Argo Global Listed Infrastructure Ltd. · ASX:ALI
Argo Global Listed Infrastructure — Shareholder Meeting (October 2020)
18 slides from Argo Global Listed Infrastructure's shareholder meeting presentation, Oct 26, 2020
Slide 1: ASX cover letter: Annual General Meeting presentation
26 October 2020 The Manager For personal use only Company Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000 Annual General Meeting presentation Please find attached the presentation slides which accompany the Chairman’s and Managing Director’s Addresses at today’s Annual General Meeting of
Slide 2: 2020 Annual General Meeting
For personal use only 2020 ANNUAL GENERAL MEETING 26 OCTOBER 2020
Slide 3: Investment objective
For personal use only “Argo Infrastructure's objective is to provide a total return for long-term investors consisting of capital growth and dividend income, from a global listed infrastructure portfolio which can provide diversification benefits for Australian investors.”
Slide 4: 2020 Overview
2020 Overview For personal use only Full year dividends, Portfolio NTA per share* fully franked outperformance^ $2.27 7.5c +3.3% Profit/loss Total assets Shareholders -$9.3m $330m 9,500 * at 30 June 2020 ^ compared to the Company’s benchmark – FTSE Global Core Infrastructure 50/50 Index (A$) 13 Argo
Slide 5: Annual Dividends
Annual Dividends cents per share For personal use only 1.9 1.7 1.3 0.9 0.9 4.5 4.0 3.0 2.5 2.5 2.5 2.5 1.25 1.0 0.5 FY16 FY17 FY18 FY19 FY20 interim final franking credits 14 Argo Infrastructure
Slide 6: Investment Performance to September 2020
Investment Performance to 30 September 2020 8.6% 8.3% For personal use only 7.4% 7.3% 7.0% 6.2% 6.4% 5.8% 4.8% 5.1% 3.3% 2.8% 1 year 3 years (pa) 5 years (pa) since inception (pa) -8.9% -10.2% -11.5% -13.7% Share price Portfolio Benchmark S&P/ASX 200 acc. 15 Argo Infrastructure
Slide 7: Total Returns since inception based on $10,000 invested
Total Returns since inception based on $10,000 invested For personal use only + franking credits + dividends paid Share price $11,928 $11,560 $10,250 2015 2016 2017 2018 2019 2020 16 Argo Infrastructure
Slide 8: Market Outlook
For personal use only MARKET OUTLOOK
Slide 9: Argo Infrastructure Opportunity
Argo Infrastructure Opportunity For personal use only Global diversification Specialist global fund Access infrastructure manager opportunities Proven investment Enhance risk-adjusted Administratively simple approach returns global investing
Slide 10: Infrastructure assets
Infrastructure assets For personal use only Utilities Communications Electricity Wireless towers Gas Satellites Water Renewables Transport Midstream Energy Toll roads Energy Marine ports Transportation Railways Processing Airports Storage 20 Argo Infrastructure
Slide 11: Infrastructure characteristics
Infrastructure characteristics For personal use only Long-life Inflation-linked Stable cash High barriers assets contracts flows to entry 21 Argo Infrastructure
Slide 12: Cohen & Steers
Cohen & Steers For personal use only 1986 New York NYSE (CNS) Founded Headquarters Exchanged listed 300+ A$80b A$10b Employees Funds managed GLI funds managed Global network of investment professionals in New York, Tokyo, Hong Kong, Dublin and London 23 Argo Infrastructure
Slide 13: Market review for infrastructure investors
Market review for infrastructure investors For personal use only Impact of COVID Impact of U.S. Election Outlook 24 Argo Infrastructure
Slide 14: What impact did COVID have on infrastructure fundamentals?
What impact did COVID have on infrastructure fundamentals? U.S Utilities Have Lowest Amount of Guidance Cuts / Suspensions(1) European Toll Roads Recovering Quicker Than Airports Based For personal use only on Y-o-Y Passenger Growth 70% 69% 62% 60% 57% 0% European Toll 52% 45% Road Average 50% -25%
Slide 15: COVID had varied impacts on infrastructure subsectors
COVID had varied impacts on infrastructure subsectors For personal use only Infrastructure Subsector Performance 130 Index Level (Rebased to 100) 120 110 Communications 100 Freight Rails Utilities 90 Marine Ports 80 Toll Roads Midstream 70 Passenger Rails Airports 60 Dec-19 Mar-20 Jun-20 Sep-20 COVI
Slide 16: What are potential effects of the U.S. election?
What are potential effects of the U.S. election? For personal use only U.S. Election At 30 September 2020 27 Argo Infrastructure
Slide 17: What is the outlook for infrastructure?
What is the outlook for infrastructure? For personal use only Utilities Telecommunications Transportation Midstream Energy At 30 September 2020 28 Argo Infrastructure
Slide 18: Investment objective
For personal use only “Argo Infrastructure's objective is to provide a total return for long-term investors consisting of capital growth and dividend income, from a global listed infrastructure portfolio which can provide diversification benefits for Australian investors.”
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