Ai Private Opportunities Trust · ASX:AIX
Ai Private Opportunities Trust — Pengana International Equities — H1 FY2022 Earnings Presentation
21 slides from Ai Private Opportunities Trust's earnings presentation, February 2022
Slide 1: Investor presentation: half-year ended 31 December 2021
ASX: PIA AUSTRALIA’S LARGEST INTERNATIONAL ETHICAL LIC Targeting fully-franked dividends, paid quarterly Investor presentation: half-year ended 31 December 2021 Pengana Capital Group Independent Investment Research Recommended 1
Slide 2: Important Information & Disclosures
IMPORTANT INFORMATION & DISCLOSURES This report has been prepared by Pengana Investment Management Ltd (ABN 69 063 081 612, Australian Financial Services Licence No. 219462) (“Pengana”). This report does not contain any investment recommendation or investment advice and has been prepared without tak
Slide 3: Agenda
AGENDA - Corporate overview - Highlights for the half-year - Portfolio update - Harding Loevner overview 3
Slide 4: Pengana International Equities: Corporate Overview
PENGANA INTERNATIONAL EQUITIES CORPORATE OVERVIEW ASX: PIA
Slide 5: Corporate Overview
CORPORATE OVERVIEW PIA is Australia’s largest international ethical LIC trading on the Australian Securities Exchange PIA’s objective is to provide shareholders with: • capital growth from investing in an ethically screened and actively managed portfolio of international businesses, and • regular, r
Slide 6: Responsible Investing: Largest Ethical LIC on the ASX
RESPONSIBLE INVESTING: LARGEST ETHICAL LIC ON THE ASX Environmental, Social, and Governance (ESG) issues can contribute profoundly to the success or failure of our investments. Ethical Screens Pre trade application of Pengana’s Ethical Screens Adult content, alcohol, animal cruelty, fossil fuels
Slide 7: Highlights: Half-year ending December 2021
HIGHLIGHTS HALF-YEAR ENDING 31 DECEMBER 2021 ASX: PIA
Slide 8: Financial Highlights
FINANCIAL HIGHLIGHTS For the half-year ending 31 December 2021 Fully franked dividends • 2021 Final quarter dividend – 1.35 cps paid on 22 September 2021 • 2022 First quarter interim – 1.35 cps paid on 15 December 2021 • 2022 Second quarter interim – 1.35 cps to be paid on 15 March 2022 Net profit a
Slide 9: Sustainable Fully Franked Dividends
SUSTAINABLE FULLY FRANKED DIVIDENDS PIA’s objective is to provide shareholders with capital growth from investing in an ethically screened and actively managed portfolio of global businesses, in addition to providing shareholders with regular, reliable and fully franked dividends FULLY FRANKED DIVID
Slide 10: Highlights
HIGHLIGHTS For the half-year ending 31 December 2021 In the period, share price more closely tracked underlying pre-tax NTA, narrowing to a 5% discount at year end Pre-tax NTA Share Pice $1.70 13.0% Total Shareholder Return $1.60 $1.50 13.9% Total Shareholder Return: $1.40 Grossed up for franking cr
Slide 11: PIA Portfolio Returns
PIA PORTFOLIO RETURNS Growth of $100,000 invested since June 30, 2017 (net, AUD) as of December 31, 2021 Pengana International Equities Limited MSCI World Total Return Index, Net Dividends Reinvested, in A$ $215,000 $195,000 $175,000 $155,000 $135,000 $115,000 $95,000 $75,000 Jun 17 Dec 17 Jun 18 De
Slide 12: Portfolio Update: As at December 2021
PORTFOLIO UPDATE AS AT 31 DECEMBER 2021 ASX: PIA
Slide 13: Top Holdings
TOP HOLDINGS As at 31 December 2021 United States Communication Services ALPHABET INC United States Financials FIRST REPUBLIC BANK United States Financials SVB FINANCIAL GROUP United States Industrials DEERE & CO United States Communication Services AMAZON.COM INC United States Information Technolog
Slide 14: Portfolio Positioning
PORTFOLIO POSITIONING Exposures as at 31 December 2021 GEOGRAPHIC EXPOSURE SECTOR EXPOSURE Under/Over Under/Over Cash Cash Materials Western Europe Energy Africa / Middle East Health Care Real Estate Eastern Europe Consumer Staples Asia Pacific Utilities Communication Services Central Asia Financial
Slide 15: Harding Loevner: Quality & Growth Investment Philosophy
HARDING LOEVENER: QUALITY & GROWTH INVESTMENT PHILOSOPHY Building diversified portfolios of high-quality, growing companies Characteristics of Harding Loevner’s Global Equity model portfolio when compared to the broader market Source: H a r d i n g L o e v n e r , MSCI Inc., FactSet. Data as of Dece
Slide 16: PIA's Investment Team: Harding Loevner
PIA’S INVESTMENT TEAM: HARDING LOEVNER Comments from Harding Loevner in response to recent global market volatility • Harding Loevner strategy has been in place for over 32 years, having successfully navigated volatile markets over this period • The investment team continue a disciplined in approach
Slide 17: Harding Loevner: Strategy Overview
HARDING LOEVNER STRATEGY OVERVIEW ASX: PIA
Slide 18: Investment Strategy
INVESTMENT STRATEGY Decision making producing a distinctive pattern of performance The Harding Loevner Global Equity strategy invests worldwide in high-quality, growing companies. The Global Equity strategy has been consistently applied by Harding Loevner since 1989. Track record indicates the strat
Slide 19: Harding Loevner: Robust Investment Process
HARDING LOEVENER: ROBUST INVESTMENT PROCESS Analysts search the world for companies that meet high quality and sustainable growth criteria, conduct fundamental research, then value and rate their stocks to make them available to PMs for investment. ESG issues are considered in each step of the proce
Slide 20: Harding Loevner Global Equity Performance
HARDING LOEVNER GLOBAL EQUITY PERFORMANCE Growth of $100,000 invested since November 30, 1989 (net, AUD) as of December 31, 2021 $2,000,000 $1.83 million $1,750,000 $1,500,000 $1,250,000 $1.12 million $1,000,000 $750,000 $500,000 $250,000 $0 Dec-89 Dec-92 Dec-95 Dec-98 Dec-01 Dec-04 Dec-07 Dec-10 De
Slide 21: Pengana International Equities Limited (ASX: PIA)
PENGANA INTERNATIONAL EQUITIES LIMITED (ASX: PIA) FOR MORE PENGANA INTERNATIONAL EQUITIES LIMITED ACN 107 462 966 INFORMATION Managed by Pengana Investment Management Limited AFSL 219462 PENGANA.COM / PIA Levels 1, 2 & 3, 60 Martin Place, Sydney, NSW 2000 T: +61 2 8524 9900 E: clientservice@pengana.
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