Whitefield Industrials Limited · ASX:WHF
Whitefield Industrials — Whitefield — Investor Presentation (May 2016)
21 slides from Whitefield Industrials's investor presentation, May 25, 2016
Slide 1: Update May 2016 - Whitefield Limited
For personal use only UPDATE MAY 2016 Listed Investment Company WHITEFIELD LIMITED May 2016 0
Slide 2: Disclaimer
DISCLAIMER For personal use only General, Limited Commentary: This presentation contains information about Whitefield and the markets in which it operates. The presentation is limited in scope and accordingly may not contain all the information necessary for an investor to make an investment decisio
Slide 3: Providing Broad Exposure to Australian Industrial Growth
WHITEFIELD PROVIDING BROAD EXPOSURE TO AUST INDUSTRIAL GROWTH For personal use only Whitefield provides investors with a broad exposure to Australian industrial economic growth, through an efficient structure and an experienced team. • Long Track Record: Established in 1923, Whitefield has a long tr
Slide 4: An Earnings Stream Which Has Grown Over Time
WHITEFIELD AN EARNINGS STREAM WHICH HAS GROWN OVER TIME For personal use only AND WHICH SUPPORTS LONG TERM CAPITAL VALUE Note: Past performance reflects the specific circumstances and decisions that transpired across the time frames shown. Past performance may not be indicative of the future, and sh
Slide 5: The Changing Nature of Australia: A Higher Growth, Affluent Economy
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only Australia is steadily emerging as an affluent, high growth economy, better positioned than many other larger, yet mature countries • Australia has become and is likely to remain a preferred country in which to l
Slide 6: Growth in Housing, Construction, Tourism, Education and Services
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only High population growth, relative affluence and high end corporate activity will see growth in housing, construction, tourism, education, aged care, retail, consumer services, business services, technology and fi
Slide 7: Trends May Continue for Decades and Are Under-recognised
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only These trends may continue for many decades, and are currently under- recognised within investment markets. • The position of Australia as a preferred living destination is likely to continue for many decades. Au
Slide 8: Investment Strategy and Non-Resource Portfolio
THE CHANGING NATURE OF AUSTRALIA A HIGHER GROWTH, AFFLUENT ECONOMY For personal use only Whitefield’s investment strategy and non-resource portfolio are designed to harness these long term trends for the benefit of our shareholders • Whitefield’s portfolio is not invested in the resource or energy s
Slide 9: Recent Outcomes: Earnings - 16.6 CPS
RECENT OUTCOMES EARNINGS – 16.6 CPS For personal use only Underlying dividend momentum (which in turn drives our earnings) was strong during the year, but was masked by special dividends earned in the prior year and adjustments made to the portfolio mix. 8
Slide 10: Recent Outcomes: Dividends
RECENT OUTCOMES DIVIDENDS For personal use only EPS and DPS are now similar 9
Slide 11: Recent Outcomes: Costs
RECENT OUTCOMES COSTS For personal use only Whitefield’s Management Expense ratio (MER) was approximately 0.35% across the last year. Whitefield continues to provide retail investors with one of the lower cost avenues to invest in a managed portfolio of Australian Shares. 10
Slide 12: Management Expenses: Cost / Return / Service Balance
MANAGEMENT EXPENSES COST / RETURN / SERVICE BALANCE For personal use only Large differences in management cost have a material impact over the long term. Small differences have limited impact on value, and where well utilised may assist in the delivery of returns and service. IMPACT OF MANAGEMENT 10
Slide 13: Investment Returns: Short and Long Term Data
INVESTMENT RETURNS SHORT AND LONG TERM DATA For personal use only Outright Returns: A softer year, after 3 very strong years Returns v Index: Returns ahead of industrials benchmark over short and long terms Industrials Tilt: Returns ahead of broad ASX200 over short and long terms Gross of Franking:
Slide 14: Investment Returns: Short and Long Term Data
INVESTMENT RETURNS SHORT AND LONG TERM DATA For personal use only Note: Past performance reflects the specific circumstances and decisions that transpired across the time frames shown. Past performance may not be indicative of the future, and should not be relied upon as a guide or guarantee of futu
Slide 15: Investment Returns: Long Term Data
INVESTMENT RETURNS LONG TERM DATA For personal use only WHF’s accumulated portfolio return over the last 30 years would result in a portfolio value 32% higher than that of the ASX200 (XJOAI), assuming all income was reinvested. WHF’s accumulated share price and dividend returns are higher again (pro
Slide 16: Investment Strategy: A Structured Process to Efficiently Deliver Return
INVESTMENT STRATEGY A STRUCTURED PROCESS TO EFFICIENTLY DELIVER RETURN For personal use only OBJECTIVE Whitefield seeks to own a portfolio giving emphasis to attractively priced, high-quality businesses with a proven or strengthening ability to deliver shareholder value. STRATEGY We utilise a discip
Slide 17: Investment Portfolio as at April 2016
INVESTMENT PORTFOLIO AS AT 30 APRIL 2016 For personal use only The portfolio provides WHITEFIELD LTD investors with exposure to PORTFOLIO SUMMARY AS AT 30TH APRIL 2016 both large and mid capitalisation stocks Value ($m): $411 Sector No. Holdings Weight operating across many No. Holdings: 162 Consume
Slide 18: Investment Portfolio: Top 20 Investments
INVESTMENT PORTFOLIO AS AT 30 APRIL 2016 For personal use only The relative weightings of stocks in the portfolio are in part structured to provide a broad representation of the relative significance of companies and sectors making up the Australian industrial economy. HOLDING TOP 20 INVESTMENTS AS
Slide 19: Investment Portfolio as at April 2016
INVESTMENT PORTFOLIO AS AT 30 APRIL 2016 For personal use only The portfolio carries over 65 overweight and underweight exposures relative to our underlying benchmark providing a high degree of breadth for the delivery of excess returns. 18
Slide 20: Other Corporate Items: Share Purchase Plan
OTHER CORPORATE ITEMS SHARE PURCHASE PLAN For personal use only SHARE PURCHASE PLAN : GENERAL Whitefield has announced a Share Purchase Plan which will be available to existing ordinary shareholders. PRICING Ordinary shareholders on the register at 6 May, 2016 will be able to apply for up to $15,000
Slide 21: Conclusion & Outlook
CONCLUSION & OUTLOOK MAY 2016 For personal use only EARNINGS: The outlook for 2016/17 earnings is unclear at this early stage. We are certainly encouraged by the medium and longer term dynamics for the Australian economy, and have been pleased to see strong earnings momentum in many industrial secto