Lincoln National Corporation · NYSE:LNC
Lincoln National — Lincoln Far East Unit Trust — Q3 2008 Earnings Presentation
10 slides from Lincoln National's earnings presentation, Oct 23, 2008
Slide 1: Lincoln Far East Unit Trust Quarter 3 – Update Meeting
For Professional Advisers only Presentation of Lincoln Far East Unit Trust Quarter 3 – Update Meeting Presented by Fiona Barwick Director of Regional Research Nigel Bliss Senior Portfolio Manager 23 October 2008
Slide 2: Style Summary
STYLE SUMMARY A value approach, emphasising yield and future real growth of dividends Rigorous dividend discount analysis applied consistently across all markets, all sectors and all securities Analysis of central best and worst case analysis on all stocks and all markets Extensive worldwide researc
Slide 3: Defensive Characteristics
DEFENSIVE CHARACTERISTICS 1ST JULY 1999 TO 30 SEPTEMBER 2008 50 41.3 Annualised returns (%) (net of fees) 40 30 Lincoln Far East Unit Trust 20 9.2 10 6.2 M SCI AC Asia Pacific ex-Japan 0 Index 34.5 2.8 -10 UK Retail Price -20 Index -21.3 -30 -32.1 -40
Slide 4: Risk-Reward Comparison
RISK-REWARD COMPARISON 1ST JULY 1999 TO 30 SEPTEMBER 2008 The returns presented in this graph are presented gross of advisory fees and other expenses associated with managing an investment advisory account. Actual returns will be reduced by such fees and expenses.
Slide 5: Equity Market Performance Quarter 3 2008
EQUITY MARKET PERFORMANCE Quarter 3 2008 Local Market Return (%) 3rd Quarter, 2008 Currency GBP Return (%) Change vs. GBP (%) Australia -10.7 -8.2 -18.0 China -25.5 12.1 -16.5 Hong Kong -23.3 12.1 -13.9 India -6.0 2.3 -3.9 Indonesia -24.7 9.2 -17.7 Korea -12.6 -3.2 -15.4 Malaysia -13.5 6.0 -8.3 New
Slide 6: Index Sector Performance Quarter 3 2008
INDEX SECTOR PERFORMANCE Quarter 3 2008 3rd Quarter 2008 Year to date Consumer Discretionary -9.2 -31.4 Consumer Staples -12.1 -22.2 Energy -21.1 -30.4 Financials -10.1 -31.4 Health Care -4.8 -8.1 Industrials -17.7 -40.4 Information Technology -14.6 -24.8 Materials -31.8 -33.4 Telecommunications Ser
Slide 7: Performance Report
PERFORMANCE REPORT Fund1 MSCI AC Asia Pacific UK RPI (%) Ex-Japan Index Net Div. RI2 Quarter 3, 2008 -11.1 -15.2 N/A 1 Year -19.2 -29.1 4.0 3 Year (annualised) 2.5 5.2 3.2 5 Year (annualised) 10.0 12.2 3.1 7 Year (annualised) 12.7 13.3 2.9 Since inception3 11.3 8.7 2.7 (annualised) 1 Fund performanc
Slide 8: Performance Summary Quarter 3 2008
LINCOLN FAR EAST UNIT TRUST PERFORMANCE SUMMARY QUARTER 3, 2008 Performance Contribution % Currency Market Stock Total Return Selection Portfolio Portfolio Ex Japan Fund Ex-Japan Fund Ex-Japan +3.3 +1.6 -16.7 -16.6 +3.2 -11.1 -15.2 Performance Attribution % Relative Currency Relative Market Stock Re
Slide 9: Sector Allocation Quarter 3 2008
SECTOR ALLOCATION Quarter 3 2008 Lincoln Far East Unit Trust MSCI AC Asia Pacific ex % Japan % Consumer Discretionary 6.1 5.2 Consumer Staples 8.9 5.6 Energy 1.3 8.7 Financials 26.6 33.7 Health Care 0.9 1.4 Industrials 12.9 10.3 Information Technology 13.5 11.8 Materials 4.1 11.9 Telecommunications
Slide 10: Country Real Returns
COUNTRY REAL RETURNS 30 September 2008 Estimated “real” annualised market returns (%) sterling Australia 6.3 New Zealand 6.3 Hong Kong 7.6 Singapore 6.7 Korea 5.9 Taiwan 7.5 China 7.5 India 6.0 Malaysia 6.3 Thailand 7.6 Source: MSCI for AC Asia Pacific ex-Japan Index
Lincoln Far East Unit Trust — Q3 2008 Earnings Presentation on 6ix