Australian Shareholders’ Association 08/11/16
39
Australian Shareholders’ Association Presentation to Concord Discussion Group Tuesday 8 November 2016 Perpetual Equity Investment Company Limited
-
Upload
davec85 -
Category
Investor Relations
-
view
27 -
download
5
Transcript of Australian Shareholders’ Association 08/11/16
Australian Shareholders’
AssociationPresentation to Concord Discussion Group
Tuesday 8 November 2016
Perpetual Equity Investment Company Limited
Disclaimer
The ASA is not licensed to give financial advice The content of these presentations is not designed to
provide any specific investment advice to any person present
The ASA does not accept any responsibility to inform you of any matter that subsequently comes to our notice that may affect any of the information discussed
Anyone wishing to act on any matter discussed should seek independent advice from a licensed financial adviser
Perpetual Equity Investment Company Limited
Investment Philosophy – Sound Management (disciplined, deliver, good
board) Conservative debt Quality Business Recurring Earnings (3 year track record) Unloved & overlooked stocks
Investment Style – fundamental high conviction investor
Perpetual Equity Investment Company Limited
Asset Allocation 30 June 2016 Australian Stocks 55% Global Stocks 23% Cash 22%
NTA (post tax) 30 September 2016 $1.045 Market Price 3 November 2016 $0.955 Discount on NTA 8.6%
NameTicker
Investment $millions *
Current
Price($)
Morningstar
Fair Value ($)
Morningstar
Analyst
Recom
1 Year Total
Return
(%)
ROE
(%)30/6/16 4/11/16
Woolworths WOW 26.6 22.81 28.00 Accum 0.8 32.1Sky Network SKT 15.4 (9.9) 4.11 4.20 Hold 2.9 12.0
BlueScope Steel BSL 14.9
(11.6) 7.45 3.50 Sell 70.0 4.3Suncorp Group SUN 14.8 (5.8) 11.58 12.00 Hold -2.4 8.1Graincorp Ltd GNC 14.6 8.37 7.80 Hold 0.2 2.4Caltex Australia CTX 12.2 30.08 28.00 Hold -0.2 17.7Henderson Group HGG 8.7 3.60 4.20 Hold -39.8 19.0Automotive Holdings AHG 7.1 3.98 4.60 Hold 1.7 14.6SAI Global SAI 6.5 4.67 4.75 Hold 11.7 14.2AMP AMP 5.9 4.60 5.30 Accum -15.9 13.4Bapcor BAP 3.9 (5.3) 5.11 na na 41.0 12.2Tegel Group Holdings TGH 3.6 1.41 na na
3-May-16 na
Super Retail Group SUL 2.9 9.45 9.00 Hold 4.0 15.6Southern Cross Media SXL 2.2 1.41 1.20 Reduce 47.7 7.9Monash IVF MVF 1.1 2.02 2.10 Hold 53.5 18.6PIC PIC 140.3 7.7 14.9* Figures in brackets =30/6/15
Looking at the Australian stocks portfolio
Perpetual Equity Investment Company Limited
Perpetual Equity Investment Company LimitedSoldA2 Milk 71c at 30/6/15 > $2.00 Dec 16 > now $1.86Glenworth Mortgage $3.06 at 30/6/15 >$2.22 Feb 16 > now $3.04Nine Entertainment $1.53 at 30/6/15 >$1.91 Jan 16 > now 94c
BoughtAMPAutomotive Holdings Caltex Australia Graincorp Ltd Henderson Group Monash IVF SAI Global Southern Cross Media Super Retail Group Tegel Group Holdings Woolworths
Perpetual Equity Investment Company Limited
% of Holding Name
Industry
Price 4/11/16
Market Value
YTD Total
Assets ($) $000s Return (%)
18.6 Woolworths Ltd Grocery Stores 22.87 26,627 -1.710.8 Sky Network
Television Pay TV 4.11 15,437 3.4
10.3 Suncorp Group Ltd Insurance 11.56 14,792 5.310.3 Graincorp Ltd Class Farm Products 8.42 14,710 -2.010.1 BlueScope Steel LtdSteel 7.24 14,458 74.6
8.1 Caltex Australia Ltd Oil & Gas Refining & Marketing 30.12 12,168 -14.5
6.1 Henderson Group PLC Asset Management 3.59 8,648 -41.4
4.9 Automotive Holdings
Auto & Truck Dealerships 3.93 6,993 -4.6
4.6 SAI Global Ltd Business Services 4.67 6,524 17.34.1 AMP Ltd Insurance - Life 4.55 5,840 -16.23.8 Southern Cross
Media Media - Diversified 1.43 5,390 32.12.7 Bapcor Ltd Specialty Retail 5.11 3,923 24.22.5 Tegel Group
Holdings Packaged Foods 1.4 3,541 ---
2.0 Super Retail Group L Specialty Retail 9.44 2,851 -11.7
