Fiducian Group Ltd · ASX:FID
Fiducian — Shareholder Meeting (2024)
30 slides from Fiducian's shareholder meeting presentation, 2024
Slide 1: Fiducian Superannuation Service 2024 Annual Member Meeting
Fiducian Superannuation Service 2024 Annual Member Meeting 1
Slide 2: Agenda
Agenda 1. Trustee Director Introductions 2. Chairman’s Update 3. Chief Risk Officer Update 4. Review of Economic Outlook 5. Questions 2
Slide 3: Board of Trustees
Fiducian Superannuation Service Board of Trustees Drew Vaughan (Chairman) Maria-Ann Camilleri Sam Hallab Catherine Lynch Jai Singh Ramani Venkatramani 3
Slide 4: Chairman's Update
Chairman’s Update Drew Vaughan 4
Slide 5: The Fiducian Superannuation Service
Chairman’s Update The Fiducian Superannuation Service • FSS, PSS, AXS, AMFGS, IMS and LWS are “public offer” superannuation funds • Regulated and licensed by the Australian Prudential Regulation Authority • Has a Corporate Trustee • Provides a broad range of investments including diversified and sin
Slide 6: Long Term Fund Growth
Chairman’s Update Long Term Fund Growth June 2015 – June 2024 Source: FSS Annual Financial Statements 6
Slide 7: Investment Products and Performance: Active Moderate Growth
Chairman’s Update Investment Products and Performance Fiducian Active Moderate Growth Portfolio 1 year to Return 10.1% p.a. 30 June 2024 Ranking* 18/121 5 years to Return 5.8% p.a. 30 June 2024 Ranking* 6/107 10 years to Return 7.4% p.a. 30 June 2024 Ranking* 2/85 *Source: Morningstar Direct (refer
Slide 8: Investment Products and Performance: Active Growth
Chairman’s Update Investment Products and Performance Fiducian Active Growth Portfolio 1 year to Return 11.2% p.a. 30 June 2024 Ranking* 51/163 5 years to Return 6.6% p.a. 30 June 2024 Ranking* 18/144 10 years to Return 8.3% p.a. 30 June 2024 Ranking* 4/126 *Source: Morningstar Direct (refer Morning
Slide 9: Restructure of Fiducian Diversified Funds
Chairman’s Update Restructure of Fiducian Diversified Funds Fiducian Capital Stable Fund > Fiducian Active Conservative Growth Portfolio Fiducian Balanced Fund > Fiducian Active Moderate Growth Portfolio Fiducian Growth Fund > Fiducian Active Growth Portfolio Fiducian Ultra Growth Fund > Fiducian Ac
Slide 10: Retirement of General Manager Superannuation
Chairman’s Update Retirement of General Manager Superannuation Ross Martin: Retires in December 2024 after serving as the General Manager Superannuation of the Fund since 2015, including 8 years as a Fund Trustee. Jonathan Green: Joined as the new General Manager Superannuation in December 2024, bri
Slide 11: Conclusion
Chairman’s Update Conclusion The Trustee remains fully committed to providing you, our Members, with service excellence, and thanks you for your continued support. 11
Slide 12: Chief Risk Officer - Superannuation Update
Chief Risk Officer - Superannuation Update Jessica Dass 12
Slide 13: Trustee Focus Areas
Chief Risk Officer - Superannuation Update Trustee Focus Areas • Cyber Security • Modern Day Slavery Legislation • Industry Focus Points • Custodial Arrangements 13
Slide 14: Specialist Outsourced Service Providers: Fiducian Group
Chief Risk Officer - Superannuation Update Specialist Outsourced Service Providers Fiducian Group • Administration and Call Centre • Finance and Accounting • Investment Management • Risk Management • Information Technology • Legal and Compliance 14
Slide 15: Specialist Outsourced Service Providers: External Organisations
Chief Risk Officer - Superannuation Update Specialist Outsourced Service Providers External Organisations • External Auditor (KPMG) • Internal Auditor (Ernst & Young) • Asset Custodian (Citi) • Insurance (TAL) 15
Slide 16: Financial Achievements During the Year (2023/24)
Chief Risk Officer - Superannuation Update Financial Achievements During the Year (2023/24) • Contributions Received $208 million • Rollovers Received $252 million • Number of Members 8,825 • Average Account Balance $295,000 • Benefits Paid (including pensions) $332 million 16
Slide 17: Economic Outlook
Economic Outlook Conrad Burge Executive Chairman Fiducian Investment Management Services 17
Slide 18: Our multi-manager approach
Our multi-manager approach (the Fiducian Active Moderate Growth Portfolio) - 28 underlying managers (same for active conservative growth and active growth portfolios) - wide diversification across sectors, funds and securities 28 different fund manager portfolios through one investment transaction 1
Slide 19: Where to now for the global economy?
