Aims Property Securities Fund · ASX:APW
Aims Property Securities Fund — Proxy Contest (November 2018)
17 slides from Aims Property Securities Fund's proxy contest presentation, Nov 19, 2018
Slide 1: ASX & SGX Announcement: Independent Director's Letter & Brief Fund Presentation
For personal use only 19 November 2018 ASX & SGX Announcement AIMS Property Securities Fund (ASX Code: APW | SGX Code: BVP) Re: Independent Director’s Letter & Brief Fund Presentation Dear Unitholders, As you may know, AIMS Fund Management Limited (AIMS) the responsible entity of AIMS Property Secur
Slide 2: Letter from Independent Directors
For personal use only AIMS Property Securities Fund (APW | BVP) Long Term Upside Excellent Performance LETTER FROM INDEPENDENT DIRECTORS Dear Unitholders, It is with great pleasure that we write to you about the exciting initiatives being undertaken by AIMS Fund Management Limited (Responsible Entit
Slide 3: Why vote for the Strategic Initiatives
For personal use only (b) The Responsible Entity be directed to undertake a strategic review of the investment strategy and investment policy for the Fund to determine whether there are opportunities for the Fund to create further value for Unitholders through: (i) new investment opportunities in th
Slide 4: Why vote against winding up: Turn Around Story
For personal use only 4. Why do the Independent Directors recommend you vote AGAINST the second resolution to wind up the Fund? There are several reasons that we recommend you vote AGAINST the second resolution to wind up the Fund: 1. The turn around story of the Fund; 2. Great track record of the R
Slide 5: Great Track Record
For personal use only 2. Great Track Record Unit Price NTA per Unit UP 170% UP 103% The Fund’s unit price has Increase in NTA per Unit from increase from $0.67 to $1.80 (30 $1.17 to $2.37 (30 June 2013 to June 2013 to 7 November 2018) 30 June 2018) NAV Net Assets UP 79% UP $12.7m Increase in Net Ass
Slide 6: Track record: distributions, debt and total return
For personal use only (b) Distributions were reintroduced in FY 13/14, having been zero in the previous years. (c) Debt was reduced from $47.5 million at the head trust level in 2009 (when AIMS took over management) to zero in 2013. External debt has remained at that level since that time. (d) Over
Slide 7: Discount reduction and investment principles
For personal use only (f) In June 2009, the Fund Unit price traded at a 72% discount to NTA. Since then the Responsible Entity has significantly reduced this gap to its current level of 24% (as at 7 November 2018). (g) The Responsible Entity, observing prudent, conservative and patient investment pr
Slide 8: Weakening Value Through Fire Sale
For personal use only 4. Weakening Value Through Fire Sale (a) A wind up of the Fund will be public information and any disposals initiated by such a wind up would be treated by the market as a fire sale. This will significantly erode the realisable value of the Fund’s assets and any profit. (b) A w
Slide 9: Closing recommendation and signatures
For personal use only For these reasons, we believe it is in the best interests of all unitholders to vote FOR the first resolution and support the Strategic Initiative and to vote AGAINST the second resolution to wind up the Fund. Yours faithfully, ___________________________________ ______________
Slide 10: AIMS Property Securities Fund
For personal use only AIMS PROPERTY SECURITIES FUND APW.ASX BVP.SGX AIMS FUND MANAGEMENT LIMITED | 2018 AIMS PROPERTY SECURITIES FUND | 1
Slide 11: Important Information
IMPORTANT INFORMATION The information in this document (Presentation) has been prepared by AIMS Fund Management Limited (ACN 004 956 558) For personal use only (AIMS) as the responsible entity for the AIMS Property Securities Fund (ARSN 111 442 150) (Fund) as at 15 November 2018. This Presentation h
Slide 12: Alignment with the Unitholders
ALIGNMENT WITH THE UNITHOLDERS For personal use only 45% 40% 40% 39% 37% 36% 35% 35% 31% 30% % Controlled By AIMS 26% 25% 20% 15% 10% 8% 5% 4% 4% 0% Jun 09 Jun 10 Jun 11 Jun 12 Jun 13 Jun 14 Jun 15 Jun 16 Jun 17 Jun 18 Date * The figures in the graph above, do not include units held by the Independe
Slide 13: Performance – Net Asset Value Increased by 79%
PERFORMANCE – NET ASSET VALUE INCREASED BY 79% For personal use only ► Net Asset Value has grown strongly from $59m (as at 30 June 2013) to $106m (as at 30 June 2018), representing an annual growth of 12.4% (total increase of 79%)*. The fund has been debt free since 2013. 120 105.8 100 92.2 93.1 88.
Slide 14: Performance – NTA per Unit Increased by 103%
PERFORMANCE – NET TANGIBLE ASSET (NTA) PER UNIT INCREASED BY 103% For personal use only $2.50 $2.37 $2.09 $2.13 $2.02 $2.05 $2.03 $2.00 $1.95 $1.85 Net Tangible Assets (NTA) / Unit ($) Net $1.68 Tangible $1.50 Asset per $1.30 Unit $1.17 (NTA) increased by $1.00 103% $0.50 since 2013** $0.00 Jun-13 D
Slide 15: Unit Price Discount to NTA Reduced from 72% to 24%
PERFORMANCE – UNIT PRICE DISCOUNT TO NTA REDUCED FROM 72% TO 24% ► Reduced share price discount to Net Tangible Asset (NTA) from 72% in June 2009 to For personal use only 24% (as at 7 November 2018)*. -15% Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Nov-18 -24% -25% -28% Sh
Slide 16: Unit Price Increased by 170%
PERFORMANCE – UNIT PRICE INCREASED BY 170% For personal use only $2.00 $1.80 $1.60 Unit Price Share Price ($) $1.40 increased $1.20 170% by $1.00 since 2013 ( to 7 Nov $0.80 2018)** $0.60 Jun-13 Nov-13 Apr-14 Sep-14 Feb-15 Jul-15 Dec-15 May-16 Oct-16 Mar-17 Aug-17 Jan-18 Jun-18 Nov-18 Date * Histori
Slide 17: Outperformance to the Benchmark
PERFORMANCE – OUTPERFORMANCE TO THE BENCHMARK ► Total return* has significantly outperformed the S&P/ASX 200 A-REIT total return For personal use only index over the past five years. 25% 22.1% 20% Total Return (%) 15% 14.0% 12.0% 10.8% 9.7% 10% 5% 2.9% 0% 2 Years 3 Years 5 Years AIMS Property Securi
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