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Corporate Presentation
2018
T R A D I N G – C O R P O R A T E F I N A N C E – R E S E A R C H – A S S E T M A N A G E M E N T
This document has been prepared
exclusively to be accompanied by an oral
presentation and does not hold any
publication and/or communication
rights.
The person receiving this document
agrees that neither they nor their
representatives, directors, agents or
employees may copy, reproduce or
distribute this document to third parties ,
either in whole or in part, without prior
written consent of KALLPA Securities
Sociedad Agente de Bolsa S.A.
Kallpa Securities SAB, founded in 2008, is a leading institution in the investment banking and securities
brokerage services in Peru. We are a team of 35 people, led by the managing partners.
Who are we?
Alberto Arispe
•CEO of Kallpa SAB. He has 25 years of experience in international capital markets. He holds an MBA from New York University and a bachelor's degree in Economics from Pontifical University of Peru. He worked for 6 years in investment banking in New York City. Expert in valuations, research and sales & trading of stocks and bonds.
Ricardo Carrión
• Managing Director - Corporate Finance of Kallpa SAB. He has 18 years of experience in securities markets and investment banking. He holds a bachelor's degree in Business Administration from the University of Lima. He worked for 8 years at BCP in Corporate Finance and Capital Markets. Specialist in issues related to investment banking.
Elizabeth Cueva
•COO of Kallpa SAB. 25 years of experience in peruvian capital markets. She holds an MBA from Centrum Católica and a bachelor's degree in Accounting from San Martín de Porres University. Experience in accounting, operations, compliance and good corporate governance.
Corporate Presentation | 3
Alberto Arispe – Chief Executive Officer
MBA from the Stern School of Business of New York University in 2000 and Bachelor’s degree in
Economics from Pontificia Universidad Católica del Perú in 1993. Between 2005 and 2008 he was Project
Development Manager in the Lima Stock Exchange. Between 2000 and 2005 he worked in New York as
Vice President of Emerging Markets for Swiss Re Corp. Since 2005, he is professor at the School of Business
of Universidad de Lima, where he teaches Securities Markets.
Ricardo Carrión – Corporate Finance Manager
Bachelor’s degree in Business Administration from Universidad de Lima, with focus in Finance. He has more
than 15 years of experience in banking. He served many years in the Corporate Finance and Capital
markets department at Banco de Crédito del Perú, participating in the most important deals in the
Peruvian market. His experience in focused in structuring debt securities (Corporate Bonds, Commercial
Papers and equity issuances, among others).
Kallpa Securities SAB
Global
Markets
Asset
Management
Capital
Markets
Corporate
Finance
• Sales
Equities/Bonds/FX
• Trading
Equities/Bonds/FX
• Research
• Operations
• Sales
• Portfolio
Management
• Wealth Management
• Personal Finance
• Public Offerings
• Private Offerings
• Debt Structuring
Services
• Advisory
• Mergers and
Acquisitions
• Valuations
• Project Assessment
• Advisory
Business Units
Corporate Presentation | 4
Source: Kallpa SAB
Average ROE between 2011 and 2018
Average ROE 26.2%
Returns on Equity
42.2%
92.1%
45.1%
21.7%
5.8% 4.2% 7.7%
17.3%
12.3% 11.9%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ROE Average 15.8%
Corporate Presentation | 5
Global Markets
Kallpa Securities SAB
Presentación Corporativa | 6
Volume Traded in Equities 2018 (PEN)
From January 2nd to December 31st Market Share
1 CREDICORP CAPITAL SAB 10,510,623,052.63 47.15%
2 SEMINARIO y CIA. SAB 2,439,296,130.90 10.94%
3 BTG PACTUAL PERU SAB 2,139,506,421.37 9.60%
4 INTELIGO SAB 2,087,563,215.96 9.36%
5 SCOTIA BOLSA SAB 1,602,599,476.19 7.19%
6 LARRAIN VIAL SAB 1,297,675,901.19 5.82%
7 CONTINENTAL BOLSA SAB 674,384,903.61 3.03%
