NAOS Ex-50 Opportunities Co. Ltd. · ASX:NAC
NAOS Ex-50 Opportunities — NAOS Absolute Opportunities Company — Q4 FY2016 Earnings Presentation
24 slides from NAOS Ex-50 Opportunities's earnings presentation, Jul 14, 2016
Slide 1: Quarterly Investor Briefing 4th Quarter FY-2016
For personal use only QUARTERLY INVESTOR BRIEFING 4 TH QUARTER FY-2016 NAOS Absolute Opportunities Company (ASX: NAC)
Slide 2: Call Details
CALL DETAILS For personal use only 1. Date Thursday 14th July 2016 2. Time 10.00am AEDST 3. Telephone 1800 857 029 4. Guest Access Code 10842873# 5. Questions Please email all questions to enquiries@naos.com.au prior to the allotted call time Conviction Long Short Investing | Copyright 2016 NAOS Ass
Slide 3: Agenda
AGENDA For personal use only 1. NAC FY YEAR END REVIEW • Performance & Risk Summary • Stock Contribution (Since Inception) • Return Profile, Positive v Negative Return Months • Capital Analysis: Addressing the Discount • Dividend Profile • Marketing • Director/Shareholder Alignment • Historical Net
Slide 4: 1. NAC Review
For personal use only 1. NAC Review Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 4
Slide 5: NAC: Performance & Portfolio Characteristics Summary
NAC: PERFORMANCE & PORTFOLIO CHARACTERISTICS SUMMARY AS AT 30TH JUNE 2016 For personal use only 1 Month 3 Month 6 Month 1 Year Inception (p.a.) Inception (Nom.) NAC Investment Portfolio -0.53% +8.95% +11.54% +30.14% +24.04% +42.12% Performance* Benchmark (RBA Cash Rate + +0.37% +1.19% +2.40% +4.83%
Slide 6: NAC: Positive Stock Attribution Summary Since Inception
NAC: POSITIVE STOCK ATTRIBUTION SUMMARY SINCE INCEPTION PRE FEES & FRANKING CREDITS, NET OF OPERATING EXPENSES AS AT 30 TH JUNE 2016 For personal use only Positive Stock Attribution Analysis (Attribution is what has contributed to NAC’s performance since Inception of 12th November 2014) Below is a t
Slide 7: NAC: Return Profile, Positive v Negative Months
NAC: RETURN PROFILE, POSITIVE V NEGATIVE MONTHS AS AT 30 TH JUNE 2016 For personal use only 9.00% 7.00% 5.00% 3.00% 1.00% -1.00% -3.00% Gross Return Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 7
Slide 8: NAC Capital Analysis: Addressing the Discount
NAC CAPITAL ANALYSIS: ADDRESSING THE DISCOUNT AS AT 30 TH JUNE 2016 For personal use only NTA ANALYSIS OPTIONS ON ISSUE Pre Tax - $1.19 NACO Post Tax Pre Unrealised Gains – $1.18 Expiry: 30th November 2016 Post Tax - $1.14 Price Exercisable: $1.00 Share Price $1.00 Share Price Discount to NTA (undil
Slide 9: NAC: Historical Dividend Profile
NAC: HISTORICAL DIVIDEND PROFILE AS AT 30 TH JUNE 2016 For personal use only $0.0500 $0.0400 $0.0225 $0.0300 $0.0200 $0.0200 $0.0100 $0.0000 FY-2015 FY-2016 (1st Half) Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 9
Slide 10: NAOS Marketing and Investor Awareness
NAOS MARKETING AND INVESTOR AWARENESS For personal use only • Media Appearances and Press; Switzer, Cuffelinks, Eureka Report, Livewire, AFR, Financial Standard, Sharecafe & Adviser Voice. • CEO Insights, Weekly NAOS Newsletter • Conferences – Australian Shareholders Association National Conference
Slide 11: NAC: Directors Increasing Alignment with Shareholders Since IPO
NAC: DIRECTORS INCREASING ALIGNMENT WITH SHAREHOLDERS SINCE IPO AS AT 13 TH JULY 2016 For personal use only 1,346,275 1,400,000 1,200,000 885,380 1,000,000 800,000 500,000 600,000 465,087 400,000 200,000 137,958 200,000 0 David Rickards Warwick Evans Sebastian Evans IPO Shareholding Shareholding as
Slide 12: NAC: Portfolio Structure Historical Net Equity and Cash Weightings
