WAM Research Ltd. · ASX:WAX
WAM Research — Investor Presentation (November 2012)
15 slides from WAM Research's investor presentation, Nov 28, 2012
Slide 1: WAM Research Limited (WAX) Investor Presentation
WAM Research Limited (WAX) Investor Presentation For personal use only November 2012
Slide 2: Executive summary
Executive summary For personal use only • 8.3% increase in the FY2012 fully franked full year dividend to 6.5 cents per share • Annualised FY2012 fully franked dividend yield 7.7%* • Investment Portfolio +19.8% for 12 months to 31 October outperforming the S&P/ASX All Ords Accum by 10 10.9% 9% • Tot
Slide 3: Investment objectives
Investment objectives For personal use only • D Deliver li iinvestors t an iincome stream t iin th the fform off ffully ll franked dividends • Achieve a high real rate of return, comprising both income and capital p g growth, within risk p parameters acceptable p to the directors 3
Slide 4: Dividend Growth
Dividend Growth For personal use only Cents per share 7.0 6.0 5.0 4.0 3.0 20 2.0 1.0 00 0.0 Special fully franked dividend Ordinary fully franked dividend 4
Slide 5: Performance
Performance For personal use only Since Performance 1 Year 3 Years* 5 Years* 1 July 2010* as at 31 October 2012 % %pa p %pa p % pa WAX Investment Portfolio +19.8% +14.4% +9.8% -0.3% S&P/ASX All Ordinaries +8.9% +6.6% +3.5% -3.6% Accumulation Index Outperformance p +10.9% +7.8% +6.3% +3.3% *Investmen
Slide 6: We believe…
We believe… For personal use only • meetings and interviews with company management gives us a deep insight into the ability of management and the growth dynamics of the company • it is vital we know our companies and their management as this gives us a competitive insight into what motivates people
Slide 7: Identifying undervalued growth stocks
Identifying undervalued growth th stocks t k For personal use only Management contact • Over 1,000 company meetings per year Research Driven rating process • Rate management • Rate the industry/position / Qualitative • Forecast two year EPS growth Quantitative • Valuation measure EPS/PE Filtering •
Slide 8: Top growth stocks
Top 10 growth stocks as at 31 October 2012 For personal use only % Gross Company Assets APE AP Eagers Limited 5.7% BRG Breville Group Limited 3.2% AHE Automotive Holdings Group Limited 3.2% NXT NEXTDC Limited 3.1% MFG Magellan Financial Group Limited 3 0% 3.0% ARP ARB Corporation Limited 2.7% RKN Re
Slide 9: Magellan Financial Group Limited (MFG)
Magellan Financial Group Limited (MFG) For personal use only • Listed fund manager with focus on international equities • Current FUM balance of $4.8bn • Recentlyy won a UK mandate of approx. pp $2.3bn AUD • Idea generated from observing continued positive momentum in FUM inflows and industry networ
Slide 10: Webjet Limited (WEB)
Webjet Limited (WEB) For personal use only • Online travel agent • Idea generated from seeing the company at their full year result presentation. Had p y and visited them constantly owned the company y over last 10 yyears • Followed up with several meetings with management • Catalysts included poten
Slide 11: Market Outlook
Market Outlook For personal use only • Further interest rate cuts forecast • Recent sharemarket rally - expansion of price to earnings multiples with earnings revisions coming • European uncertainty continues • US economy recovering, housing market has bottomed • Chi Chinese growth th showing h i si
Slide 12: Investor communication
Investor communication For personal use only ¾ Half yearly investor presentations ¾ Website – wamfunds.com.au ¾ Subscribe for weekly emails – includes market update ¾ Monthly investment update and NTA announcement ¾ Audio casts – monthly ¾ Media – Sky Business, Switzer, CNBC, newspapers, industry ma
Slide 13: Wilson Asset Management in the community
Wilson Asset Management i the in h communityi For personal use only We care deeply about the well-being of the wider community because helping others is part of our culture culture. Recently, Recently we entered a team into the Goulburn to Sydney Cycle Classic which raised over $80,000 for Odyssey H
Slide 14: Questions?
For personal use only Questions? 14
Slide 15: Disclaimer
For personal use only Disclaimer This presentation has been prepared for use in conjunction with a verbal presentation and should be read in that context. Information for the graphs, charts and quoted indices contained in this presentation has been sourced from IRESS Market Technology, WAM Capital L