NAOS Ex-50 Opportunities Co. Ltd. · ASX:NAC
NAOS Ex-50 Opportunities — NAOS Emerging Opportunities Company — Q1 FY2016 Earnings Presentation
19 slides from NAOS Ex-50 Opportunities's earnings presentation, Oct 15, 2015
Slide 1: Quarterly Investor Briefing 1st Quarter FY-2016
QUARTERLY INVESTOR BRIEFING 1 ST QUARTER FY-2016 NAOS Emerging Opportunities Company (ASX:NCC)
Slide 2: Call Details
CALL DETAILS 1. Date Thursday 15th October 2. Time 11.00am AEDST 3. Telephone 1800 857 029 4. Guest Access Code 10842873# 5. Questions Please email all questions to enquiries@naos.com.au prior to the allotted call time Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 2
Slide 3: Agenda
AGENDA 1. NCC Review • Key Objectives • Capital Structure • Capital Analysis • Dividend Profile • Performance & Risk Summary • Positive Stock Attribution • Historical Net Equity & Cash Exposure • Industry/Sector Exposure • Sample Company Meetings 2. Market Commentary • Australian Equity Market Revie
Slide 4: 1. NCC Review
1. NCC Review Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 4
Slide 5: Key Objectives/Features: NAOS Emerging Opportunities Company (NCC)
KEY OBJECTIVES/FEATURES: NAOS EMERGING OPPORTUNITIES COMPANY (NCC) • NCC provides investors with long Long Term, Quality Investment Opportunities term, value driven, genuine exposure to the Australian Consumer Resources Emerging Companies (ASX ex- Discretionary 2% Cash and Cash 100) asset class. 0%
Slide 6: Capital Structure
CAPITAL STRUCTURE AS AT 30 TH SEPTEMBER 2015 SHARES ON ISSUE NTA Analysis Pre Tax - $1.05 Pre Tax Pre Unrealised Gains Tax – $1.05 Post Tax - $1.06 Share Price $0.935 Discount to NTA 11% Fully Franked Dividend Yield 6.42% Gross Dividend Yield 9.17% Shares on Issues 46,918,297 Directors Shareholding
Slide 7: Capital Analysis as at 30th September 2015
CAPITAL ANALYSIS AS AT 30 TH SEPTEMBER 2015 NTA (Net of Fees & Expenses, Pre Tax, Reinvested Dividends) Small Ordinaries Accumulation Index (XSOAI) NCC Shareprice, NCCO Option Value, Reinvested Dividends (Excluding Franking Credits) $1.80 $1.60 $1.40 $1.30 $1.20 $1.18 $1.00 $0.90 $0.80 $0.60 $0.40 $
Slide 8: Dividend Profile as at 30th September 2015
DIVIDEND PROFILE AS AT 30 TH SEPTEMBER 2015 $0.04 $0.033 $0.030 $0.030 $0.03 $0.028 $0.025 $0.03 $0.02 $0.02 $0.01 $0.01 $0.00 2nd Half 2013 1st Half 2014 2nd Half 2014 1st Half 2015 2nd Half 2015 Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 8
Slide 9: NCC: Performance & Risk Metrics Summary
NCC: PERFORMANCE & RISK METRICS SUMMARY AS AT 30 TH SEPTEMBER 2015 1 Year 2 Year Inception Inception 1 Month (%) 3 Months (%) 6 Months (%) (%) (% p.a.) (% p.a.) (% Nom.) NCC Investment Portfolio +0.86% -2.79% -4.56% -5.18% +3.80% +15.14% +44.06% Performance* S&P/ASX Small Ordinaries Accumulation Ind
Slide 10: NCC: Positive Stock Attribution Summary Since Inception
NCC: POSITIVE STOCK ATTRIBUTION SUMMARY SINCE INCEPTION AS AT 30 TH SEPTEMBER 2015 Contribution to Return Contribution to Return Investment Investment (% NAV) (% NAV) Calliden Group Limited +10.53% Broadcast Services Australia +5.55% Capitol Health Limited +10.23% Village Roadshow Limited +5.54% Lin
Slide 11: NCC: Portfolio Structure Historical Net Equity and Cash Weightings
NCC: PORTFOLIO STRUCTURE HISTORICAL NET EQUITY AND CASH WEIGHTINGS AS AT 30 TH SEPTEMBER 2015 Net Equity Weighting Cash and Cash Equivalents Weighting Short Exposure 120% 100% 91.44% 80% 60% 40% 20% 7.95% 0% -1.86% -20% -40% Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-1
Slide 12: NCC: Portfolio Structure Allocation by Industry/Sector (Net)
NCC: PORTFOLIO STRUCTURE ALLOCATION BY INDUSTRY/SECTOR (NET) AS AT 30 TH SEPTEMBER 2015 18.13% Media 17.34% Commercial Services 17.01% Telecommunications 16.20% Diversified Financials 13.55% Transport 9.78% Consumer Services Cash and Cash Equivalents 7.95% 1.90% Resources 0.11% Consumer Discretionar
Slide 13: Company Meetings
COMPANY MEETINGS The NAOS investment philosophy is based around the belief that for a company to succeed and generate strong returns for shareholders it must be led by a motivated, proven and experienced management team. NAOS’ Investment Team has direct contact with many listed and unlisted companie
Slide 14: 2. Market Outlook/Commentary
2. Market Outlook/ Commentary Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 14
Slide 15: Market Outlook/Commentary: Australian Equity Market Review
MARKET OUTLOOK/COMMENTARY Australian Equity Domestic equity markets capped off a horror quarter with the ASX-200 finishing down -15% for the three month Market Review period. Poor market performance in September was driven by a number of key economic and market events including; The Federal Reserve
Slide 16: Market Outlook/Commentary: Global Macro Review
MARKET OUTLOOK/COMMENTARY Global Macro Review • MSCI All Country World Index posted its 6th negative month out of the 9 months to 30th September. The index also had its worst quarter since 2011, falling by 9.9% in USD terms, while the S&P 500 temporarily dipped into unofficial correction territory w
Slide 17: 3. Keeping Up to Date
3. Keeping Up to Date Conviction Long Short Investing | Copyright 2015 NAOS Asset Management Limited 17
Slide 18: Keeping Up to Date – Shareholder Communication
KEEPING UP TO DATE – SHAREHOLDER COMMUNICATION WEBSITE • The News and Media section of our website is updated regularly. The most recent information to be added to the site includes: 1. Interview with Mitchell Sneddon of the Eureka Report – discussing aspects of NAOS and NCC. Includes moderated ques
Slide 19: Disclaimer
Disclaimer This presentation has been prepared by NAOS Emerging Opportunities Company Ltd (ACN 161 106 510). The information in this presentation is only intended for Australian residents. The purpose of this presentation is to provide information only and the contents of the presentation doesn’t pu
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