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FUTURE GENERATION GLOBAL LIMITED Call Transcript 2020
64914_rns_2020-04-15_42d03b29-b825-4fb7-97f5-d316cbf2269c.pdf
Call Transcript
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Investor Q&A Call
16 April 2020 $11:00$ am - 12:00pm (Sydney time)
Dial-in number: 1800 590 693 Access code: 873021
Join the webinar at this link
Disclaimer
This presentation has been prepared for use in conjunction with a verbal presentation and should be read in that context. The information in this presentation is only intended for Australian residents. The purpose of this presentation is to provide information only and the content of the presentation does not purport to provide investment advice. We strongly suggest that investors read the Prospectuses and all publicly available information and consult a financial advisor prior to making any investment decision. The presentation does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making investment, financial or other decisions. The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in Future Generation Australia (ASX: FGX) or Future Generation Global (ASX: FGG). The information provided in the presentation is given in good faith and is believed to be accurate at the time of compilation. Neither Future Generation Australia, Future Generation Global nor their directors or employees make any representation or warranty as to the accuracy, reliability, timeliness or completeness of the information. To the extent permissible by law, Future Generation Australia, Future Generation Global and their directors and employees disclaim all liability (whether arising in contract, tort, negligence or otherwise) for any error, omission, loss or damage (whether direct, indirect, consequential or otherwise). Neither Future Generation Australia, Future Generation Global nor their directors or employees guarantee or make any representation as to the performance of Future Generation Australia, Future Generation Global, the maintenance or repayment of capital, the price at which shares may trade or any particular rate of return.
Future Generation Investment Company Limited (ASX: FGX) ABN: 97 063 935 553 Future Generation Global Investment Company Limited (ASX: FGG) ABN: 52 606 110 838
Including the 2.6cps fully franked final dividend to be paid on 28 April 2020.
2.6 cents per share fully franked final dividend
| Key dates | |
|---|---|
| Ex-dividend date | 15 April 2020 |
| Record date | 16 April 2020 |
| Last election date for DRP | 20 April 2020 |
| Payment date | 28 April 2020 |
Investment portfolio performance
as at 31 March 2020
| Investment portfolio performance |
mth | 6 mths |
vr | 3 yrs % pa |
5 yrs %pa |
Since inception %pa (Sept-14) |
Volatility (% standard deviation) |
|---|---|---|---|---|---|---|---|
| Future Generation Australia | $(18.3\%)$ | $(19.1\%)$ | $(11.5\%)$ | $1.0\%$ | 3.8% | 4.6% | $11.2\%$ |
| S&P/ASX All Ordinaries Accumulation Index |
$(20.9\%)$ | $(23.4\%)$ | $(15.0\%)$ | $(0.7\%)$ | 1.5% | 2.7% | 14.5% |
Investment portfolio performance and Index returns are before expenses, fees and taxes.
Fund manager allocations
as at 31 March 2020
| 16.6% fund manager breakdown CBG Asset Management |
2.6% | |
|---|---|---|
| Vinva Investment Management | 2.4% | |
| Tribeca Investment Partners | 2.3% | |
| Sage Capital | 2.0% | |
| LHC Capital | 1.9% | |
| Centennial Asset Management | 1.8% | |
| Smallco Investment Manager | 1.4% | |
| QVG Capital | 1.1% | |
| Lanyon Asset Management | 1.1% |
0% management fees 0% performance fees
Fund manager
allocation and investments at market value as at 31 March 2020
$\overline{7}$
| Fund Manager | Investment | Strategy | % of Gross Assets |
|---|---|---|---|
| Bennelong Australian Equities Partners |
Bennelong Australian Equities Fund | Long equities | 12.1% |
| Mid/Large Cap Funds (split out below) | 10.7% | ||
| Paradice Investment Management | Paradice Mid Cap Fund - B Class | Long equities | 5.9% |
