360 Capital Reit · ASX:TOT
360 Capital Reit — 360 Capital Total Return Fund — FY2015 Earnings Presentation
19 slides from 360 Capital Reit's earnings presentation, Aug 26, 2015
Slide 1: 2015 Annual Results Presentation
For personal use only 2015 ANNUAL RESULTS PRESENTATION TOTAL RETURN FUND ASX: TOT 26 AUGUST 2015 360 Capital Investment Management Limited (ACN 133 363 185) as responsible entity for the 360 Capital Total Return Passive Fund (ARSN 602 304 432) and 360 Capital Total Return Active Fund (ARSN 602 303 6
Slide 2: Table of contents
Table of contents For personal use only CONTENTS APPENDICIES 1 Fund background A Management team 2 At a glance 3 What is TOT? Fund structure, etc. 4 Key achievements 5 Profit & loss; balance sheet composition 6 Capital management 7 Investment portfolio 8 Market conditions 9 FY16 key focuses and outl
Slide 3: Fund background
1 Fund background For personal use only WHAT WAS BEHIND THE FUND’S FORMATION? • 360 Capital decided to form TOT as a result of demand from existing 360 Capital platform investors seeking a higher risk/reward investment proposition managed by 360 Capital • 360 Capital’s other managed funds are very r
Slide 4: At a glance
2 At a glance For personal use only PROPERTIES $26.0m $11.2m $12.0m UNDER UNCONDITIONAL of cash as at 30 Direct assets Fund investment CONTRACT FOR June 2015 SALE 9.61%1 2.81cpu +$26.0m LOW ASSET BASE FY16 forecast Income distribution of additional cash TO CAPITALISE ON distribution yield Q4 FY15 &
Slide 5: What is TOT?
3 What is TOT? For personal use only TOT • Unique, ASX listed, opportunistic fund investing in Australian real estate • Deliver 12+% total return p.a. at the investment level via disciplined OBJECTIVES investment in a broad range of real estate opportunities • Capitalise on investments such as: • as
Slide 6: Fund structure & investment universe
3 Fund structure & investment universe For personal use only • TOT stapled entity comprises the 360 Capital Total Return Passive Fund (“TRPF”) and the 360 Capital Total Return Active Fund (”TRAF”) 360 Capital Total Return Passive Fund 360 Capital Total Return Active Fund (ARSN 602 304 432) (ARSN 602
Slide 7: Key achievements
4 Key achievements For personal use only Since April 2015 • Successful IPO and listing on ASX (code: TOT) after raising $40.0m in new equity • Negotiated unconditional contract for sale over the two Frenchs Forest properties as outlined in PDS • Strategic investment in a fund with expectations of >1
Slide 8: Profit & loss analysis
5 Profit & loss analysis For personal use only • Net rental income derived from full year income OPERATING PROFIT FY15 from direct assets at Frenchs Forest ($’000) • unconditionally exchanged post period Net property income 3,390 • Distribution income from fund investment being Distribution income 4
Slide 9: Balance sheet composition
5 Balance sheet composition For personal use only 30 June 2015 • Bank borrowings fully repaid from IPO proceeds BALANCE SHEET ($’000) • Balance of IPO proceeds of $12.0m remain in Cash 12,024 cash and strategic investment in another fund Investment properties 26,000 Fund investment 11,227 Other asse
Slide 10: Capital management
6 Capital management For personal use only • As at 30 June 2015, the Fund has $12.0m in cash as working capital and is debt free • Fund will receive $26.0m back on 30 September 2015 from settlement of Fund’s direct assets • Upon completion of due diligence, the Fund will commit $19.9m of the total c
Slide 11: Investment portfolio
7 Investment portfolio For personal use only DIRECT INVESTMENT PORTFOLIO 8 RODBOROUGH RD FRENCHS FOREST • Fund’s direct portfolio conditionally contracted at time of IPO (subject to rezoning & considered to be relatively high risk) • Post IPO and 360 Capital being appointed responsible entity of the
Slide 12: Investment portfolio (cont.)
7 Investment portfolio (cont.) For personal use only STRATEGIC STAKE IN FUND • Part of the Fund’s investment strategy is to invest opportunistically in other funds • Fund has invested $11.2m in a fund with a portfolio of $400.0m of commercial property assets • Fund forecast to receive a cash distrib
Slide 13: Market conditions
8 Market conditions For personal use only DIRECT MARKET • Passive assets with long leases firmly priced with fundamentals in some markets being mispriced • Assets with value-add potential also generally mispriced but potential to take advantage of special situations • Fund likely to partner in value
Slide 14: FY16 key focuses & guidance
9 FY16 key focuses & guidance For personal use only • Recycle proceeds from direct asset sales and redeploy capital inline with Fund’s investment strategy and 12%+ total return hurdle • Focus on increasing capital and asset base of the Fund now it’s listed FY16 income • Remain disciplined in impleme
Slide 15: Questions?
For personal use only QUESTIONS?
Slide 16: Appendices
For personal use only APPENDICES 16
Slide 17: Management team
A Management team For personal use only KEVIN LOW, FUND MANAGER – TOT Kevin is the Fund Manager for 360 Capital Total Return Fund. He has 10 years’ experience in property investment, development, advisory work and research. Prior to joining 360 Capital, he worked as the Senior Trust Analyst for Mirv
Slide 18: Management team
A Management team For personal use only GLENN BUTTERWORTH, CHIEF FINANCIAL OFFICER – 360 CAPITAL GROUP Glenn is responsible for all 360 Capital’s financial management activities. Prior to joining 360 Capital, Glenn spent 11 years at Mirvac, most recently as Financial Controller of the Investment Div
Slide 19: Disclaimer
Disclaimer For personal use only This presentation has been prepared by 360 Capital Investment Management Limited (ACN 133 363 185, AFSL 340304) as responsible entity of the 360 Capital Total Return Fund (comprising 360 Capital Total Return Passive Fund ARSN 602 304 432 and 360 Capital Total Return
360 Capital Total Return Fund — FY2015 Earnings Presentation on 6ix