Perpetual Limited · ASX:PPT

Perpetual — Perpetual Trustees Australia — Non-Deal Roadshow (June 2005)

27 slides from Perpetual's roadshow presentation, Jun 24, 2005

  1. Slide 1: Perpetual Trustees Australia Limited ('Perpetual')

    Perpetual Trustees Australia Limited (‘Perpetual’) David Deverall, Chief Executive Officer Perpetual Trustees Australia Limited Investor Presentation, Goldman Sachs JBWere 24 June 2005

  2. Slide 2: Perpetual: Key messages

    Perpetual: Key messages „ Australian financial services company participating actively in wealth management and securitisation „ The Australian wealth management and securitisation markets have strong fundamentals „ Well positioned to compete „ Currently implementing its growth strategy „ An attract

  3. Slide 3: Perpetual is an ASX 100 company and largest independent wealth manager in Australia

    Perpetual is an ASX 100 company and largest independent wealth manager in Australia „ Top performing manager in Australian equities „ ~$26 billion FUM as at May 2005 „ Market capitalisation ~$2 billion and approximately 850 employees „ Revenues have nearly tripled from ~A$100 million at June 1997 to

  4. Slide 4: Perpetual actively participates in two industries

    Perpetual actively participates in two industries Asset Wealth Corporate Management Management Trust Responsible for producing Responsible for creating a suite Australia’s pre-eminent investment returns of wealth management provider of trust and products, providing the administration services to mar

  5. Slide 5: In Wealth Management we focus on the 'value-add' ends of the value chain

    In Wealth Management we focus on the ‘value-add’ ends of the value chain Our focus „ Asset managers who can continue to „ Consolidated „ Advisers can craft add alpha will be able to differentiate reporting by value proposition themselves from competitors and administrators likely around provision ch

  6. Slide 6: Our Corporate Trust business provides services between corporates and investors

    Our Corporate Trust business provides services between corporates and investors Investor Protection Originators of Capital Compliance Culture Investors and Stakeholders Markets Activity Banks Institutional Investors Non-bank Financial Fiduciary Services Retail Debenture Holders Institutions Fund Uni

  7. Slide 7: Perpetual Trustees: Key messages

    Perpetual Trustees: Key messages „ An Australian financial services company participating actively in wealth management and securitisation „ The Australian wealth management and securitisation markets have strong fundamentals „ Well positioned to compete „ Currently implementing its growth strategy

  8. Slide 8: Strong growth is expected in pre and post Australian retirement assets

    Strong growth is expected in pre and post Australian retirement assets Australian Managed Fund Market Overview „ Australian managed fund industry Total Superannuation Funds by Year $ Billion totals $720b with historical annual 3,000 growth of 9.2% 2,500 „ Superannuation assets make up 80% 2,000 of t

  9. Slide 9: The Australian securitisation market has good underlying fundamentals

    The Australian securitisation market has good underlying fundamentals Outs tanding Se curitisation ($B) $200B Supply is increasing „ Currently only ~25% of Australia’s residential loans are securitised (as Other ABS 1 50 opposed to ~60% in the US), and „ Non-bank financial institutions, the largest

  10. Slide 10: Perpetual Trustees: Key messages

    Perpetual Trustees: Key messages „ An Australian financial services company participating actively in wealth management and securitisation „ The Australian wealth management and securitisation markets have strong fundamentals „ Well positioned to compete „ Currently implementing its growth strategy

  11. Slide 11: The Australian Equities team delivers consistent outstanding performance

    The Australian Equities team delivers consistent outstanding performance Excess over benchmark (pre-fees) Variance to benchmark (3 Year Rolling Excess Performance) 10.0% 8.0 Australian Share Fund Performance 6.0 4.0 1st Quartile Performers- 2.0 Mercers Universe 0.0 Jan Apr Jul Oct Jan Apr Jul Oct De

  12. Slide 12: Performance well recognised by the market

    Performance well recognised by the market „ Fund Manager of the Year 2004 Morningstar Awards „ Australian Equities Fund Manager of the Year 2004 „ Australian Multi-Sector Fund Manager of the Year 2004 Personal Investor Magazine „ Fund Manager of the Year 2004 Awards „ Australian Share Fund of the Ye

  13. Slide 13: Funds under management continues to grow strongly

    Funds under management continues to grow strongly FUM ($B) 30 26.4 25 21.7 20 19.4 Institutional 17.4 15.6 15 Retail FUM 11.6 10 Masterfund 5 0 Jun 00 Jun 01 Jun 02 Jun 03 Jun 04 May 05 12

