Katana Capital Ltd. · ASX:KAT
Katana Capital — Shareholder Meeting (November 2020)
18 slides from Katana Capital's shareholder meeting presentation, Nov 12, 2020
Slide 1: Katana Capital Limited AGM Presentation November 2020
For personal use only Katana Capital Limited ASX CODE KAT AGM PRESENTATION NOVEMBER 2020 www.katanaasset.com
Slide 2: Disclaimer
Disclaimer For personal use only The information contained in this presentation is provided to each recipient on the following basis: a. this presentation has been produced by Katana Asset Management (KAM). This presentation does not purport to contain any information that the recipient may require
Slide 3: Overview
Overview For personal use only Key Metrics Katana Profile – Personnel Investment Approach Fund Performance & Outlook www.katanaasset.com 3
Slide 4: Key Metrics
Key Metrics For personal use only FY20 Performance • Gross Investment Return of 9.30% vs Benchmark (All Ords Index) -10.42% • Exceptional out-performance of 19.72% / 2nd highest since inception In Context – 15 Year Performance vs Benchmark • Outperformed the benchmark in 11 out of 15 years Dividends
Slide 5: Katana Profile – Personnel
Katana Profile – Personnel Investment Staff For personal use only Manager – Skills and Experience • Combined direct investment experience of >80 years • Across 3 stock market cycles • Professional Qualifications - economics, business, accounting, investment analysis • Diverse Backgrounds – domestic,
Slide 6: Katana Profile - Personnel: Support Staff & Service Providers
Katana Profile - Personnel Support Staff & Service Providers For personal use only General Address Level 9, The Quadrant Building, 1 William Street, Perth Katana Asset Management Administration Christine Fernandez Rebecca Zaubzer Compliance Jacqui Stewart - GRC Essentials Custodian One Investment Gr
Slide 7: Investment Approach: Philosophy
Investment Approach Philosophy For personal use only Think independently but act in unison with the market, by combining the best precepts of the 5 key investment disciplines: 1. Value Investing 2. Fundamental Analysis 3. Growth Investing 4. Technical Analysis 5. Market Experience and Observation •
Slide 8: Investment Approach: Fund Parameters
Investment Approach Fund Parameters For personal use only Portfolio Overview Portfolio Parameters • Long only • 50-60 individual stock positions • Average position size 1%–5%, with a pre- • ASX listed securities disposition towards holding a greater • Benchmark ‘Unaware’ – i.e. flexibility to maximi
Slide 9: Investment Approach: Decision Process
Investment Approach Decision Process For personal use only 9
Slide 10: Typical portfolio – All-Opportunity
Investment Approach Typical portfolio – “All-Opportunity” For personal use only Historical Characteristics: ~ 5 of the top 10 portfolio holdings in ASX50 Top 10 Investments (KAT) Percentage of Portfolio Valuation as at 31/10/2020 2-3 of the top 10 portfolio holdings in ASX100 2-3 of the top 10 portf
Slide 11: Investment Returns: Out-Performance Since Inception
Fund Performance and Outlook Investment Returns For personal use only Out-Performance Since Inception 1. Inception date Katana Capital January 2006. Returns quoted are gross investment returns for the fund. 2. Past performance is not necessarily indicative of future performance. Source: Katana Asset
Slide 12: Investment Returns: Consistent and Strong Out-Performance
Fund Performance and Outlook Investment Returns For personal use only Consistent and Strong Out- Performance Since inception, Katana Capital’s Gross Investment Return has out- performed the All Ords Index by 6.91% per annum. 1. Inception date Katana Capital January 2006. Returns quoted are gross inv
Slide 13: Dividends
Fund Performance and Outlook Dividends For personal use only Dividend History • Paid dividends every year since listing • Quarterly dividends provide regular cash flow to yield conscious investors • Dividend Reinvestment Plan - company purchases shares on market so no dilution Future Dividends • Kat
Slide 14: Market Outlook
Fund Performance and Outlook Market Outlook For personal use only There are a host of reasons as to why the ASX could fall in the coming 12 months, including but not limited to… Page 14
Slide 15: Market Outlook
Fund Performance and Outlook Market Outlook For personal use only …yet despite all of these (valid) concerns, our base case remains that equities will continue to rise in the coming months and years This is predicated on the dual themes of 1. Liquidity and 2. Necessity Page 15
Slide 16: Market Outlook: Liquidity
Fund Performance and Outlook Market Outlook For personal use only Liquidity • Central Banks globally have ‘printed’ more money more rapidly than at any time in history • The velocity of money is still low, but will increase as confidence returns • An ever increasing supply of money will inflate fini
Slide 17: Market Outlook: Necessity
Fund Performance and Outlook Market Outlook For personal use only Necessity Relative • The differential between cash rates/bond yields and equity yields is the highest on record • This differential far exceeds any rational application of equity risk premium • In a relative sense, advisers and invest
Slide 18: Thankyou
For personal use only If you would like more information Please email enquiries@katanaasset.com Thankyou www.katanaasset.com