WAM Research Ltd. · ASX:WAX
WAM Research — Investor Presentation (November 2017)
43 slides from WAM Research's investor presentation, Nov 20, 2017
Slide 1: November 2017 Shareholder Presentation
For personal use only November 2017 Shareholder Presentation
Slide 2: Play Video
For personal use only Play Video >
Slide 3: Disclaimer
For personal use only Disclaimer This presentation has been prepared by MAM Pty Ltd and Wilson Asset Management (International) Pty Ltd (Wilson Asset Management) for use in conjunction with a verbal presentation and should be read in that context. This presentation Information for the graphs, charts
Slide 4: All bull markets end
For personal use only All bull markets end Page 4
Slide 5: The economy of the future
For personal use only The economy of the future Page 5
Slide 6: Millennials are changing how we live and work
Millennials Big p are changing how we live and work For personal use only IMAGE XXXX
Slide 7: You will be healthier for longer
WAM Global For personal use only Key points You will be healthier for longer
Slide 8: The line between computers and humans will blur
For personal use only The line between computers and humans will blur
Slide 9: 97% of the world's listed companies are outside Australia
For personal use only 97% of the world’s listed companies are outside Australia
Slide 10: Investing in undervalued international growth companies
For personal use only Investing in undervalued international growth companies Register for updates at wilsonassetmanagement.com.au/global
Slide 11: Market outlook
Market outlook For personal use only Housing The and infrastructure Australian economy CHINA IMAGE remains patchy
Slide 12: China's continued growth will assist
For personal use only China’s continued growth will assist
Slide 13: Resources and mining services are set to thrive
Resources and mining services are set to thrive For personal use only
Slide 14: Infrastructure is booming
Infrastructure is booming For personal use only
Slide 15: Major transport infrastructure projects
Major transport infrastructure projects For personal use only Source: Macromonitor March 2017
Slide 16: Amazon enters Australia
Amazon enters Australia For personal use only
Slide 17: Selected holdings
For personal use only Selected holdings ASX ASX ASX ASX ASX SVW EHL PSI NEC RKN ASX ASX ASX ASX ASX GEM APT PTM VAH PPC
Slide 18: For personal use only
For personal use only ASX SVW ASX NEC
Slide 19: For personal use only
For personal use only ASX EHL ASX PAC
Slide 20: For personal use only
For personal use only ASX PSI ASX GEM
Slide 21: For personal use only
For personal use only ASX PTM ASX PPC
Slide 22: Central banks vs. equity markets
Central banks vs. For personal use only equity markets
Slide 23: The great unwind
The great unwind For personal use only Note: Changes in balance sheets are calculated as a 12-month rolling sum Source: Institute of International Finance
Slide 24: Global leading economic indicators are pointing to above-trend growth
Global leading economic indicators are pointing to above-trend growth For personal use only ©BCA Research 2017 *Includes 23 countries, shown standardised, based on BCA calculations
Slide 25: Recessions & unemployment
Recessions & unemployment US unemployment rate* For personal use only *Shown as a 3-month long average Note: grey shading indicates NBER-designated recessions
Slide 26: Recessions & bear markets
Recessions & bear markets US S&P 500* For personal use only *Shown in log scale Note: grey shading indicates NBER-designated recessions
Slide 27: Oil price to rise as OPEC supply tightens
Oil price to rise For personal use only as OPEC supply Retail Mining services tightens
Slide 28: Oil inventory drawdowns support higher prices
Oil inventory drawdowns support higher prices For personal use only
Slide 29: Insurers attractive after hurricane season
For personal use only Insurers attractive after hurricane season
Slide 30: Major banks deliver healthy numbers
Major banks deliver For personal use only healthy numbers
Slide 31: Selected holdings
For personal use only Selected holdings ASX ASX ASX ASX ASX BHP WOW SGR TAH BLD ASX ASX ASX ASX ASX WFD CGF ORG JHG CPU
Slide 32: For personal use only
For personal use only ASX TAH ASX BLD
Slide 33: For personal use only
For personal use only ASX ORG ASX WFD
Slide 34: Share price premiums and discounts to NTA since inception
Share price premiums and discounts to NTA since inception For personal use only 40% 30% 20% 10% 0% -10% -20% -30% -40% 2012 2002 2010 2000 2014 2004 2016 2006 2008 Page 34 As at 31 October 2017
Slide 35: Profit reserves
Profit reserves For personal use only 1.1 1.3 years years 3.6 1.5 years years Based on FY2017 dividends
Slide 36: Activism is on the rise
Activism is on the rise For personal use only Total Global Activism 2012-1H 2017 1200 Number of companies targeted by activists 1000 17 800 7 61 485 88 7 59 600 4 58 111 51 80 57 37 54 28 7 3 28 67 38 400 9 62 12 55 495 529 437 200 377 350 304 0 2012 2013 2014 2015 2016 1H 2017 North America Europe
Slide 37: For personal use only
For personal use only
Slide 38: For personal use only
For personal use only
Slide 39: For personal use only
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Slide 40: Wilson Asset Management
Wilson Asset Management in)
Slide 41: For personal use only
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Slide 42: Play Video
For personal use only Play Video >
Slide 43: Shareholder Presentation
For personal use only Shareholder Presentation 12.30pm – 1.30pm