NAOS Ex-50 Opportunities Co. Ltd. · ASX:NAC
NAOS Ex-50 Opportunities — NAOS Emerging Opportunities Company — Q2 FY2017 Earnings Presentation
24 slides from NAOS Ex-50 Opportunities's earnings presentation, Feb 2, 2017
Slide 1: Quarterly Investor Briefing 2nd Quarter FY-2017
QUARTERLY INVESTOR BRIEFING 2ND QUARTER FY-2017 NAOS Emerging Opportunities Company Limited (ASX: NCC)
Slide 2: Call Details
CALL DETAILS 1. Date Thursday 2 February 2017 2. Time 11:30am AEDT 3. Telephone Within Australia: 1800 857 029 Outside Australia: +61 3 8687 0635 New Zealand: 0800 449 288 4. Guest Access Code 1084 2873# 5. Questions Please email all questions to [email protected] prior to the allotted call time
Slide 3: Agenda
AGENDA 1. NCC Q2 FY17 REVIEW • Performance & Risk Summary • Stock Contribution (Since Inception) • Return Profile, Positive v Negative Return Months • Capital Analysis • Dividend Profile • Director/Shareholder Alignment • Historical Net Equity & Cash Exposure • Industry/Sector Exposure • Company Mee
Slide 4: 1. NCC Review
1. NCC Review Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 4
Slide 5: NCC: Performance & Portfolio Characteristics Summary
NCC: PERFORMANCE & PORTFOLIO CHARACTERISTICS SUMMARY AS AT 31 DECEMBER 2016 2 Year 3 Year Inception Inception 3 Month 6 Months 1 Year (% p.a.) (% p.a.) (% p.a.) (% Nom.) NCC Investment Portfolio Performance* +0.97% +16.60% +36.50% +19.71% +18.54% +22.01% +114.81% S&P/ASX Small Ordinaries Accumulatio
Slide 6: NCC: Positive Stock Contribution Summary (Since Inception)
NCC: POSITIVE STOCK CONTRIBUTION SUMMARY (SINCE INCEPTION) AS AT 31 DECEMBER 2016 Positive Stock Contribution Analysis (Contribution is what has attributed to NCC’s performance since inception) (1 March 2013 to 31 December 2016) The table below lists the top positive contributors to NCC’s total retu
Slide 7: NCC: Return Profile, Positive v Negative Months
NCC: RETURN PROFILE, POSITIVE V NEGATIVE MONTHS AS AT 31 DECEMBER 2016 11.00% 9.00% 7.00% 5.00% 3.00% 1.00% -1.00% -3.00% -5.00% Gross Return Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 7
Slide 8: NCC Capital Analysis
NCC CAPITAL ANALYSIS: AS AT 31 DECEMBER 2016 NTA Analysis Pre Tax - $1.39 Post Tax Pre Unrealised Gains Tax – $1.40 Post Tax - $1.27 Share Price $1.35 Discount to NTA (Pre-Tax) -2.88% Fully Franked Dividend Yield 5.00% Gross Dividend Yield 7.14% Shares on Issue 47,203,039 Directors Shareholding 3,66
Slide 9: NCC: Historical Fully Franked Dividend Profile
NCC: HISTORICAL FULLY FRANKED DIVIDEND PROFILE AS AT 31 DECEMBER 2016 $0.0800 $0.0675 $0.0700 $0.0625 $0.0575 $0.0600 $0.0500 $0.0400 $0.0250 $0.0300 $0.0200 $0.0100 $0.0000 FY-2013 FY-2014 FY-2015 FY-2016 Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 9
Slide 10: NCC: Directors Increasing Alignment with Shareholders Since IPO
NCC: DIRECTORS INCREASING ALIGNMENT WITH SHAREHOLDERS SINCE IPO AS AT 31 DECEMBER 2016 1,958,246 2,000,000 1,800,000 1,543,000 1,600,000 1,400,000 1,074,019 1,200,000 1,000,000 800,000 627,881 600,000 200,000 283,829 400,000 200,000 0 David Rickards Sebastian Evans Warwick Evans IPO Shareholding Sha
Slide 11: NCC: Portfolio Structure Historical Net Equity and Cash Weightings
20% 40% 60% 80% 100% 120% 0% -40% -20% Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 AS AT 31 DECEMBER 2016 Net Equity Weighting Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Conviction Long Term Investing | Copyright 2017 NAOS Ass
