WAM Research Ltd. · ASX:WAX
WAM Research — Wilson Investment Fund — Investor Presentation (June 2003)
11 slides from WAM Research's investor presentation, Jun 19, 2003
Slide 1: Wilson Investment Fund
Wilson Investment Fund June 2003
Slide 2: Who are we?
Who are we? The same management team, Geoff Wilson, Matthew Kidman and Karl Siegling, that invests the funds of WAM Capital (ASX listed investment company). Performance to date has been 147.2% since listing in August 1999 to the end of May 2003. During the same period the All Ordinaries Accumulation
Slide 3: What are we doing?
What are we doing? Establishing a new listed investment company We have incorporated a new management company called MAM for this purpose. We are raising a minimum of $10.5M anda maximum of $100M Shares will be issued at $1.00 with a one for one option exercisable by December 2004 for $1.00
Slide 4: Reasons for the new fund?
Reasons for the new fund? Medium / Long Term Approach To allow investors to benefit from reduced capital gains tax rates Premiums for Listed Investment Companies
Slide 5: Listed Investment Companies
Listed Investment Companies Pre- Premium Post- Premium Code Name Capitalisation Price Tax / Tax 1 NTA Discount NTA Discount AFI AFIC 2464 $3.36 $3.06 49.8% $2.76 +21.7% Argo ARG Investments 1715 $4.60 $416 +410.6% $3.77 +22.0% Djerriwarrh 3 o DJW Investments 481 $3.37 $2.96 +413.9% $286 +17.8% Milto
Slide 6: Identify Company
Identify Company v Undertake Detailed Research ¥ Visit with Management | | Research Driven Process Investment Driven Process
Slide 7: Research Driven Process
Research Driven Process ¢ Each company is ranked on; — Management — Earnings Growth — Valuation — Industry Position ¢ Emphasis is also placed on a company’s free cash flow and return on equity ¢ Identify a catalyst or event
Slide 8: Investment Driven Process
Investment Driven Process ¢ Each company is ranked on; — Sustainable business model — Track record of dividends — Track record of profits and positive free cash flow — Acceptable financial strength and, — Return on equity ¢ The timing of the purchase will require patience and a medium to long term t
Slide 9: The Board
The Board Geoffrey Wilson — 23 years experience in security industry as a fund manager and stockbroker Matthew Kidman — 9 years experience in the investment industry John Abernethy — 21 years experience in investment markets as a fund manager, company director and corporate advisor Julian Gosse — Co
Slide 10: Wilson Investment Fund Objectives
WILSON INVESTMENT FUND OBJECTIVES * High Real Rate of Return ¢ Preserve Capital * Strong Dividend Flow
Slide 11: This document was created with Win2PDF available at htte:/Avww.daneprairie.com.
This document was created with Win2PDF available at htte:/Avww.daneprairie.com. The unregistered version of Win2PDF is for evaluation of non-commercial use crly.
Wilson Investment Fund — Investor Presentation (June 2003) on 6ix