Pengana Capital Group Ltd. · ASX:PCG
Pengana Capital — Pengana International Equities — H1 2019 Earnings Presentation
18 slides from Pengana Capital's earnings presentation, December 2018
Slide 1: Pengana International Equities Limited Investor presentation: Half-year ending 31 December 2018
PENGANA INTERNATIONAL 31 Dec 2018 EQUITIES LIMITED Investor presentation: Half-year ending 31 December 2018
Slide 2: Company details as at 31 December 2018
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Company details at as 31 December 2018 Investment Manager Pengana Investment Management Limited 100% owned by Pengana Capital Group Limited (ASX: PCG) Net Tangible Assets 31 December 2018 Pre-tax $1.147 Post-tax $1.152 Shares Price at 31 December 2018
Slide 3: Board of Directors
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Board of Directors FRANCIS GOOCH DAVID GROVES INDEPENDENT NON-EXECUTIVE DIRECTOR NON-EXECUTIVE CHAIRMAN JULIAN CONSTABLE RUSSEL PILLEMER INDEPENDENT MANAGING DIRECTOR NON-EXECUTIVE DIRECTOR 3
Slide 4: Overview, Description and Investment Objective
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Overview Investment Description Objective Provides access to the benefits of an actively managed core portfolio of 30-50 ethically To generate long-term consistent screened companies across returns whilst reducing volatility developed and developing gl
Slide 5: Highlights
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Highlights 1 2 3 4 LOSS AFTER TAX FULLY FRANKED TOTAL NET AND EPS HY2019 FINAL DIVIDEND SHAREHOLDER ASSETS RETURN Loss of $6.8 m 3.5 cents per share TSR -6.2% $291.7 m EPS of -2.72 cps Franked at 27.5% comprising: as at 31 December 2018 unchanged from
Slide 6: Capital Structure
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Capital Structure SHARES OPTIONS On issue at 30 June 2017 244,204,945 - Options issued 12 December 2017 - 244,589,252 Options exercised 1,912,878 (1,912,878) DRP shares issued 1,330,799 - On issue at 30 June 2018 247,448,622 242,676,374 Options exercis
Slide 7: Net Tangible Assets (NTA) per Share and Share Price
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Net Tangible Assets (NTA) per Share and Share Price $1.30 $1.30 $1.25 $1.25 $1.20 $1.20 $1.15 $1.15 $1.10 $1.10 $1.05 $1.05 $1.00 $1.00 Jan-18 Jan-18 Jan-18 Jan-18 Jan-18 Feb-18 Feb-18 Feb-18 Feb-18 Mar-18 Mar-18 Mar-18 Mar-18 Apr-18 Apr-18 Apr-18 Apr-
Slide 8: Discount to Net Tangible Assets (NTA)
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Discount to Net Tangible Assets (NTA) Premium/discount of share price to pre-tax NTA from 1 January to 31 December 2018 2.0% 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 % of di
Slide 9: Portfolio Snapshot
PENGANA INTERNATIONAL EQUITIES LIMITED Portfolio Snapshot
Slide 10: Balancing Capital Growth and Preservation of Capital
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Balancing Capital Growth and Preservation of Capital Daily NTA Performance1 < -1.5% NTA Performance1 0% Since Inception 3 months 6 months Since -1% of to to Inception Mandate 31 Dec 18 31 Dec 18 of PIA p.a. p.a. -2% PIA -4.7% -3.3% 5.4% 7.4% -3% Benchm
Slide 11: Contribution Analysis to Gross Portfolio Returns by sector
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Contribution Analysis to Gross Portfolio Returns for the six months to 31 December 2018 (before fees, expenses and tax) SECTOR Av. Weight % Contribution % Financials 12.92 0.76 Health Care 9.27 0.47 Information Technology 5.93 0.01 Consumer Staples 10.
Slide 12: Contribution Analysis by asset type and region
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Contribution Analysis to Gross Portfolio Returns for the six months to 31 December 2018 (before fees, expenses and tax) Asset type Region Asset Av. Weight Contribution Region Av. weight Contribution Cash 14.79% 0.20% Africa / Middle 0.98% 0.44% East Op
Slide 13: Investment Performance of PIA
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Investment Performance of PIA 1 PIA Six months to Financial Year to Since Inception of Since Inception of Performance 2 31 December 2018 30 June 2018 Mandate 3 PIA 3 Company -3.3% 11.9% 5.4% 7.4% Benchmark -4.6% 15.4% 6.6% 6.6% Relative 1.3% -3.5% -1.2
Slide 14: Sector breakdown
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Sector breakdown as at 31 December 2018 SECTOR TOTAL % INDEX % Financials 17.48 16.2 Consumer Discretionary 11.34 10.44 Industrials 11.16 10.93 Health Care 10.42 13.36 Consumer Staples 9.77 8.65 Communication Services 9.61 8.29 Materials 8.47 4.61 Info
Slide 15: Geography and Market Capitalisation
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Geography and Market Capitalisation as at 31 December 2018 GEOGRAPHY MARKET-CAP 41.60% 44.69% 26.60% 20.12% 13.47% 13.82% 12.42% 13.82% 10.19% 1.68% 0.79% 0.79% North Europe ex- Emerging UK Options Net Cash Under 5b 5b - 10b 10b - 100b Above 100b Optio
Slide 16: Current Portfolio Positioning
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Current Portfolio Positioning 1 2 GEOGRAPHIC EXPOSURE INDUSTRY AND SECTOR EXPOSURE • Underweight US and Japan • 42% large-caps exposure • Overweight Europe and China • 24% small or mid-caps exposure • No Latin American or Africa • 20% mega-caps exposur
Slide 17: Stay connected
PENGANA INTERNATIONAL EQUITIES LIMITED ASX: PIA Stay connected Investor Roadshows Weekly NTA Half and full year announcements financial results each year Monthly Newsletter Annual General Meeting Thought leadership and Research house and Webinars and video market insights papers brokers reports insi
Slide 18: Disclaimer
DISCLAIMER Pengana Investment Management Ltd, including its parent, subsidiaries and/or affiliates (“the Company”), their staff or consultants or any individuals preparing this communication, may at any time have a position in securities or options of any of the companies mentioned in this communica
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