Slide 12: NCC: Portfolio Structure Allocation by Industry/Sector (Net)
NCC: PORTFOLIO STRUCTURE ALLOCATION BY INDUSTRY/SECTOR (NET) AS AT 31 DECEMBER 2016 0.20% Consumer Durables & Apparel 0.75% Healthcare 2.21% Materials 2.44% Food & Beverage 5.55% Transport 13.94% Media 14.00% Telecommunications 27.02% Diversified Financials 34.89% Consumer Services 0% 10% 20% 30% 40
Slide 13: NCC: Company Meetings
NCC: COMPANY MEETINGS The NAOS investment philosophy is based around the belief that for a company to succeed and generate strong returns for shareholders it must be led by a motivated, proven and experienced management team. NAOS Investment Team has direct contact with many listed and unlisted comp
Slide 14: 2. Market Outlook
2. Market Outlook Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 14
Slide 15: Market Outlook: Focus for 3Q FY2017
MARKET OUTLOOK: FOCUS FOR 3Q FY2017 Domestic Focus ASX-300 Fundamentals • 1HFY17 Reporting Season Expectations FY17 P/E – 17.60 Times • Rotation From Growth to Cyclicals • Resource Stocks Valuations vs. Commodity Prices FY17 EPS Growth – 8.60% • Retail Sector Downgrades FY17 Revenue Growth – 2.92% G
Slide 16: Market Outlook: ASX-300 Relative Industry Performance
MARKET OUTLOOK: ASX-300 RELATIVE INDUSTRY PERFORMANCE Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 16
Slide 17: Market Outlook: Relative 1-Year Performance of Certain Resource Companies
MARKET OUTLOOK: RELATIVE 1-YEAR PERFORMANCE OF CERTAIN RESOURCE COMPANIES Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 17
Slide 18: Market Outlook: Relative 1-Year Performance of Commodity Prices
MARKET OUTLOOK: RELATIVE 1-YEAR PERFORMANCE OF COMMODITY PRICES Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 18
Slide 19: Market Outlook: NAOS Investment Philosophy
MARKET OUTLOOK: NAOS INVESTMENT PHILOSOPHY Companies valued based on todays flat earnings profile but not tomorrows growing earnings Proven base. management Existing revenue teams with strong streams. shareholder alignment. Focus on Ability to drive Balance sheet flexibility. the revenue and/or Cont
Slide 20: 3. Keeping Up to Date
3. Keeping Up to Date Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 20
Slide 21: NAOS Asset Management 2017 Investor Roadshows
NAOS ASSET MANAGEMENT 2017 INVESTOR ROADSHOWS Conviction Long Term Investing | Copyright 2017 NAOS Asset Management Limited 21
Slide 22: Investor Awareness and Communications
INVESTOR AWARENESS AND COMMUNICATIONS CEO Insights, Weekly NAOS Newsletter, subscribe via our website www.naos.com.au/#subscribeform Quarterly Shareholder Conference Calls, subscribe via our website www.naos.com.au/#subscribeform Monthly Investment Report & NTA email updates, subscribe via our websi
Slide 23: The NAOS Team and Directors
THE NAOS TEAM AND DIRECTORS Sebastian Evans Richard Preedy Chief Investment Officer/ Chief Financial & Operating Officer Managing Director Ben Rundle Julie Coventry Portfolio Manager Compliance Officer Sebastian Evans David Rickards Warwick Evans Director Independent Chairman Director Jeffrey Kim Ju
Slide 24: Disclaimer
Disclaimer This presentation has been prepared by NAOS Asset Management Limited (ABN 23 107 624 126, AFSL 273529, “NAML”). The purpose of this presentation is to provide information only; any other use other than informational purposes is disclaimed. The information provided is given in summary form
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