Aj Bell Plc · LSE:AJB
Aj Bell — Witan Investment Trust — Investor Presentation (October 2021)
24 slides from Aj Bell's investor presentation, Oct 7, 2021
Slide 1: Investor Presentation
Investor Presentation 7th October 2021 AJ Bell webinar
Slide 2: Witan in summary
Investor Presentation Witan Investment Trust plc Witan in summary Company Global equity fund using a Actively managed Investment Self-managed by the overview multi-manager approach Company with £2.2bn of gross assets* Witan executive team¹ Independent, Highly experienced Assets held in self-managed
Slide 3: Our strategy
Investor Presentation Witan Investment Trust plc Our strategy 3
Slide 4: Portfolio Structure
Investor Presentation Witan Investment Trust plc Portfolio Structure We select our strategic 75% 25% asset allocation and structure Core portfolio Specialist portfolio our portfolio to offer our shareholders a broad range of investment opportunities (1) (1) using a variety of approaches. Our portfol
Slide 5: Choosing our managers, capital allocation, value creation
Investor Presentation Witan Investment Trust plc Choosing our managers Capital allocation Value creation £ › Executive team and Board The Executive team seeks to We aim to generate add to performance by varying total returns which › Networks, database, due diligence the use of gearing and a range ex
Slide 6: Responsible Investment
Investor Presentation Witan Investment Trust plc Responsible Integration Investment into investment Responsibility decision making Our approach Our Our expectation of our managers is that they will consider all approach Collaboration factors including ESG in seeking to maximise returns. Monitoring W
Slide 7: Manager breakdown as at 31.08.21
Investor Presentation Witan Investment Trust plc Manager breakdown as at 31.08.21 % Core 75 Direct ETF Jennison Holdings Jennison Global 6 Lindenwood Lansdowne Global 20 Latitude Lindsell Train Global 14 Lansdowne GQG Veritas Global 18 WCM Global 11 GMO Artemis UK 6 Artemis Specialist 24 GMO Climate
Slide 8: Portfolio characteristics
Investor Presentation Witan Investment Trust plc Portfolio characteristics 8
Slide 9: Portfolio Characteristics as at 30.06.21
Investor Presentation Witan Investment Trust plc Portfolio Characteristics as at 30.06.21 Key geographic overweight/underweight (%) Witan Benchmark Key sector overweight/underweight (%) Witan Benchmark 55 20 50 45 40 15 35 30 10 25 20 15 5 10 5 0 0 USA UK Euro Asia Jap Oth IT Ind Com CS Fin HC Mat C
Slide 10: Regional breakdown as at 31.08.21
Investor Presentation Witan Investment Trust plc Regional breakdown as at 31.08.21 % Investment Companies North America 39 Other UK 21 Japan N America Europe 17 Asia Asia 7 Japan 3 Other 1 Investment Companies 12 Europe UK Source: BNP Paribas. Total may not sum to 100% due to rounding. 10
Slide 11: Sector breakdown as at 31.08.21
Investor Presentation Witan Investment Trust plc Sector breakdown as at 31.08.21 % Investment Companies Information Information Technology 15 Technology Energy Industrials 13 Utilities Health Care 11 Financials 10 Materials Industrials Communication Services 10 Consumer Staples 9 Consumer Consumer D
Slide 12: Direct Holdings as at 31.08.21
Investor Presentation Witan Investment Trust plc Direct Holdings as at 31.08.21 VH Global BB Biotech NB Distressed Sustainable Debt Weight within Direct Portfolio % Apax Global Alpha 27.4 Schroder Real Apax Global Estate Alpha Princess Private Equity 17.6 Electra Private Equity 12.8 Syncona 11.7 Bla
Slide 13: Top 20 holdings as at 31.08.21
Investor Presentation Witan Investment Trust plc Top 20 holdings as at 31.08.21 % % 1 GMO Climate Change Investment Fund* 3.7 11 Syncona* 1.2 2 Apax Global Alpha* 3.0 12 Diageo 1.2 3 Alphabet 2.0 13 PayPal 1.2 4 Princess Private Equity* 1.9 14 Intuit 1.2 5 Vanguard S&P 500 ETF 1.7 15 Schroder Real E
Slide 14: Corporate information
Investor Presentation Witan Investment Trust plc Corporate information 14
Slide 15: Progressive dividend policy
Investor Presentation Witan Investment Trust plc Progressive dividend policy › 5.45p dividend per share for the full year 2020 6.0 250 5.45 › 2.72p dividend per share for first half 2021 (2020: 5.35 2.68p) 5.0 208 4.70 › 2.3% dividend yield › Supported by £19m from revenue reserves, which 4.20 are n
Slide 16: Contributions from borrowing (% of net assets)
Investor Presentation Witan Investment Trust plc Contributions from borrowing (% of net assets) 2.5% STRUCTURE OF WITAN’S BORROWINGS 2.0% As at 30.06.2021 Issued Rate % Maturity £m 1.5% Secured notes 2015 3.29 2035 21 1.0% 0.5% Secured notes 2015 3.47 2045 54 0.0% Secured notes 2017 2.74 2054 30 -0.
Slide 17: Long-term performance
Investor Presentation Witan Investment Trust plc Long-term performance 17
Slide 18: Long-term performance as at 31.08.21
Investor Presentation Witan Investment Trust plc Long-term performance as at 31.08.21 1 year 3 years 5 years 10 years Witan share price total return % 37.4 20.6 71.6 244.4 Net asset value total return %1 36.2 27.8 71.0 227.7 Benchmark total return %2 25.8 36.1 74.4 202.1 Relative NAV performance % 1
Slide 19: Ten-year Performance history
Investor Presentation Witan Investment Trust plc Ten-year Performance history 360 340 320 300 280 260 240 220 200 180 160 140 120 100 80 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Benchmark NAV Share Price Source: Morningstar to 31.08.2021. Witan’s benchmark is a composite of 85% MSCI AC
Slide 20: Ten-year Discount history
Investor Presentation Witan Investment Trust plc Ten-year Discount history 2 0 -2 -4 -6 -8 -10 -12 -14 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 20 Day Average 1 Year Average Source: Morningstar to 31.08.21 20 Past performance is not a guide to future performance
Slide 21: Individual years’ performance
Investor Presentation Witan Investment Trust plc Individual years’ performance Years to end June Q2 2016 Q2 2017 Q2 2018 Q2 2019 Q2 2020 Q2 2017 Q2 2018 Q2 2019 Q2 2020 Q2 2021 Witan share price total return % 36.2 10.9 0.6 -11.6 34.7 Witan net asset value total return %1 28.0 8.7 2.8 -8.9 37.3 Wita
Slide 22: Outlook
Investor Presentation Witan Investment Trust plc Outlook 22
Slide 23: Outlook
Investor Presentation Witan Investment Trust plc Outlook We believe: Economies reopening Interest rates are near Substantial fiscal Pent-up consumer record lows, policy stimulus spending despite variant makers remain concerns watchful Fiscal investment Prospect of a period BUT – valuations high SO –
Slide 24: Important note
Investor Presentation Witan Investment Trust plc Important note These slides are intended to highlight some key points about Witan Investment Trust plc, for the use of shareholders, analysts and other professional investors. This material is for informational purposes only and does not constitute a
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