| Paradice Large Cap Fund | Long equities | 4.8% | |
| Regal Funds Management | Regal Australian Long Short Equity Fund | Absolute bias | 9.2% |
| Small/Emerging Companies Funds (split out below) | 6.5% | ||
| Eley Griffiths Group | Eley Griffiths Group Small Companies Fund | Long equities | 5.5% |
| Eley Griffiths Group Emerging Companies Fund | Long equities | 1.0% | |
| Wilson Asset Management | Wilson Asset Management Equity Fund | Absolute bias | 5.9% |
| Cooper Investors | Cooper Investors Australian Equities Fund | Long equities | 5.6% |
| Watermark Funds Management | Watermark Market Neutral Trust | Market neutral | 5.2% |
| Bennelong Long Short Equity Management |
Bennelong Long Short Equity Fund | Market neutral | 4.8% |
| Long Short/Australian Equities Funds (split out below) | 4.5% | ||
| L1 Capital | L1 Capital Long Short Fund - Retail Class | Absolute bias | 2.3% |
| L1 Capital Australian Equities Fund | Long equities | 2.2% | |
| Absolute Return/High Conviction Funds (split out below) | 4.2% | ||
| Firetrail Investments | Firetrail Absolute Return Fund | Market neutral | 3.3% |
| Firetrail High Conviction Fund | Long equities | 0.9% | |
| Sandon Capital | Sandon Capital Activist Fund | Absolute bias | 4.0% |
| CBG Asset Management | CBG Asset Australian Equities Fund | Long equities | 2.6% |
| Vinva Investment Management | Vinva Australian Equities Fund | Long equities | 2.4% |
| Tribeca Investment Partners | Tribeca Alpha Plus Fund | Absolute bias | 2.3% |
| Sage Capital | Sage Capital Equity Plus Fund | Absolute bias | 2.0% |
| LHC Capital | LHC Capital Australia High Conviction Fund | Absolute bias | 1.9% |
| Centennial Asset Management | The Level 18 Fund | Absolute bias | 1.8% |
| Smallco Investment Manager | Smallco Broadcap Fund | Long equities | 1.4% |
| QVG Capital | QVG Opportunities Fund | Long equities | 1.1% |
| Lanyon Asset Management | Lanyon Australian Value Fund | Absolute bias | 1.1% |
| Cash and term deposits | 10.7% |
Investment portfolio performance
as at 31 March 2020
| Investment portfolio performance |
mth | 6 mths |
Vľ | 3 yrs %pa |
Since inception (Sept-15) |
Volatility %pa (% standard deviation) |
|---|---|---|---|---|---|---|
| Future Generation Global | $(8.1\%)$ | $(0.2\%)$ | $7.1\%$ | $10.9\%$ | 8.3% | 9.4% |
| MSCI AC World Index (AUD) | (8.0%) | $(5.3\%)$ | $3.2\%$ | $9.4\%$ | 8.1% | 11.0% |
Investment portfolio performance and Index returns are before expenses, fees and taxes.
Fund manager allocations
Future
Generation Global INVESTMENT & SOCIAL RETURNS
as at 31 March 2020
0% management fees 0% performance fees
Fund manager
allocation and investments at market value as at 31 March 2020
| Fund manager | Investment | Strategy | % of Gross assets |
|---|---|---|---|
| Magellan Asset Management | Magellan Global Fund | Long equities | 13.0% |
| Cooper Investors | Cooper Investors Global Equities Fund (Unhedged) | Long equities | 11.1% |
| Antipodes Partners | Antipodes Global Fund | Absolute bias | 10.0% |
| Marsico Capital Management | Marsico Global Fund | Long equities | 8.6% |
| Nikko Asset Management Australia | Nikko AM Global Share Fund | Long equities | 7.6% |
| Caledonia | Caledonia Fund | Long equities | 7.3% |
| VGI Partners | VGI Partners Funds | Absolute bias | 7.1% |
| Ellerston Capital | Ellerston Global Mid Small Cap Fund | Long equities | 5.1% |
| Munro Partners | Munro Global Growth Fund | Absolute bias | 5.0% |
| Manikay Partners | Manikay Global Opportunistic USD Fund | Absolute bias | 4.7% |
| Global/Ethical Strategies (split out below): | 4.5% | ||
| Morphic Asset Management | Morphic Global Opportunities Fund | Absolute bias | 3.7% |
| Morphic Ethical Equities Fund Limited | Absolute bias | 0.8% | |
| Avenir Capital | Avenir Global Fund | Absolute bias | 3.0% |
| Paradice Investment Management |
Paradice Global Small Mid Cap Fund Unhedged | Long equities | 2.9% |
| Cash and term deposits | 10.1% |
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