Aims Property Securities Fund · ASX:APW
Aims Property Securities Fund — Proxy Contest (December 2016)
9 slides from Aims Property Securities Fund's proxy contest presentation, Dec 20, 2016
Slide 1: ASX Announcement: Independent Director's Letter and the Fund Presentation
20 December 2016 For personal use only ASX Code: APW SGX Code: AIMS Property _________________________________________________________________________________ ASX Announcement AIMS Property Securities Fund Independent Director’s Letter and the Fund Presentation. For your review and consideration, pl
Slide 2: Letter from Independent Directors: Vote AGAINST the resolution
APW is one of Australia’s top performing REITs Vote AGAINST the resolution LETTER FROM INDEPENDENT DIRECTORS For personal use only Dear Unitholders, As you may know, a few minority unitholders (led by Samuel Terry Asset Management – STAM) have requested that the responsible entity call a meeting, to
Slide 3: Vote AGAINST the resolution: wind-up costs, long-term strategy, manager alignment
APW is one of Australia’s top performing REITs Vote AGAINST the resolution Further to the destruction of value are the costs of undertaking the wind up process. APW is a fund of funds and it is in the nature of our structure that we hold units in other funds. The cost of disassembling fund structure
Slide 4: Net Asset Value increased by 56%
PERFORMANCE – NET ASSET VALUE INCREASED BY 56% ► Net Asset Value has grown strongly from $59m to $92m, representing an annual For personal use only growth of 16% (total increase of 56%). The fund has been debt free since 2013. $100.0m $92.2m $88.2m Net Asset Value ($million) $76.7m $75.0m $59.0m $50
Slide 5: NTA per security increased by 75%
PERFORMANCE – NET TANGIBLE ASSET (NTA) PER SECURITY INCREASED BY 75% For personal use only $2.25 $2.02 $2.05 Net Tangible Asset (NTA) per Security ($) $2.00 $1.95 $1.85 $1.75 $1.68 Net Tangible $1.50 Asset per $1.30 Security $1.25 $1.17 (NTA) increased by $1.00 $0.75 75% since 2013 $0.50 $0.25 $- Ju
Slide 6: Share price discount to NTA reduced from 72% to 23%
PERFORMANCE – SHARE PRICE DISCOUNT TO NTA REDUCED FROM 72% TO 23% ► Reduced share price discount to Net Tangible Asset (NTA) from 72% For personal use only in June 2009 to 23% in December 2016 (5 Day VWAP - 1/12/16). Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 0% Share Price Discount to
Slide 7: Share price increased by 134%
PERFORMANCE – SHARE PRICE INCREASED BY 134% $1.80 For personal use only $1.60 $1.40 Share Price ($) $1.20 Share Price increased $1.00 $0.80 134% by since 2013 $0.60 $0.40 $0.20 $- Jun-13 Oct-13 Feb-14 Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 Feb-16 Jun-16 Oct-16 * Historical share prices have been adjuste
Slide 8: Outperformance to the benchmark
PERFORMANCE – OUTPERFORMANCE TO THE BENCHMARK ► Total return has outperformed the S&P/ASX 200 A-REIT total return index For personal use only as of November 2016. 40% Total Return vs S&P/ASX 200 A-REIT (TR) Index 37% 35% as at 30 November 2016 (%) 30% 30% 28% 25% 22% 20% 19% 16% 15% 15% 13% 12% 10%
Slide 9: Dividend yield increased from nil to 5.14%
PERFORMANCE – DIVIDEND YIELD INCREASED FROM NIL TO 5.14% ► Annualised distribution yield increased from nil in 2013 to 5.14% in For personal use only September 2016 at a target payout ratio of 80%. 6.00% Annualised Distribution Yield (%) 5.14% 5.00% 4.50% 3.95% 4.00% 3.00% 2.34% 2.00% 1.00% 0.00% 0.
AIMS Property Securities Fund — Proxy Contest (December 2016) on 6ix