Omni Bridgeway Ltd · ASX:OBL
Omni Bridgeway — IMF Bentham — Euroz Rottnest Island Conference 2019
21 slides from Omni Bridgeway's conference presentation, March 2019
Slide 1: Investor Presentation - Euroz Rottnest Island Conference 2019
For personal use only Euroz Rottnest Island Conference 2019 March 2019 Investor Presentation
Slide 2: Overview of IMF
Overview of IMF For personal use only IMF’s strategic focus since FY16 has been to diversify risk in its investments, geography and capital sources. There were only 54 investment in progress at 30 June 16; whereas there are 91 at 31 December 2018. IMF Fast Facts Detail Leading global litigation Li
Slide 3: Industry Background: What is Litigation Funding?
Industry Background For personal use only What is Litigation Funding? Specialty finance – growing rapidly as corporates embrace benefits & law firms unwilling/unable to fund litigation Non-recourse capital for commercial and class action claims Capital pays legal expenses incurred in litigatio
Slide 4: Industry Dynamics
Industry Dynamics For personal use only Total Estimated Addressable Market for United Kingdom Total Estimated Annual Market Legal Spend: $54.9b 74% 26% 13% 86.4% 13.7% 7% Total Estimated Total Estimated Addressable Market Addressable Market for United States for Canada Total Estimated Annual Total E
Slide 5: IMF - Recent Developments
IMF - Recent Developments For personal use only During the first half of FY19, IMF continued with developing the infrastructure and resources necessary to support the execution of its strategic five-year plan, unconstrained by delays during the period in investment completions: Equity Capital ra
Slide 6: IMF's Track Record of Success
IMF’S Track Record of Success For personal use only A$2.3b 2.6 years 90% $871m total recoveries average duration success rate IMF’s revenue 166 A$1.4b 80 184 144% ROIC returns for funded active investments funded 2.4x MOIC Delivering claimants investments to completion results for over 17 years 18 3
Slide 7: Recent Completions By Region (since July 2011)
Recent Completions By Region (since 1 July 2011) For personal use only Success rate # of Average Success rate by $ IRR IRR completed investment by number weighted (excluding (including investments length of cases average ROIC overhead) overhead) Rest of World (balance sheet & RoW Fund 2/3) 64 3.00 8
Slide 8: Balance Sheet Strength
Balance Sheet Strength For personal use only Cash 2 Investments 1,2,3 Net Assets 2 ($ Million) ($ Million) ($ Million) 202.6 218.2 198.8 175.4 38.2 257.8 2.4 10.3 203.9 201.4 192.4 191.1 26.0 185.9 195.1 5.5 180.6 153.1 145.6 142.5 139.4 134.2 130.1 122.5 105.6 99.5 98.6 HY19 FY14 FY15 FY16 FY17 FY1
Slide 9: Commitments, Deployed, Capacity
Commitments, Deployed, Capacity at 31 January 2019 For personal use only US Fund (#1) had committed 89.1% of available capacity. Investment Commitments reflect, generally fixed, capital commitments. There are no conditionally funded or Investment Committee approved but not yet funded investments
Slide 10: Funding Applications
Funding Applications For personal use only Continued to experience high volumes of applications, with FY19 on track to exceed FY18; demonstrating 5 years of growth. Applications are up on 1HFY18, (457 v. 394), and reasonably consistent with 2HY18 (457 v. 472). Strong contributions from new geo
Slide 11: Investments and Commitments
Investments and Commitments For personal use only Growth continuing to be derived from: Increase in number of Investment Managers Maturing offices in North America, Asia and Europe Launch of new product offerings for corporates Increased targets for funding for Investment Managers as a conse
Slide 12: Investment Portfolio at December 2018
Investment Portfolio at 31 December 2018 91 investments For personal use only including 11 Conditionally Funded and Increase in number of investments IC Approved currently funded to 80. investments 3 further investments conditionally funded and 8 investments approved for funding by the Investmen
Slide 13: Diversification by type (31 December 2018)
Diversification by type (31 December 2018) For personal use only Moving from balance sheet investor to via EPV by Investment Type (%) Funds (100% balance sheet June 2016; 26% balance sheet 31 December 2018). 4% 1% Opportunistic investor, so no hard rules on 4% blend of investments, other than 11
Slide 14: Investment Portfolio at December 2018
Investment Portfolio at 31 December 2018 (See notes to Investment Portfolio at 31 December 2018 (slide 18) for further details) For personal use only 2 Posssible completion EPV $M Priority Preferred IMF IMF share of # of capital return capital residual Investments EPV1 FY 2019 FY 2020 FY 2021 + call
Slide 15: IMF Capital Plans
IMF Capital Plans For personal use only Fund IMF has commenced preparation and planning of a new Fund for non-US investments (Fund 5). Investments will propagate this new Fund once the committed capital available in RoW Fund 2/3 has been utilised. As at 31 January, $140m was committed to inves
Slide 16: Strategy
Strategy For personal use only IMF continues to identify opportunities for growth and risk diversification. Item Opportunity Major growth opportunities Focus on development of corporate funding and commercial arbitration in all jurisdictions. Exploring opportunities in Europe including M&A optio
Slide 17: Risk Mitigation
Risk Mitigation For personal use only Risk Potential Impact Strategic Response Portfolio Concentration Potential for a funded case to be lost = IMF investment Deliberate transition from idiosyncratic risk to systemic risk of a portfolio lost and exposure to adverse costs Portfolio represents inc
Slide 18: Notes to the Investment Portfolio at December 2018
Notes to the Investment Portfolio at 31 December 2018 For personal use only Investments Included in Portfolio Possible Completion Periods The Investment Portfolio includes investments for which the IMF Group have The possible completion period is IMF’s current estimate of the period in which entered
Slide 19: Disclaimer
Disclaimer For personal use only The material in this presentation has been prepared by IMF Bentham Limited (IMF) and is general background information about IMF's activities. The information is given in summary form and does not purport to be complete. A number of terms used in this presentatio
Slide 20: For personal use only
For personal use only www.imf.com.au info@imf.com.au 1800 016 464
Slide 21: Notes
For personal use only Notes 21