Ausbil Active Dividend Income Fund - Active ETF · ASX:DIVI

Ausbil Active Dividend Income Fund - Active ETF — Ausbil Investment Management — Ausbil Emerging Leaders Webinar (January 2019)

26 slides from Ausbil Active Dividend Income Fund - Active ETF's conference presentation, Jan 23, 2019

  1. Slide 1: Emerging Leaders Update

    Ausbil Investment Management Emerging Leaders Update John Grace – Co-Head of Equities 23 January 2019

  2. Slide 2: Disclaimer

    DISCLAIMER Important information for presentation recipients The information contained in this presentation has been prepared for general use only and does not take into account your personal investment objectives, financial situation or particular needs. Before you make any decision about whether t

  3. Slide 3: Ausbil investment team

    Ausbil investment team Integrated functions within portfolio management PORTFOLIO CONSTRUCTION COMMITTEE JOHN GRACE (17/33) PAUL XIRADIS (22/39) GIAN PANDIT (3/28) Co-Head of Equities CIO / Head of Equities Deputy Head of Equities RESEARCH ECONOMICS MICROCAP GLOBAL SMALLCAPS MASON WILLOUGHBY-THOMAS

  4. Slide 4: Introductory comments

    Introductory comments • Macroeconomic trends unwound over last half of 2018 accelerating in the final quarter • Market reaction to this has been severe but largely as a result of sentiment and not (generally) earnings • Perceptions of an earnings collapse drove many domestic stocks down 30-50% • Loo

  5. Slide 5: Portfolio overview

    Portfolio overview • Over the last two years the Fund was positioned for synchronised global growth, hence overweight to Resources, cyclicals & Industrials, and underweight to bond proxies & defensive sectors (REITs, Utilities, Healthcare) • Within the resources tilt there was a strong active positi

  6. Slide 6: ati

    4 ati i} | ‘on L cement ——_ ———— a — wae i \e aan i Posvnay tame) ii4 2 +3o = +12 = 2 t= t

  7. Slide 7: Q1. On materials / resources overweight

    Q1. On materials / resources overweight 7

  8. Slide 8: Fund weight by sector from 2013 to 2018

    Emerging Leaders Fund Fund weight by sector from 2013 to 2018 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% May-14 May-15 May-16 May-17 May-18 Nov-13 Nov-14 Nov-15 Nov-16 Nov-17 Nov-18 Energy Materials Industrials Consumer Discretionary Consumer Staples Healthcare Financials IT Telecommunication Utili

  9. Slide 9: Emerging Leaders Fund: Attribution CY 2018 vs CY 2017

    Emerging Leaders Fund Attribution CY 2018 vs CY 2017 2018 Attribution Sector Stock 2017 Attribution Sector Stock Attrib Attr. Attr. Attrib bps bps Bps bps Energy +10 +11 Energy +1 -21 Materials -23 -622 Materials +294 +454 Industrials +14 +49 Industrials -24 -69 Consumer Disc. -18 -85 Consumer Disc.

  10. Slide 10: Q2. View on interest rates and exposure to the bond proxies

    Q2. View on interest rates and exposure to the “bond proxies” 10

  11. Slide 11: Fund weight by sector from 2013 to 2018

    Emerging Leaders Fund Fund weight by sector from 2013 to 2018 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% May-14 May-15 May-16 May-17 May-18 Nov-13 Nov-14 Nov-15 Nov-16 Nov-17 Nov-18 Energy Materials Industrials Consumer Discretionary Consumer Staples Healthcare Financials IT Telecommunication Utili

  12. Slide 12: Emerging Leaders Fund: Attribution CY 2018 vs CY 2017

    Emerging Leaders Fund Attribution CY 2018 vs CY 2017 2018 Attribution Sector Stock 2017 Attribution Sector Stock Attrib Attr. Attr. Attrib bps bps Bps bps Energy +10 +11 Energy +1 -21 Materials -23 -622 Materials +294 +454 Industrials +14 +49 Industrials -24 -69 Consumer Disc. -18 -85 Consumer Disc.

