wam global - cdn.vested.com.aucdn.vested.com.au/ipos/wgb ipo presentation.pdf · this presentation...

WAM Global(ASX: WGB) Initial public offering presentation

DisclaimerThis 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 and quoted indices contained in this presentation has been sourced from WAM Capital Ltd, WAM Leaders Ltd, WAM Research Ltd, WAM Active Ltd, WAM Microcap Ltd, Century Australia Investments Ltd and WAM Global Ltd unless otherwise stated. This presentation is proprietary to Wilson Asset Management. It may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Wilson Asset Management. The information in this presentation is only intended for Australian residents. The purpose of this presentation is to provide information only and the contents of the presentation do not purport to provide investment or financial advice. We strongly suggest that investors 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 any particular investment or security, or listed investment company offered by Wilson Asset Management. The information provided in this presentation is given in good faith and is believed to be accurate at the time of compilation. Neither Wilson Asset Management, WAM Capital Ltd, WAM Leaders Ltd, WAM Research Ltd, WAM Active Ltd, WAM Microcap Ltd, Century Australia Investments Ltd and WAM Global Ltd nor their respective directors or employees (Wilson Asset Management parties) make any representation or warranty as to the accuracy, reliability, timeliness or completeness of the information. To the extent permissible by law, Wilson Asset Management parties disclaim all liability (whether arising in contract, tort, negligence or otherwise) for any error, omission, loss or damage (whether direct, indirect, consequential or otherwise). Performance figures quoted in the report are past performance. Past performance is not an indicator of future performance. None of the Wilson Asset Management parties guarantee or make any representation as to the performance of the listed investment companies, the maintenance or repayment of capital, the price at which shares may trade or any particular rate of return. This presentation includes “forward looking statements” within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of the words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” “guidance” and other similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of any Wilson Asset Management party, that may cause actual results to differ materially from those expressed or implied in such statement. Actual results, performance or achievements may vary materially from any projections and forward looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward looking statements and Wilson Asset Management assumes no obligation to update such information. This presentation is not, and does not constitute, an offer to sell or the solicitation, invitation or recommendation to purchase, any securities and neither this presentation nor anything contained in it forms the basis of any contract or commitment. Without limiting this, this presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States.

Strong risk-adjusted returns from undervalued international growth companies

Investment objectives

– Provide capital growth over the medium-to-long term– Deliver a stream of fully franked dividends– Preserve capital

An exclusive offer

– Strictly limited to $550 million – raising up to $330 million with

oversubscriptions of $220 million

– $165 million (30%) priority allocation to the WAM Family:

– $150 million priority allocation to c. 55,000 WAM, WLE, WMI, WAX, WAA

and CYA shareholders*

– $15 million priority allocation to past shareholders, family, friends and WAM

subscribers*

– $2.20 issue price and pro forma net asset value – no options

– The investment manager will pay all costs associated with the IPO

– Selling fee: 1.5% including GST*And their associated entities

Long-term performance

Performance at 28 February 2018

1yr

3 yrs%pa

5 yrs%pa

10 yrs%pa

Since inception

%pa(Aug-99)

WAM Investment Portfolio* 15.0% 15.9% 15.4% 13.6% 17.7%

S&P/ASX All Ordinaries Accumulation Index

10.8% 5.7% 8.1% 5.2% 8.4%

Outperformance +4.2% +10.2% +7.3% +8.4% +9.3%

*Investment performance and Index returns are before expenses, fees and taxes

Experienced Board of Directors

Geoff Wilson AOBSc GMQ FFINSIA FAICDNon-independent Chairman

Kate ThorleyBCom CA GAICDNon-independent Director

Gabrielle Trainor AOLLB MA FAICDIndependent Director

Caesar BryanLLBIndependent Director

Geoff Wilson has over 37 years’ direct experience in investment markets having held a variety of senior investment roles in Australia, the UK and the US. Geoff Wilson is the Chairman and Founder of Wilson Asset Management.

Kate Thorley has more than 12 years’ experience in the funds management industry and more than 18 years of financial accounting and corporate governance experience. Kate Thorley is the CEO of Wilson Asset Management.

Caesar Bryan is an international fund manager with 39 years’ investment experience gained primarily with Gabelli Funds, which manages more than US $40bn.

Gabrielle Trainor AO is a highly experienced non-executive director and advisor with over 25 years on public and private boards. Gabrielle’s executive career has spanned law, journalism, government and consultancy.

