Fat Prophets Global Contrarian Fund Ltd. · ASX:FPC
Fat Prophets Global Contrarian Fund — Shareholder Meeting (November 2025)
23 slides from Fat Prophets Global Contrarian Fund's shareholder meeting presentation, Nov 5, 2025
Slide 1: Fat Prophets Global Contrarian Fund Ltd
fatPROPHETS GLOBAL CONTRARIAN FUND LTD ee \)\\\
Slide 2: Board of FPC
Board Of FPC INDEPENDENT CHAIRMAN INDEPENDENT DIRECTOR Michael Gallagher Katrina Vanstone For personal use only Mr Michael Gallagher was Katrina has worked in financial appointed Chairman of the markets for 30 years, both in Board in November 2016. Australia and offshore, including Michael has over
Slide 3: Manager Report: Shareholder Information Session
Manager Report For personal use only Shareholder Information Session Chief Investment Officer Angus Geddes Fat Prophets 3
Slide 4: 2025 has been a reasonable year
2025 has been a reasonable year For personal use only ▪ Liberation Day volatility induced in April, gave way to solid rally in global stocks ▪ The US dollar sustained the biggest annual decline since the 1970s ▪ Precious metals made new record highs, gold topped $4400oz ▪ Trade war looks resolved fo
Slide 5: FPC NTA 2021 to 2025
FPC NTA 2021 to 2025 For personal use only Pre-Tax NTA Post-Tax NTA Sept – 2021 $1.3623 $1.2994 Sept – 2022 $0.9491 $1.0146 Sept – 2023 $1.0386 $1.0947 Sept – 2024 $1.2513 $1.2468 Sept – 2025 $1.8874 $1.7136 5
Slide 6: Playbook for the coming year: 2026 outlook
Playbook for the coming year For personal use only 2026 outlook Geopolitical tensions here to US dollar to continue Long term bond yields pose stay downward slide in 2026 a threat in 2026 Japanese equities to Trump Administration has Gold/silver and platinum to continue outperforming +ve and -ve imp
Slide 7: US Dollar Index has a reprieve for now, but downside risks escalate in 2026
US Dollar Index has a reprieve for now, but downside risks escalate in 2026 For personal use only 7
Slide 8: Longer term US fiscal situation could reach a tipping point next year
Longer term US fiscal situation could reach a tipping point next year Secular bear market in bonds has further to go For personal use only 8
Slide 9: Inflation is going down but for how long?
Inflation is going down but for how long? For personal use only 9
Slide 10: Bonds in a secular bear market
For personal use only Bonds in a secular bear market 10
Slide 11: Commodities could surprise in 2026 – Bloomberg Commodity Index poised to breakout
Commodities could surprise in 2026 – Bloomberg Commodity Index poised to breakout For personal use only 11
Slide 12: Copper poised to make new highs
For personal use only Copper poised to make new highs 12
Slide 13: LME copper confirming the bullish setup for spot prices in 2026
LME copper confirming the bullish setup for spot prices in 2026 For personal use only 13
Slide 14: Growth opportunities in China/Hong Kong
Growth opportunities in China/Hong Kong Key benchmarks confirmed a new bull market doubtful – bull markets climb a wall of worry Hang Seng Technology Index climbed a wall of worry this year. For personal use only 14
Slide 15: Gold & Gold miners going through a corrective consolidation
Gold & Gold miners going through a corrective consolidation – bull market to continue soon For personal use only 15
Slide 16: Japan's TOPIX Bank index in a bull market
Japan’s TOPIX Bank index in a bull market For personal use only 16
Slide 17: Silver surged to record highs in '25
Silver surged to record highs in ‘25 For personal use only 17
Slide 18: Platinum exited a multiyear bear market
Platinum exited a multiyear bear market For personal use only 18
Slide 19: Top Holdings in FPC – Sept 2025
Top 10 Holdings in FPC – Sept 2025 For personal use only 19
Slide 20: Geographic Exposure – Sept 2025
Geographic Exposure – Sept 2025 For personal use only 20
Slide 21: Sector Dispersion – Sept 2025
Sector Dispersion – Sept 2025 For personal use only 21
Slide 22: Contact Details
Contact Details For personal use only Fat Prophets Funds Management Fat Prophets Funds Management Investment manager Portfolio Manager Angus Geddes Simon Wheatley CIO Simon.Wheatley@fatprophets.com.au Angus.Geddes@fatprophets.com.au Fat Prophets Global Contrarian Fund Company Michael Gallagher Chair
Slide 23: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Fat Prophets Global Contrarian Fund Limited (FPC). The information contained in this presentation is for information purposes only and has been prepared for use in conjunction with a verbal presentation and should be read in tha
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