 Fund terms Company Details Proposed Structure Listed Investment Company Incorporated Australia Service Providers Investment Manager Metage Capital Limited Registrar Boardroom Pty Limited Prime Broker/Custodian TBC Auditor Moore Stephens Sydney Company Secretary Mark Licciardo Fund Terms L
Slide 13: Further information
statement? Further information Landline (UK): +44 20 7087 7053 Mobile (Australia): 0423 428 972 miles.staude@globalvaluefund.com.au www.globalvaluefund.com.au