NAOS Emerging Opportunities Co. Ltd. · ASX:NCC
NAOS Emerging Opportunities — Q4 FY2015 Earnings Presentation
20 slides from NAOS Emerging Opportunities's earnings presentation, Jul 15, 2015
Slide 1: Quarterly Investor Briefing 4th Quarter FY-2015
For personal use only QUARTERLY INVESTOR BRIEFING 4 TH QUARTER FY-2015 NAOS Emerging Opportunities Company (ASX:NCC)
Slide 2: Call Details
CALL DETAILS For personal use only 1. Date Thursday 16th July 2. Time 11.00am AEST 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 2015 NAOS Asset Man
Slide 3: Agenda
AGENDA For personal use only 1. NCC Review • Why NCC? Our Value Proposition • Capital Structure • Shareholder Return Analysis (IPO Investors) • Dividend Profile • Performance & Positive Stock Attribution Analysis • Portfolio Characteristics & Risk Summary • Historical Net Equity & Cash Exposure • In
Slide 4: 1. NCC Review
For personal use only 1. NCC Review Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 4
Slide 5: Why NCC? Our Value Proposition
WHY NCC? OUR VALUE PROPOSITION For personal use only 1. GENUINE EXPOSURE TO 3. FOCUS ON LONG 5. ABILITY TO HOLD +100% UNDERVALUED EMERGING TERM PERFORMANCE IN CASH COMPANIES • We maintain an Internal • Provides flexibility to be nimble • Regardless of market capitalisation Hurdle Rate of 20% p.a. ov
Slide 6: Capital Structure
CAPITAL STRUCTURE For personal use only SHARES ON ISSUE OPTIONS ON ISSUE NTA Analysis* NCCOA Pre Tax - $1.08 Expiry: 1st August 2015 Pre Tax Pre Unrealised Gains Tax – $1.08 Price Exercisable: $1.13 Post Tax - $1.08 Options Remaining on Issue: 11,789,026 The above NTA calculations do not account for
Slide 7: Shareholders Return Analysis (IPO Investors)
SHAREHOLDERS RETURN ANALYSIS (IPO INVESTORS) AS AT 30 TH JUNE 2015 For personal use only NCC Shareprice, NCCO Option Price, Reinvested Dividends (Excluding Franking Credits) Small Ordinaries Accumulation Index (XSOAI) $140,000 $130,000 $120,000 $110,000 $110,922.55 $100,000 $90,000 $93,517.90 $80,00
Slide 8: Dividend Profile
DIVIDEND PROFILE AS AT 30 TH JUNE 2015 For personal use only $0.04 0.0325 0.03 $0.03 0.0275 0.025 $0.03 $0.02 $0.02 $0.01 $0.01 $0.00 2nd Half 2013 1st Half 2014 2nd Half 2014 1st Half 2015 Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 8
Slide 9: Performance & Positive Stock Attribution Summary
PERFORMANCE & POSITIVE STOCK ATTRIBUTION SUMMARY AS AT 30 TH JUNE 2015 For personal use only 1 Month 3 Months 6 Months 1 Year 2 Year Inception Inception% (%) (%) (%) (%) (% p.a.) (% p.a.) (Nom.) NCC -4.27% -1.81% -1.10% +1.81% +15.73% +18.23% +48.20% S&P/ASX Small Ordinaries -7.77% -4.04% +2.97% +0.
Slide 10: Portfolio Characteristics & Risk Metrics Summary
PORTFOLIO CHARACTERISTICS & RISK METRICS SUMMARY AS AT 30TH JUNE 2015 For personal use only Portfolio Characteristics Total Number of Equity Holdings (Long & Short) 11 Total Number of “Income” Instruments 0 Total Number of Holdings 11 Portfolio Weighted Average Market Capitalisation $85mn Percentage
Slide 11: Portfolio Structure: Historical Net Equity and Cash Weightings
PORTFOLIO STRUCTURE HISTORICAL NET EQUITY AND CASH WEIGHTINGS AS AT 30 TH JUNE 2015 For personal use only Net Equity Weighting Cash and Cash Equivalents Weighting Short Exposure 120% 98.58% 100% 80% 60% 40% 20% 1.42% 0% 0.00% -20% -40% Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 A
Slide 12: Portfolio Structure: Allocation by Industry/Sector
PORTFOLIO STRUCTURE ALLOCATION BY INDUSTRY/SECTOR AS AT 30 TH JUNE 2015 For personal use only 1.42% Cash and Cash Equivalents 1.84% Materials 2.52% Retailing 5.70% Real Estate 10.84% Consumer Services 13.84% Telecommunications 14.10% Transport 15.25% Commercial Services 15.44% Diversified Financials
Slide 13: Company Meetings
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. NAOS’ Investment Team has direct contact with many listed
Slide 14: 2. Market Outlook/Commentary
For personal use only 2. Market Outlook/ Commentary Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 14
Slide 15: Market Outlook/Commentary: Australian Equity Market Review
MARKET OUTLOOK/COMMENTARY For personal use only Australian Equity • We have seen a dramatic pull back in the Australian Equity Market over the past quarter, the majority of Market Review which has been felt over the past 4 weeks. The ASX Small Ordinaries Accumulation Index fell by more than -7.7% fo
Slide 16: Market Outlook/Commentary: Global Macro Review
MARKET OUTLOOK/COMMENTARY For personal use only Global Macro Review • Despite ‘Grexit’ and the recent sell off in China, we have not seen a ‘flight to safety’ by investors. The Cont. traditional ‘safe haven’ of gold fell along with other metals and the Yen and Swiss franc both proved failed to rally
Slide 17: Market Outlook/Commentary: Global Macro Review Cont.
MARKET OUTLOOK/COMMENTARY For personal use only Global Macro Review • The trend for positive economic data continues to come from the US. As the economy approached full Cont. employment officials believe wage growth will start improving and inflation could accelerate towards the Central Bank’s targe
Slide 18: 3. Keeping Up to Date
For personal use only 3. Keeping Up to Date Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 18
Slide 19: Keeping Up to Date – Shareholder Communication
KEEPING UP TO DATE – SHAREHOLDER COMMUNICATION For personal use only WEBSITE • The News and Media section of our website is updated regularly. The most recent information to be added to the site includes: 1. LiveWire Markets Buy/Hold/Sell – where NAOS PM, Ben Rundle, shares his views on four ‘market
Slide 20: Disclaimer
For personal use only Disclaimer This presentation has been prepared by NAOS Emerging Opportunities Company Ltd (ACN 161 106 510). The information in this presentation is only intended for Australian residents. The purpose of this presentation is to provide information only and the contents of the p
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