8 KALLPA SECURITIES SAB 417,084,153.85 1.87%
9 GRUPO CORIL SAB 222,970,478.40 1.00%
10 SAB SURA 186,799,282.27 0.84%
11 INVESTA SAB 172,112,986.50 0.77%
12 INVERSION Y DESARROLLO SAB 102,295,183.70 0.46%
13 MAGOT SAB 86,338,657.32 0.39%
14 PROVALOR SAB 70,380,729.01 0.32%
15 DIVISO BOLSA SAB 61,096,037.11 0.27%
16 SAB CARTISA PERU 57,563,889.57 0.26%
17 ADCAP SECURITIES PERU SAB 48,085,116.72 0.22%
18 ACRES SAB 47,085,167.97 0.21%
19 RENTA4 SAB 32,852,391.69 0.15%
20 CA PERU SAB 15,794,907.30 0.07%
21 BNB VALORES PERU SOLFIN SAB 11,328,279.09 0.05%
22 TRADEK SAB 8,888,654.62 0.04%
TOTAL 22,292,325,016.97 100.00%
Source: SMV
Volume Traded in Equities 2018 (PEN)
Corporate Presentation | 7
Source: SMV
Volume Traded in Equities (2015 – 2018)
Corporate Presentation | 8
1 CREDICORP CAPITAL SAB 3,442,899,646 1 CREDICORP CAPITAL SAB 6,974,174,660 1 CREDICORP CAPITAL SAB 15,759,811,179 1 CREDICORP CAPITAL SAB 10,510,623,053
2 BTG PACTUAL PERU SAB 1,944,238,637 2 INTELIGO SAB 2,942,567,044 2 CONTINENTAL BOLSA SAB 7,690,584,151 2 SEMINARIO y CIA. SAB 2,439,296,131
3 INTELIGO SAB 1,637,570,544 3 SEMINARIO y CIA. SAB 1,593,901,035 3 BTG PACTUAL PERU SAB 4,565,323,484 3 BTG PACTUAL PERU SAB 2,139,506,421
4 SCOTIA BOLSA SAB 1,319,036,526 4 BTG PACTUAL PERU SAB 1,437,287,951 4 INTELIGO SAB 2,953,224,934 4 INTELIGO SAB 2,087,563,216
5 SEMINARIO y CIA. SAB 1,121,858,673 5 SCOTIA BOLSA SAB 1,371,525,497 5 SEMINARIO y CIA. SAB 2,752,941,646 5 SCOTIA BOLSA SAB 1,602,599,476
6 LARRAIN VIAL SAB 877,797,748 6 LARRAIN VIAL SAB 1,302,596,464 6 LARRAIN VIAL SAB 2,353,974,970 6 LARRAIN VIAL SAB 1,297,675,901
7 CONTINENTAL BOLSA SAB 525,939,002 7 CONTINENTAL BOLSA SAB 638,273,557 7 SCOTIA BOLSA SAB 1,665,983,891 7 CONTINENTAL BOLSA SAB 674,384,904
8 KALLPA SECURITIES SAB 476,242,994 8 KALLPA SECURITIES SAB 402,476,687 8 SAB SURA 984,157,266 8 KALLPA SECURITIES SAB 417,084,154
9 DIVISO BOLSA SAB 173,778,181 9 GRUPO CORIL SAB 231,445,966 9 KALLPA SECURITIES SAB 640,122,362 9 GRUPO CORIL SAB 222,970,478
10 GRUPO CORIL SAB 127,070,898 10 DIVISO BOLSA SAB 218,746,486 10 GRUPO CORIL SAB 317,846,030 10 SAB SURA 186,799,282
11 INVERSION Y DESARROLLO SAB 107,367,333 11 SAB SURA 166,216,266 11 MAGOT SAB 274,597,505 11 INVESTA SAB 172,112,987
12 PUENTE SAB 74,036,360 12 INVERSION Y DESARROLLO SAB 146,446,052 12 DIVISO BOLSA SAB 266,352,211 12 INVERSION Y DESARROLLO SAB 102,295,184
13 INVESTA SAB 60,147,472 13 MAGOT SAB 133,699,736 13 INVERSION Y DESARROLLO SAB 214,642,902 13 MAGOT SAB 86,338,657
14 ADCAP SECURITIES PERU SAB 59,230,374 14 INVESTA SAB 89,117,680 14 INVESTA SAB 198,888,157 14 PROVALOR SAB 70,380,729
15 MAGOT SAB 52,060,321 15 CITICORP PERU SAB 78,816,323 15 SAB CARTISA PERU 117,025,170 15 DIVISO BOLSA SAB 61,096,037
16 SAB CARTISA PERU 45,590,064 16 ADCAP SECURITIES PERU SAB 68,343,898 16 ADCAP SECURITIES PERU SAB 90,019,455 16 SAB CARTISA PERU 57,563,890
17 GPI VALORES SAB 44,144,977 17 SAB CARTISA PERU 62,787,324 17 CA PERU SAB 70,872,809 17 ADCAP SECURITIES PERU SAB 48,085,117
18 PROVALOR SAB 27,365,457 18 RENTA4 SAB 29,798,487 18 PROVALOR SAB 63,841,174 18 ACRES SAB 47,085,168
19 COMPASS GROUP SAB 17,499,763 19 PROVALOR SAB 18,973,102 19 RENTA4 SAB 61,489,116 19 RENTA4 SAB 32,852,392
20 RENTA4 SAB 10,821,801 20 GPI VALORES SAB 14,254,134 20 BNB VALORES PERU SOLFIN SAB 46,009,282 20 CA PERU SAB 15,794,907
21 Others 20,314,062 21 Others 30,883,118 21 Others 120,046,382 21 Others 20,216,934
TOTAL 12,165,010,835 TOTAL 17,952,331,468 TOTAL 25,447,942,897 TOTAL 22,292,325,017
VOLUMEN TRADED 2018- (PEN)VOLUMEN TRADED 2015 - (PEN) VOLUMEN TRADED 2016 - (PEN) VOLUMEN TRADED 2017 - (PEN)
Source: Kallpa SAB
Total Volume Traded (USD MM)
Corporate Presentation | 9
116
245 301
545
783
535
716
504
826 825 814
0
500
1000
1500
2000
2500
3000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Local Equities Foreign Equities Fixed Income FX
Client´s assets
include equities,
bonds, at market
price, and cash.
