Sparx Group Co., Ltd. · TSE:8739

Sparx — Asian Strategy Meeting 2006

38 slides from Sparx's conference presentation, Apr 26, 2006

  1. Slide 1: Asian Strategy Meeting, April 26, 2006

    2006 4 26

  2. Slide 2: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. 2

  3. Slide 3: PMA Capital Management and Cosmo Investment Management

    © 2006 SPARX Asset Management Co.,Ltd. PMA Capital Management Ltd. (“PMA”) Cosmo Investment Management Co., Ltd. (“Cosmo”) 3

  4. Slide 4: PMA and Cosmo

    © 2006 SPARX Asset Management Co.,Ltd. PMA 80 1 ) * * Cosmo 4

  5. Slide 5: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. … 5

  6. Slide 6: SPARX and PMA

    © 2006 SPARX Asset Management Co.,Ltd. $226.4 SPARX PMA 100% PMA SPARX

  7. Slide 7: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. – – 7

  8. Slide 8: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. 8

  9. Slide 9: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. 9

  10. Slide 10: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. ( ) 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 0 10 20 30 40 50 60 10 ) IMF (2005)

  11. Slide 11: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. 11 2005 12 30

  12. Slide 12: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. – – – 12

  13. Slide 13: PMA and Cosmo

    © 2006 SPARX Asset Management Co.,Ltd. PMA Cosmo , PMA Cosmo / Cosmo PMA 13

  14. Slide 14: © 2006 SPARX Asset Management Co.,Ltd.

    © 2006 SPARX Asset Management Co.,Ltd. ( ( ( 1) Platinum Asset Management (AUM 120 ( 2) AUM ” 61 ( 7,268 ” ” 83 9,764 ) 14 AsiaHedge (February 2006)

  15. Slide 15: PMA and Cosmo

    © 2006 SPARX Asset Management Co.,Ltd. 1) – – ¾ – 2) – ¾ PMA Cosmo – – – 15

  16. Slide 16: PMA and SPARX

    © 2006 SPARX Asset Management Co.,Ltd. PMA SPARX AUM 18% 4% 78% SPARX Cosmo PMA 16 ( SPARX 2005 12 Cosmo, PMA 2006 3 )

  17. Slide 17: PMA

    © 2006 SPARX Asset Management Co.,Ltd. PMA 100.0% 78.3% 50.9% ( Cosmo 30.9%, 39.8 7.6%) 17 ( SPARX 2005 12 Cosmo, PMA 2006 3 )

  18. Slide 18: AUM 1+1+1

    © 2006 SPARX Asset Management Co.,Ltd. 1+1+1 = 3 AUM 50,000 50,000 PMA 40,000 (2006 4 15,000 30,000 (2005 2 ) 20,284 20,000 2,494 900 1,712 4,719 35,000 255 SPARX AUM 10,000 7,679 9,207 16,078 6,743 41.9 ) 7,679 665 8,542 0 18 (

  19. Slide 19: PMA Capital Management, Farhat Malik, CEO

    PMA Capital Management Farhat Malik, CEO April 26, 2006 SPARX Asset Management Co., Ltd. http://www.sparxgroup.com

  20. Slide 20: PMA overview

    © 2006 SPARX Asset Management Co., Ltd. „ PMA 2002 4 „ PMA 22 „ PMA 45 „ PMA 46 „ PMA : 2005 3 31 ) 2

  21. Slide 21: PMA

    © 2006 SPARX Asset Management Co., Ltd. PMA PMA 7 3 „ „ „ „ „ „ „ „ „ „ „ 3 12 3

  22. Slide 22: PMA AUM and fund performance

    © 2006 SPARX Asset Management Co., Ltd. „ PMA 1.0 „ „ PMA AUM PMA YTD Diversified Asian Strategies Oct-02 11.4% 13.4% 68.0% 3.6% 3.5 Asian Diversified Total Return Dec-03 9.4% 9.4% 22.8% 3.7% 1.5 Prospect Fund Nov-03 7.8% 10.1% 27.6% 6.1% 1.1 Credit Opportunities Apr-04 3.4% 8.3% 28.5% 2.3% 4.1 Asia

  23. Slide 23: PMA investor base

    © 2006 SPARX Asset Management Co., Ltd. „ PMA „ PMA „ PMA Staff Asia FoF 1% 36% 2% Japan Government agency 2% 2% Canada Central bank 3% 2% Middle East Pension fund 5% Europe 3% 74% Private bank USA Insurer 16% 14% 3% Financial institution 11% Family office Asset management 14% 12% 5

  24. Slide 24: PMA risk management

    © 2006 SPARX Asset Management Co., Ltd. „ PMA PMA : − − − PMA „ „ „ „ „ ; ) 50% „ P/L „ ) „ „ „ „ „ „ „ Value-at-Risk „ Stop-loss „ „ „ CEO, „ IT „ CEO „ „ 6