Strong investment leadership

Geoff Wilson AOChairman & Portfolio ManagerBSc GMQ FFINSIA FAICD37+ years’ market experience

Chris Stott

Chief Investment Officer & Portfolio ManagerB Bus Grad Dip App Fin14+ years’ market experience

Catriona Burns CFA

Lead Portfolio ManagerB Comm M App Fin

14+ years’ Australian and global market experience

Martin Hickson

BBus BComp MAppFin

Portfolio Manager

John Ayoub

LLB BA GradCertAppFin

Senior Equity Analyst

Nick Healy

BEng MBA

Global Equity Analyst

Matthew Haupt CFA

BCom GradDipAppFin

Portfolio Manager

Tobias Yao CFA

BCom

Senior Equity Analyst

Oscar Oberg CFA

LLB BBus

Portfolio Manager

Martyn McCathie

General Manager

James McNamara

BJourn MComm GradDipFin

Head of Corporate Affairs

Jesse Hamilton

BCom CA

Chief Financial Officer

Cooper Rogers

BCom GradDipAppFin

Assistant Dealer

Kate Thorley

BCom CA GAICD

Chief Executive Officer

Robust investment and management team

Proprietary rating process

– Rate management– Rate industry/position– Forecast EPS growth– Valuation

– Buy only when a CATALYST is identified– Sell when valuation reached

Qualitative

Quantitative

Investment case study

Global leader in seamless payments

Why it rated – Industry consolidating, new technology platform, emerging market opportunity

Catalyst– Acquisition integration and earnings upside

Investment case study

Leading mechanical and plant engineering firm with automation expertise

Why it rated – Quality management, strong balance sheet, favourable industry structure

Catalyst– Improving Asian demand and earnings upside

US and global leading economic indicators

Source : OECD

US growth leading the way

US unemployment rate

Global opportunities

Offer summaryASX code WGB

Offer structure Fully paid ordinary shares at $2.20 per share

Minimum raising $16.5 million

Maximum raising $330 million (before oversubscriptions)

Oversubscriptions $220 million

Priority allocation $165 million

Minimum subscription Minimum application amount $2,200

Investment manager Wilson Asset Management

Portfolio managers Catriona Burns, Geoff Wilson, Chris Stott

The investment manager will pay all costs associated with the WAM Global IPO.

Fee structure Management fee: 1.25%Performance fee: 20%

Key dates

Prospectus lodged with ASIC 23 April 2018

Broker firm offer expected to close 1 June 2018

Priority and general offers expected to close 8 June 2018

Shares expected to commence trading on the ASX 22 June 2018

How to investTo participate in the broker firm offer, please contact:

To be emailed a copy of the Prospectus, visit wilsonassetmanagement.com.au/global.To receive a mailed copy of the Prospectus, please contact Boardroom Pty Limited on 1300 737 760.

Joint lead managers

Hamish NairnTaylor Collison Limited

+61 8 8217 3908

Nicholas ChaplinNational Australia Bank Limited

+61 2 9237 9518

Philip Lee Morgans

+61 7 3334 4864

Ross BaildonOrd Minnett

+61 7 3214 5509

Co-managers:

http://www.wilsonassetmanagement.com.au/global

Investing in undervalued growth companies

– Focus on ASX listed small-to-mid cap industrial companies

– Research and market-driven processes

– Focus on ASX top 200 listed companies


– Focus on ASX listed micro-cap industrial companies



– Research-driven process


– Market-driven process

– Focus on ASX top 300 listed companies

– Research, market and investment-driven processes

– Focus on small-to-mid cap international companies


Current wraps and platforms Wilson Asset Management’s listed investment companies are found on 30 wraps and platforms

including:

– PortfolioCare

– North Investments – AMP

– BT Financial Group

– Colonial First Wrap

– Hub24

– ING Direct – Living Super

– IOOF Pursuit Select

– Macquarie Wrap

– The Emerald Wrap

– Netwealth Investment Wrap

Making a difference for our shareholdersand the community

– Six LICs and almost $3 billion in shareholder capital for over 55,000 retail shareholders

– Nine investment professionals with combined investment experience of more than 100 years

– Proven investment approach that has delivered strong returns for over 20 years

– Committed to philanthropic and advocacy initiatives

– Creator and supporter of: Winner of the Listed Investment Companies category at the Professional Planner | Zenith Fund Awards 2014, 2015, 2016 and 2017

May 2018 Shareholder Presentations Launceston & Hobart Canberra Sydney Brisbane

11 May 2018 14 May 2018 15 May 2018 16 May 2018

Hobart: Wrest Point Hotel410 Sandy Bay Road, Sandy Bay TAS 7005 Launceston: Conference Centre50 Glen Dhu StreetSouth Launceston TAS 7249

National Convention Centre 31 Constitution Avenue Canberra ACT 2601

The Westin1 Martin PlaceSydney NSW 2000

Brisbane Exhibition & Convention CentreCnr Merivale & Glenelg StreetsSouth Bank QLD 4101

Presentation:11.00am – 12.30pm




Toowoomba Perth Adelaide Melbourne

17 May 2018 21 May 2018 22 May 2018 24 May 2018

Fitzy’s153 Margaret StreetToowoomba City QLD 4350

Perth Convention & Exhibition Centre21 Mounts Bay RoadPerth WA 6000

Adelaide Convention CentreNorth TerraceAdelaide SA 5000

Melbourne Convention Centre1 Convention Centre PlaceSouth Wharf VIC 3006




Presentation: 10.00am – 12.00pm

Join more than 35,000 weekly readers

wilsonassetmanagement.com.au

Contact [email protected](02) 9247 6755

wam global - cdn.vested.com.aucdn.vested.com.au/ipos/wgb ipo presentation.pdf · this presentation...

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