  14. Slide 14: 2005 First half net inflows of $1.4B

    2005 First half net inflows of $1.4B 30 June 2004 Net inflows ($B) Other* 31 Dec 2004 FUM ($B) ($B) FUM ($B) Retail $6.6 - $0.7 $7.3 Masterfund $11.7 $0.7 $1.4 $13.8 Institutional $3.4 $0.7 $0.8 $4.9 All Channels $21.7 $1.4 $2.9 $26.0 Australian Equity $13.9 $1.3 $2.6 $17.8 Other $7.8 $0.1 $0.3 $8.2

  15. Slide 15: Retail Funds under Advice and Administration

    Retail Funds under Advice and Administration Funds under advice, administration, and trust ($B) 8 7.0 6.6 6.2 6.0 6 5.8 DIY/IDPS DIY/IDPS DIY/IDPS /Other DIY/IDPS /Other /Other /Other Trusts 4 Trusts Trusts Trusts & Estates Funds under & Estates & Estates & Estates Advice and Administration Wilson W

  16. Slide 16: Our leading position (~60% share) in the corporate trust market supports strong growth in balances

    Our leading position (~60% share) in the corporate trust market supports strong growth in balances Funds Under Administration ($B) 150 138.4 112.4 100 87.1 52.3 50 42.2 28.0 0 Jun 00 Jun 01 Jun 02 Jun 03 Jun 04 Apr 05 15

  17. Slide 17: Perpetual Trustees: Key messages

    Perpetual Trustees: Key messages „ An Australian financial services company participating actively in wealth management and securitisation „ The Australian wealth management and securitisation markets have strong fundamentals „ Well positioned to compete „ Currently implementing its growth strategy

  18. Slide 18: Perpetual's strategy

    Perpetual’s strategy Focus on our I. Develop a II. Develop 4 sources of competitive more balanced new growth advantage portfolio engines III. Fully engage our people to deliver our strategy 17

  19. Slide 19: Implementation: Developing a more balanced portfolio and new growth engines

    Implementation: Developing a more balanced portfolio and new growth engines „ Expanded our asset management footprint – Global equities – Credit „ Opened global equities business in Ireland „ Initial flows into credit income and credit enhanced cash products „ Launched property income and capital pr

  20. Slide 20: Expanding our asset management footprint

    Expanding our asset management footprint Skill set High breadth Low breadth Domestic Stock Broad Styles Small Caps Hedge Funds Private Equity Picking Mortgage Lending Mortgages Mezz Debt LPT Stock Picking Global Domestic Infrastructure Infra-structure Investing Currency/ Quantitative Investing Globa

  21. Slide 21: Perpetual has created its own global equities business

    Perpetual has created its own global equities business Business „ Manufacture a focused range of global equities products strategy „ Distribution of these products to: includes: – Retail and institutional investors in Australia – Institutional investors outside of Australia Perpetual Trustees Austra

  22. Slide 22: Key points: Global equities business

    Key points: Global equities business „ Perpetual is entering the very large global equities market „ Outstanding investment team that has worked together for over 10 years „ Philosophy and culture a perfect match with Perpetual „ Very experienced sales capability in the UK „ Very long term incentive

  23. Slide 23: 2005 Implementation: Fully engage our people to deliver our strategy

    2005 Implementation: Fully engage our people to deliver our strategy „ New remuneration policy „ Single premises „ Leadership team in place „ Long term incentives in place to retain key members of our asset management team 22

  24. Slide 24: Perpetual Trustees: Key messages

    Perpetual Trustees: Key messages „ An Australian financial services company participating actively in wealth management and securitisation „ The Australian wealth management and securitisation markets have strong fundamentals Well positioned to compete „ Currently implementing its growth strategy „

  25. Slide 25: Five year performance is consistently strong

    Five year performance is consistently strong Growth Performance measures 2000 2001(4) 2002(4) 2003(4) 2004 Rate(1) EBITDA ($m) 71.4 82.0 100.7 113.6 143.6 19.1% Operating profit after tax (OPAT) excluding 30.7 40.7 58.7 68.2 88.2 30.2% realised gains on investment sales(2) ($m) Earnings per share (c

  26. Slide 26: A new dividend policy in place

    A new dividend policy in place Starting point Dividend policy „ Strong cash generation Ordinary dividends of „ Low capital expenditure 90% of NPAT „ Substantial franking credits before goodwill amortisation and gains / losses on investments, fully franked High dividend pay-out 25

  27. Slide 27: Why Perpetual?

    Why Perpetual? „ Independent wealth manager „ Fund Manager of the Year four out of the last five years „ Recognised top performer in Australian equities „ One of Australia’s largest wealth management pure plays „ Global option recently initiated 26

Perpetual Trustees Australia — Non-Deal Roadshow (June 2005) on 6ix