360 Capital Reit · ASX:TOT
360 Capital Reit — 360 Capital Total Return Fund — H1 2017 Earnings Presentation
11 slides from 360 Capital Reit's earnings presentation, Feb 22, 2017
Slide 1: HY2017 Results Presentation
For personal use only HY2017 Results Presentation TOTAL RETURN FUND ASX: TOT 22 February 2017 360 Capital FM Limited (ACN 090 664 396) as responsible entity for the 360 Capital Total Return Passive Fund (ARSN 602 304 432) and 360 Capital Total Return Active Fund (ARSN 602 303 613) together the 360 C
Slide 2: Table of contents
Table of contents For personal use only HY2017 results presentation 1 At a glance 2 Why invest in TOT? 3 Investment mandate 4 Earnings & distributions 5 Assets & liabilities 6 Current investment portfolio 7 360 Capital business update 8 Outlook & opportunities 2
Slide 3: At a glance
1 At a glance For personal use only 13.0% -3.8% $37.6m IRR on HY17 Total $1.061 Investment in IDR IDR investment Shareholder ASX closing price since acquisition Return $1.31 3.8 cps 4.0 cps Trading Price NTA per Security Distributions Operating Profit -19.1%2 (highly transparent) Discount to NTA 1.
Slide 4: Why invest in TOT?
2 Why invest in TOT? For personal use only Access to opportunistic style real estate investments that are generally only available to major institutions Counter-cyclical investing and the ability to deliver attractive returns during periods of under performance in traditional listed real estate secu
Slide 5: Investment mandate
3 Investment mandate For personal use only TOT is well positioned to take advantage of volatility in real estate and capital markets… Equity Investing Debt Investing Direct Assets Non-bank lending Repositioning / rezoning Stretch senior Mezzanine finance Purposely Broad Mandate Corporate Distressed
Slide 6: Earnings & distributions
4 Earnings & distributions For personal use only • Results skewed across periods as the Fund no longer owns any direct real estate assets HY17 HY16 CHANGE ($m) ($m) • Distribution income increased in line with IDR forecasts Property income - 866 • Statutory EPU lower than Operating EPU due to mtm Di
Slide 7: Assets & liabilities
5 Assets & liabilities For personal use only • Increase in cash as a result of the sale of IDR Units • Decrease in the value of IDR investment due to Dec 16 Jun 16 CHANGE • the sale of 207,043 Units, ($m) ($m) • a decrease in the trading price across periods Cash 1,713 1,094 • The Fund has no debt R
Slide 8: Current investment portfolio
6 Current investment portfolio For personal use only Strategic stake in Industria REIT (ASX:IDR) • TOT has accumulated a $37.6m investment in IDR (a 11.0% ownership stake holding 17.9m IDR Units) • Average entry price of $2.01 per IDR Unit verses $2.10 as at 31 December 2016 (now trading at $2.07) •
Slide 9: Capital business update
7 360 Capital business update For personal use only TGP Opportunistic Investing $200m-$300m Equity Potential Debt Investment (Capital Preservation) General Partner Deal Capital / IP Investment Deal Capital Co-Investment Deal Capital Sponsorship Co-Investment Investment Mandates ASX: TOT Private Equi
Slide 10: Outlook and opportunities
8 Outlook and opportunities For personal use only Outlook Low interest rate environment has led to Investors chasing yield and potentially mispricing risk Recent geopolitical events have led to a sharp increase in bond yields, which may lead to a softening in demand for both direct and indirect
Slide 11: Disclaimer
Disclaimer For personal use only This presentation has been prepared by 360 Capital FM Limited (ACN 090 644 396, AFSL 221974) as responsible entity of the 360 Capital Total Return Fund (comprising 360 Capital Total Return Passive Fund ARSN 602 304 432 and 360 Capital Total Return Active Fund ARSN 60
360 Capital Total Return Fund — H1 2017 Earnings Presentation on 6ix