  13. Slide 13: Q3. On house prices and the consumer

    Q3. On house prices and the consumer 13

  14. Slide 14: Fund weight by sector from 2013 to 2018

    Emerging Leaders Fund Fund weight by sector from 2013 to 2018 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% May-14 May-15 May-16 May-17 May-18 Nov-13 Nov-14 Nov-15 Nov-16 Nov-17 Nov-18 Energy Materials Industrials Consumer Discretionary Consumer Staples Healthcare Financials IT Telecommunication Utili

  15. Slide 15: Emerging Leaders Fund: Attribution CY 2018 vs CY 2017

    Emerging Leaders Fund Attribution CY 2018 vs CY 2017 2018 Attribution Sector Stock 2017 Attribution Sector Stock Attrib Attr. Attr. Attrib bps bps Bps bps Energy +10 +11 Energy +1 -21 Materials -23 -622 Materials +294 +454 Industrials +14 +49 Industrials -24 -69 Consumer Disc. -18 -85 Consumer Disc.

  16. Slide 16: Q4. Stock specific question on Lynas

    Q4. Stock specific question on Lynas 16

  17. Slide 17: Emerging Leaders Fund: Holdings as at December 2018

    Emerging Leaders Fund Holdings as at 31 December 2018 Major Sector Positions Portfolio Index^ Tilt Largest Active Stock Holdings Portfolio Index^ Tilt % % % % % % Other Metals & Mining 20.6 6.6 +14.0 Downer EDI 4.8 1.5 +3.3 Commercial Services & Supplies 8.4 3.3 +5.1 Tabcorp Holdings 6.0 3.1 +2.9 St

  18. Slide 18: Q5. On the current market bounce

    Q5. On the current market bounce 18

  19. Slide 19: Current portfolio and performance this month

    Emerging Leaders Fund Current portfolio and performance this month Major Sector Positions Portfolio Index^ Tilt Largest Active Stock Holdings Portfolio Index^ Tilt % % % % % % Other Metals & Mining 20.6 6.6 +14.0 Downer EDI 4.8 1.5 +3.3 Commercial Services & Supplies 8.4 3.3 +5.1 Tabcorp Holdings 6.

  20. Slide 20: Q6. On small cap stocks in the portfolio

    Q6. On small cap stocks in the portfolio 20

  21. Slide 21: Attribution for year to December 2018

    Emerging Leaders Fund Attribution for year to 31 December 2018 Contributor Sector Stock Stock Average Attr. Stock Average Attr. Attr. Attr. Contributors Tilt bps Detractors Tilt bps bps Bps Energy +10 +11 Altium OW +140 MetalsX OW -114 Materials -23 -622 Evolution Mining OW +87 Bionomics OW -83 Indu

  22. Slide 22: Q7. On the Electric Vehicle (EV) tilt

    Q7. On the Electric Vehicle (EV) tilt 22

  23. Slide 23: Attribution for year to December 2018

    Emerging Leaders Fund Attribution for year to 31 December 2018 Contributor Sector Stock Stock Average Attr. Stock Average Attr. Attr. Attr. Contributors Tilt bps Detractors Tilt bps bps Bps Energy +10 +11 Altium OW +140 MetalsX OW -114 Materials -23 -622 Evolution Mining OW +87 Bionomics OW -83 Indu

  24. Slide 24: Q8. On the upcoming reporting season

    Q8. On the upcoming reporting season 24

  25. Slide 25: Market metrics vs. Emerging Leaders

    Market metrics vs. Emerging Leaders Leading into the February reporting season FY19 Top 50 Mid Cap 50 Small Ords Emerging Leaders PE 14.1 14.9 16.7 13.6 EPS Growth 6.3% 10.1% 15.5% 11.6% Dividend Yield 5.4% 4.2% 3.6% 4.3% Source: Ausbil, 31 December 2018 25

  26. Slide 26: Thank you!

    Thank you! Please send us any further questions.

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