  25. Slide 25: Regulation and NAV

    © 2006 SPARX Asset Management Co., Ltd. „ : SFC FSA SEC „ PMA „ „ „ ― NAV ― ― ― 7

  26. Slide 26: SPARX and PMA

    © 2006 SPARX Asset Management Co., Ltd. SPARX PMA „ ― ― ― ― ― „ ― „ ― ― „ 80 8

  27. Slide 27: Cosmo Investment Management Co., Ltd., Kevin Choi

    Cosmo Investment Management Co., Ltd. A member of the SPARX Group Kevin Choi, President & CIO April 26, 2006 COSMO Investment Management Co., Ltd.

  28. Slide 28: Cosmo Investment Management Co., Ltd.

    © 2006 COSMO Investment Management Co.,Ltd. Cosmo Investment Management Co., Ltd. : 1999 6 *AUM (2006 2 28 : 15 1.4 : : 28 2006 2 ) • • • 800+ ( ) - • 14 - 10 ) - / • : - - • * 2

  29. Slide 29: COSMO AUM history

    © 2006 COSMO Investment Management Co.,Ltd. COSMO KOSPI AUM ( ) 1600 1600 1400 2005.10 1400 AUM 10 1200 1200 2005.02 SPARX Group Group 1000 1000 -60% -45% 800 800 2004.06 600 Cheetah Korea 600 Value Fund 2003.12 SPARX Korea 400 L/S Fund Limited 400 2001.03 2001.07 Samsung Life 1999.06 NPC 200 Insura

  30. Slide 30: AUM by client and region

    © 2006 COSMO Investment Management Co.,Ltd. AUM 90 4.7% 6.5% 0.1% 3.0% 3.8% Korea 2.9% Pan Asia Ex-Korea 31.6% Pension 2.3% Middle East Institutional Investors 7.6% America (Caribbean) Fund of Funds Europe HNWI USA Africa 60.7% 76.8% 2005 12 31 *KRW/USD = 1,010 2005 12 31 4

  31. Slide 31: AUM by strategy

    © 2006 COSMO Investment Management Co.,Ltd. AUM COSMO AUM Asset Under Management by Strategy 6% 2% Clientel Strategy (USD million) Index Relative 12% Domestic Index Relative 696.6 Absolute(Long-only) Absolute (Long-only) 321.1 Sub Total 1,017.7 Value 48% 10% Long-Short Offshore Value 151.7 Long-Shor

  32. Slide 32: COSMO Investment Management

    © 2006 COSMO Investment Management Co.,Ltd. / / 800 14 P/L 6

  33. Slide 33: Cosmo investment team

    © 2006 COSMO Investment Management Co.,Ltd. 14 5 Cosmo Cosmo Kevin Choi – 16 President & CIO - Seoul Asset Management & Hyundai Asset Long-Short Management) - 2001 Cosmo 5 Sang-Rae Jo - 17 Fund Manager Index Relative & Value - 16 Justin Kim - Kookmin Bank Asset Management & KLB Fund Manager - Daewoo

  34. Slide 34: COSMO performance versus KOSPI

    © 2006 COSMO Investment Management Co.,Ltd. COSMO +20% KOSPI) +6.6% Index Active KOSPI 450% Index KOSPI Active Relative Strategy 400% 350% 1999.07~ 26.13 65.95 16.43 300% 2000 -36.31 -11.44 -50.92 250% 2001 62.24 68.49 37.47 200% 2002 9.69 16.47 -9.54 150% 2003 41.43 19.89 29.19 100% 50% 2004 5.60 9

  35. Slide 35: Compliance and AITAS system

    © 2006 COSMO Investment Management Co.,Ltd. / - FSS - (SEC) the Investment Advisers Act of 1940 - The AITAS System -5 - - AITAS - - 9

  36. Slide 36: COSMO and SPARX strategy

    © 2006 COSMO Investment Management Co.,Ltd. COSMO 2005 2 SPARX SPARX Cosmo 1 … 1. - AUM - - BD, , IT, 2. - - 3. - - (Korea Long Short, Korea Strategic) 10

  37. Slide 37: AUM by strategy 2005 vs 2006

    © 2006 COSMO Investment Management Co.,Ltd. 2005 3 31 2006 3 31 Long – Short SI Others Others Value ($6.2M) Long – Short ($27.9M) ($93.1M) ($7.3M) ($176.2M) ($42.5M) Value Absolute (Long- Index Relative ($152.0M) Index Relative only) Strategy ($411.5M) ($696.6M) ($149.8M) Absolute (Long- only) Strat

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SPARX Group — Asian Strategy Meeting 2006 on 6ix