Brompton Global Healthcare Income & Growth ETF USD Trust · TSX:HIG.U
Brompton Global Healthcare Income & Growth ETF USD Trust — Symphony Floating Rate Senior Loan Fund — Investor Presentation (December 2012)
14 slides from Brompton Global Healthcare Income & Growth ETF USD Trust's investor presentation, December 2012
Slide 1: Symphony Floating Rate Senior Loan Fund
SYM PH ON Y FLOATING RATE SENIOR LOAN FUND December 2012
Slide 2: Symphony Floating Rate Senior Loan Fund
Symphony Floating Rate Senior Loan Fund The information contained herein, while obtained from sources which we believe to be reliable, is not guaranteed as to completeness. This material is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities
Slide 3: Fund overview and outperformance since inception
Symphony Floating Rate Senior Loan Fund Ticker: SSF.UN (Class A) Inception Date: Nov. 1, 2011 Total Portfolio Assets: $171 Million Fund has met all targeted monthly distributions of $0.05833/unit Net Asset Value has grown by $0.41/unit since inception Outperformance Since Inception1 2 All info a
Slide 4: First Priority Position in Capital Structure
First Priority Position in Capital Structure Senior lenders (including the Fund) take security over the assets of the borrower eg. property, plant, equipment, receivables, cash First claim, ahead of all other creditors and equity holders Highest Senior Loans Senior Subordinated Debt Priority o
Slide 5: Consistently Positive Returns
Consistently Positive Returns Senior Loan Index has had positive returns in 19 of last 20 years Returns in 2008 were the result of “forced selling” by highly leveraged investors Leverage is much lower today, greatly reducing the possibility that 2008 performance could be repeated Senior Loan I
Slide 6: Attractive Short Duration Alternative
Attractive Short Duration Alternative High yields especially attractive given low-rate environment Opportunity to diversify & reduce interest rate risk Yield and Duration Comparison High Yield & Low Interest Rate Risk Source: Bloomberg, Credit Suisse, Bank of America Merrill Lynch, Symphony Asse
Slide 7: Fiscal Cliff Considerations – Senior Loans
Fiscal Cliff Considerations – Senior Loans $150B spending cuts and $425B expiring tax cuts scheduled for Y/E 2012 Federal Tax Pre-Cliff Rate Post-Cliff Rate Capital Gains Maximum 15% Maximum 20% Dividend Capital Gains rate Income rate Income Maximum 35% Maximum 39.6% Payroll 4.2% (employee) 6.2% (em
Slide 8: Fiscal Cliff Sector Focus - Healthcare
Fiscal Cliff Sector Focus - Healthcare Budget Control Act of 2011 - sequestration beginning Jan 2, 2013 Automatic budget cancellation amounting to $1.2 trillion over 9 years Intended to force Congress to propose alternative deficit reduction measures $11B Healthcare spending reduction in 2013
Slide 9: Portfolio Characteristics
Portfolio Characteristics Well Diversified 135 issues Portfolio Breakdown Issuers from >20 industries Large & Liquid Investments $400 mill. average facility size Issuers with broad investor following and support from top- tier underwriters Focus on Credit Portfolio is B rated on average
Slide 10: Symphony Asset Management
Symphony Asset Management Symphony founded in 1994; subsidiary of Nuveen, largest US closed end fund manager with $220bn AUM 19-member team manages $9.0bn Senior Loan AUM US-listed closed-end Senior Loan funds sub-advised by Symphony are ranked by Lipper as #1 for performance vs. their peer gr
Slide 11: Portfolio Management
Symphony Portfolio Management Lead Portfolio Manager: Gunther Stein, Chief Investment Officer and Chief Executive Officer: Mr. Stein, Chief Investment Officer and Chief Executive Officer of Symphony, is responsible for Symphony’s fixed-income and equity investments. Mr. Stein joined Symphony in 1999
Slide 12: Credit Investment Team
Symphony Credit Investment Team Gunther Stein CIO and CEO 27 years of experience Credit Portfolio Managers (14 years of experience1) Jenny Rhee Sutanto Widjaja Scott Caraher Ron Yee Himani Trivedi High Yield Opportunistic Credit Senior Loans Convertible Bonds Structured Products Credit Investment Pr
Slide 13: Manager: Brompton Funds
Manager Brompton Funds High standards of business and governance practices to protect investor interests Well-respected, active Independent Review Committee Focus on client friendly features, including annual redemptions at NAV Leading Provider of Specialized Investment Products Leading prov
Slide 14: Symphony Floating Rate Senior Loan Fund
SYM PH ON Y FLOATING RATE SENIOR LOAN FUND December 2012
Symphony Floating Rate Senior Loan Fund — Investor Presentation (December 2012) on 6ix