Where to now for the global economy? - some policy shifts have already begun • The latest IMF report forecasts solid global growth over the coming year (3.2% after growth of 3.2% in 2024), with growth in the advanced economies more subdued (1.8% in 2025 after 1.8% in 2024). • While, ‘persistent stru
Slide 20: Growth is slowly rising
Growth is slowly rising (latest GDP data as at 30 September 2024) - most economies are out of recession but some only barely - manufacturing indices still mostly very weak • GDP (quarter-on-quarter) GDP (year-on-year) Manufacturing PMIs • US 0.7% 2.7% 51.7 (Jun) 48.8 (Nov) • Euro zone 0.4% 0.9% 45.6
Slide 21: Inflation rates
Inflation rates (as at 31 October 2024) Headline CPI (year-on-year): (monthly) 3-months Core inflation rate (excludes volatile energy & food) • US 2.6% (peak was 9.1% in June 2022) 0.2% 0.6% 3.3% • Euro zone 2.0% (record high was 10.6% in Oct 2022) 0.3% 0.3% 2.7% • Germany 2.0% (10.4% in Oct 2022, h
Slide 22: Global interest rates – now on their way down
Global interest rates – now on their way down - US (4.5% to 4.75%), Euro zone (3.4%), UK (4.75%), Japan (0.25%), Australia (4.35%) - have now peaked 7.5 6.5 Peak? 5.5 Interest Rates (%) 4.5 3.5 2.5 1.5 0.5 -0.5 22
Slide 23: Leading indicators
Leading indicators - economic indicators for the US now improving after post-tightening dip - indicating that the general outlook is improving despite ongoing tight monetary policy A reading above 100 that is rising predicts expansion, above 100 and falling, a downturn; below 100 and falling a slowd
Slide 24: Leading economic indicators
Leading economic indicators - India and China close to longer-term averages - India forecast to continue to grow strongly in 2025, while China is slowing A reading above 100 that is rising predicts expansion, above 100 and falling, a downturn; below 100 and falling a slowdown, below 100 and rising a
Slide 25: Leading economic indicators
Leading economic indicators - indicators in Australia back to trend but economy remains in a per capita recession - despite weakness, RBA is likely to hold interest rates until unemployment rises further A reading above 100 that is rising predicts expansion, above 100 and falling, a downturn; below
Slide 26: What could underpin markets over the coming year?
What could underpin markets over the coming year? • Economic recovery in the major economies appears to be underway • Consumer and business sentiment could rise as interest rates come down • A further steady loosening of monetary policy • Inflation appears to be approaching central bank target range
Slide 27: Questions?
Questions? 27
Slide 28: Thank you for attending the 2024 Annual Member Meeting
Thank you for attending the 2024 Fiducian Superannuation Service Annual Member Meeting 28
Slide 29: Disclaimer
Disclaimer Information in this document and given in the presentation is of a general nature. It is not intended to be, nor does it, constitute financial, legal or tax advice. The views and opinions contained therein are those of the authors as at the date of publication and are subject to change du
Slide 30: Disclaimer
Disclaimer Source: Morningstar Direct. The above peer group rankings have the Morningstar Australia Category Multisector Multisector Growth for the Balanced Funds. © 2024 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or conte