Kallpa SAB has
approximately 6,000
clients
Assets under custody (USD MM)
4
28
147 124
251
195
247
294
338
422
350
0
50
100
150
200
250
300
350
400
450
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Source: Kallpa SAB
Corporate Presentation | 10
Kallpa Securities SAB has coverage of 20 companies that trade in the Lima Stock Exchange (BVL).
Equity Research
Corporate Presentation | 11
Asset Management
Presentación Corporativa | 12
Institutional Advisory
Advice on portfolio management
Review and evaluation of current portfolios
Asset Management
Discretionary Portfolios Global Portfolios Detailed monthly reports
Wealth Management
Integral Financial Planning Investments Advisory in real
and financial sectors Advice on the portfolio
managers election Family Office
Institutional Asset Mgmt
Discretionary investments Portfolio Structure Trust Management Detailed monthly reports Training in investments Presence in Committee and
Board of Directors
Personal Finance
Pre
miu
m
Hig
h N
et
Wo
rth
Institutional Portfolio
We provide customized services, characterized by a cordial and trusting relationship. In Kallpa Securities S.A.B. we are committed to our clients.
Our services
Corporate Presentation | 13
Personalization
Active participation of the client
Flexibility in contributions /
withdrawals
Direct Contact Manager
Diversification
Analysis of the risk profile
Market Risk Management
Global Investment
Performance
Optimization process
Permanent evaluation of the
portfolio relative to the benchmark
Preferential Fees
Reliability
Investments Committee with over
15 years experience
Investments with the client's name
Daily portfolio valuation
(+)
(+) (-)
(-)
Personalized relationship
Level of sofistication
Banking System
Collective funds
Direct Investment
Wealth Management
Our difference
Corporate Presentation | 14
Capital Markets
Kallpa Securities SAB
Leading broker in primary placements in the Peruvian junior mining market.
Leading broker listing junior mining companies in the Lima Stock Exchange.
Leading broker sponsoring junior mining companies in the Lima Stock Exchange.
Leading broker in arbitrage operations in the Peruvian market.
Leading broker promoting the junior mining industry in Peru.
#1 in junior mining in Perú
Corporate Presentation | 16
Kallpa SAB is the leader in equity primary private placements among junior mining companies in Peru
between 2010 and 2017 Kallpa SAB has placed over USD 120 MM among Peruvian investors.
Equity Primary Offerings
Corporate Presentation | 17
Kallpa SAB issponsor of 9 junior mining companies and advisor of 1 company listed in the main board of
the Lima Stocks Excahnge.
Sponsorship
Corporate Presentation | 18
Commercial Papers
Corporate Bonds
Equity Issuances
Advisory on Capital
Markets
Analysis and Diagnosis
Advisory
Promotion Placement
Monitoring
A DIFFERENT ALTERNATIVE :
Kallpa SAB arises to provide businesses with consulting services in capital markets as a form
of financing not only for large companies or large corporations, but also to the segments of
medium and small companies.
Capital Markets
Corporate Presentation | 19
Kallpa SAB is the leader in primary offerings at MAV (Stock Exchange segment for medium-size
companies).
In the last 4 years, Kallpa SAB has placed over USD 30 MM in fixed income securities.
Fixed Income Primary Offerings
Corporate Presentation | 20
Corporate Finance
Kallpa Securities SAB
Mergers & Acquisitions
•Strategic analysis.
•Identification of potential buyers and sellers.
•Valuations.
•Evaluation of offers.
•Negotiation of terms and conditions
Valuation of Companies
•Independent and expert opinion.
•Identification of components of value.
Corporate Finance
•Optimal debt equity ratio.
•Determining debt capacity.
•Restructuring debt.
•Find funding sources.
Advisory
Value
Creation
Investment Banking
Corporate Presentation | 22
Head Trader [email protected] (511) 630 7516 (51) 987 525 831
Eduardo Fernandini Head of Research
[email protected] (511) 630 7528 (51) 991 148 139
Marco Contreras
Special Operations Manager [email protected] (511) 630 7500 (51) 940 206 765
Miguel Rodríguez Corporate Finance Manager [email protected] (511) 630 7526 (51) 993 479 320
Ricardo Carrión
Contact Information
Corporate Presentation | 23
Corporate Presentation
2018
T R A D I N G – C O R P O R A T E F I N A N C E – R E S E A R C H – A S S E T M A N A G E M E N T