NAC: PORTFOLIO STRUCTURE HISTORICAL NET EQUITY AND CASH WEIGHTINGS AS AT 30 TH JUNE 2016 For personal use only Net Equity Weighting Cash and Cash Equivalents Weighting Short Exposure Income Instruments 120% 100% 80% 75.26% 60% 40% 20% 17.51% 7.23% 0% -6.42% -20% -40% -60% Conviction Long Short Inves
Slide 13: NAC: Portfolio Structure
NAC: PORTFOLIO STRUCTURE AS AT 30 TH JUNE 2016 For personal use only Net Industry Exposure Geographical Equity Exposure Consumer 22.55% 81.67% Discretionary Australia 75.26% Industrials 18.01% Telecommuni 15.68% cations 0.00% Europe Consumer 11.09% 0.00% Staples Information 3.54% Technology 0.00% Ma
Slide 14: NAC: Company Meetings
NAC: COMPANY MEETINGS For personal use only The NAOS investment philosophy is based around the belief that for a company to succeed and generate strong returns for shareholders it must be led by a motivated, proven and experienced management team. The NAOS’ Investment Team has direct contact with ma
Slide 15: 2. Market Outlook
For personal use only 2. Market Outlook Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 15
Slide 16: Market Outlook: Market Commentary
MARKET OUTLOOK: MARKET COMMENTARY For personal use only • Domestic equity market is being driven by three main factors: • • Record low government bond yields. • Negligible income growth. • Continued weakness in the mining sector, transition away from mining boom. • Market fundamentals today: • ASX-3
Slide 17: Market Outlook: Global Government Bond Yields (5-Year)
MARKET OUTLOOK: GLOBAL GOVERNMENT BOND YIELDS (5 -YEAR) For personal use only Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 17
Slide 18: Market Outlook: ASX-200 Industry Performance FY2016
MARKET OUTLOOK: ASX-200 INDUSTRY PERFORMANCE FY2016 For personal use only Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 18
Slide 19: Market Outlook: Dispersion Creates Potential Opportunities
MARKET OUTLOOK: DISPERSION CREATES POTENTIAL OPPORTUNITIES REGARDLESS OF MARKET MOVEMENTS TOTAL RETURNS FOR FY-2016 For personal use only Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 19
Slide 20: Market Outlook: NAOS Investment Philosophy
MARKET OUTLOOK: NAOS INVESTMENT PHILOSOPHY For personal use only FOCUS ON THE CONTROLLABLE • Focus on companies with existing revenue streams that can fund growth internally. • Focus on companies with the ability to drive revenue and margin growth, revenue growth due to structural thematic growth, n
Slide 21: 3. Keeping Up To Date
For personal use only 3. Keeping Up To Date Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Limited 21
Slide 22: Shareholder Communication: Investor Presentations
SHAREHOLDER COMMUNICATION: INVESTOR PRESENTATIONS For personal use only PLEASE JOIN NAOS FOR OUR LISTED INVESTMENT COMPANY INVESTOR PRESENTATIONS Register your attendance via our website naos.com.au/investor-event-registration Conviction Long Short Investing | Copyright 2016 NAOS Asset Management Li
Slide 23: Shareholder Communication
SHAREHOLDER COMMUNICATION For personal use only CEO Insights, Weekly NAOS Newsletter • Company CEO quotes from the week which detail in our view, some of the most important and prominent industry trends and economic factors impacting their business. Quarterly Shareholder Conference Calls & Monthly I
Slide 24: Disclaimer
For personal use only Disclaimer This presentation has been prepared by NAOS Asset Management Limited (ABN 23 107 624 126, AFSL 273529, “NAML”). The purpose of this presentation is to provide information only; any other use other than informational purposes is disclaimed. The information provided is
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