0.8 Monash IVF Group Ltd Biotechnology 2.01 1,087 33.4
Perpetual Equity Investment Company Limited
Avoided HIPPs Healthcare Infrastructure Property Pizzas
and Miners Big 4 Banks
Standing Still
AMP
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
27/8/2012 Open: 4.390 High: 4.520 Low: 4.370 Close: 4.400 Volume: 40,861,868
Remove ChartCustomize Chart
Chart Options
Unloved
191 Franchises in 110 dealerships
Automotive Holdings
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
27/8/2012 Open: 2.800 High: 2.860 Low: 2.670 Close: 2.840 Volume: 1,214,368
Remove ChartCustomize Chart
Chart Options
overlooked
5 YearWeeklyLineNoneNoneLargeNone
BAPCOR
Bapcor
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
8/9/2014 Open: 2.172 High: 2.383 Low: 2.172 Close: 2.347 Volume: 1,413,747
Chart Options
Good Management
5 YearWeeklyLineNoneNoneLargeNone
BlueScope Steel
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
2/7/2012 Open: 1.740 High: 1.830 Low: 1.500 Close: 1.800 Volume: 15,820,496
Chart Options
unloved
5 YearWeeklyLineNoneNoneLargeNone
Caltex
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
30/4/2012 Open: 13.660 High: 13.810 Low: 13.610 Close: 13.720 Volume: 1,892,890
Chart Options
unloved
5 YearWeeklyLineNoneNoneLargeNone
Graincorp
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
30/4/2012 Open: 9.287 High: 9.336 Low: 9.019 Close: 9.158 Volume: 2,536,379
Chart Options
Looking for earnings recovery
5 YearWeeklyLineNoneNoneLargeNone
Henderson
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
9/4/2012 Open: 1.970 High: 1.995 Low: 1.930 Close: 1.950 Volume: 8,477,020
Chart Options
Unloved due to Brexit
5 YearWeeklyLineNoneNoneLargeNone
Monash IV
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
3/11/2014 Open: 1.585 High: 1.600 Low: 1.310 Close: 1.525 Volume: 7,494,966
Chart Options
overlooked
5 YearWeeklyLineNoneNoneLargeNone
SAI Global
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
20/8/2012 Open: 4.340 High: 4.480 Low: 3.830 Close: 4.100 Volume: 13,800,181
Chart Options
Take-over bid $4.75
5 YearWeeklyLineNoneNoneLargeNone
SKY Network TV
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
8/10/2012 Open: 4.050 High: 4.130 Low: 4.050 Close: 4.050 Volume: 30,380
Chart Options
Overlooked
5 YearWeeklyLineNoneNoneLargeNone
Southern Cross Media
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
12/3/2012 Open: 1.345 High: 1.375 Low: 1.290 Close: 1.295 Volume: 6,793,711
Chart Options
unloved
5 YearWeeklyLineNoneNoneLargeNone
SUNCORP
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
27/8/2012 Open: 8.850 High: 9.250 Low: 8.770 Close: 9.230 Volume: 29,074,596
Chart Options
Unloved
5 YearWeeklyLineNoneNoneLargeNone
Super Retail Group
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
15/10/2012 Open: 8.320 High: 8.500 Low: 8.160 Close: 8.340 Volume: 1,270,703
Chart Options
unloved
5 YearWeeklyLineNoneNoneLargeNone
Tegel
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
24/6/2016 Open: 1.580 High: 1.610 Low: 1.535 Close: 1.560 Volume: 87,098
Chart Options
Chicken IPO
1 YearDailyLineNoneNoneLargeNone
WOW
Time Frame:
Frequency:
Chart: Log
Pop-out chart
Modify Options
SMA
Enter up to 4 SMAs Update (10,20,50,100)
Benchmark:
Volume:
Trendlines:
Bollinger Bands:
Indicator Chart(s): You can select multiple charts
Dividend:
Splits:
Earnings:
Chart Size
More Top Indicators:
EMA
Symbol Comparison:
Enter up to 4 EMAs Update (10,20,50,100)
Enter up to 3 Symbols Update (BHP,ANZ,NCM)
Saved chart settings Save Settings Use as my default
Delete Settings
28/1/2013 Open: 30.900 High: 31.610 Low: 30.790 Close: 31.610 Volume: 12,893,798
Chart Options
unloved
5 YearWeeklyLineNoneNoneLargeNone
