T H E P O W E R O F A C C E S S
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T H E P O W E R O F A C C E S S Presentation Transcript

  • 1. Global Fund Analysis Excellence in Asset Management 29 th January 2002 Chantal Brennan Portfolio Manager – Equities Micropal Star Rating 3 Year Performance Summary as of 4 January 2002 Source: S&P/Micropal, 4 January 2002 Rating reflects the performance of the AIG Europe Small Companies Fund plc
  • 2. American International Group, Inc. Organisational Strength
    • One of the largest global insurance and financial services companies in the world
    • Member companies operate in approximately 130 countries and jurisdictions
    • Triple-A long-term debt rating by Moody’s and Standard & Poor’s
    • $34.6 billion in equity assets under management*
    * Source: AIG Global Investment Corp. and its affiliates. Dollars in Millions. As of 30 September 2001. Source for other information is AIG internal data.
  • 3. Global Small Companies Equity Strategies Total Small Company Assets U.S. $3,651.2 Million As of 31 December 2001 Small Cap Small Cap Small Cap Small Cap Canadian U.S. Japanese Asian Toronto Tokyo Hong Kong $14.4 $3,477.0 $64.9 $9.5 Dallas Sources: AIG/SunAmerica Asset Management Ltd, AIG Private Bank, John McStay Investment Counsel L.P.; Dollars in Millions, 31 December 2001. * Includes net assets of the AIG Equity Fund European Small Companies and MI – Smaller Stock Europe Small Cap European London / Zurich $85.4 *
  • 4. Analyst Coverage* Source: Bloomberg 31 December 2001 * Based on 100 largest stocks by market capitalisation in each index. Large cap indices: S&P 500 for USA, Toronto Stock Exchange 100 for Canada, MSCI Europe for Europe, MSCI AC Asia ex Japan for Asia, Nikkei-225 Stock Average for Japan. Small cap indices: Russell 2000 for USA, Nesbitt Burns Small Cap for Canada, SSBI European Companies <$1 bn for Europe, SSBI Asia ex Japan $1 bn for Asia, TSE Second Section for Japan. See performance footnotes. Number of Analysts Large Cap and Small Cap Companies 27 14 44 16 15 7 6 8 7 2 0 10 20 30 40 50 USA Canada Europe Asia Japan Large Cap Small Cap
  • 5. Emphasis on Four Earnings Development Phases
    • We speak a common global investment language
    Mode of Investing (Portfolio Construction): Analytical Focus: Soundness of Business Plan Value With a Trigger Timeliness of Investment, Growth at a Reasonable Price Investing in Product/ Company Lifecycles : Growth categories represent the opinion of the Fund Manager. Majority of Holdings Selective Opportunistic MATURE COMPANIES HIGH CYCLICAL GROWTH HIGH STABLE GROWTH EXCEPTIONAL GROWTH First Active Soitec Wedeco Rational
  • 6. Broad-based Sector Coverage Research specialists provide keen insight into themes and trends European Small Companies Equity Team Consumer Discretionary Healthcare Industrials Financials Information Technology Telecoms Energy; Utilities Consumer Staples
  • 7. Searching for Tomorrow’s Winners Business Focus Earnings Sustainability Cash-flow Generation Innovative Management We invest in companies with winning characteristics Companies in high growth industries offering more “competitive space” Companies attacking an established market in an innovative way Companies protected by high barriers to industry entry Management able to think “outside the box”
  • 8. Price History of Vestas Wind Systems Source: Bloomberg and AIGGIG internal data , 1 August 2001 See performance footnotes . We organically build stock positions 100 200 300 400 500 600 0 Jun-99 Oct-99 Feb-00 Jun-00 Nov-00 Mar-01 Jul-01 Bought Initial Position 10 for 1 Stock Split Italian Acquisition Begin Reducing Position in Fund Sell Remaining Shares Initial Analysis
  • 9. European Small Companies Outlook
    • Smaller companies are broadly under-researched and undervalued.
    • There has been a significant lack of news flow from companies regarding their outlook for 2002.
    • Interest rates across Europe appear to have reached a cyclical bottom and are more likely to rise in the future, especially in the UK.
    • Small company Funds are a growing asset class in Europe.
    We have taken all reasonable care to ensure that the details supplied are accurate and to verify statements of fact which we have made. The value of portfolios we manage may fall as well as rise and you may not get back the amount originally invested. Movements in interest rates may cause the value of the portfolio to fluctuate. Past performance is not necessarily indicative of future performance. AIG Global Investment Corp. (Europe) Ltd is regulated by the Financial Services Authority. AIG Global Investment Corp. (Europe) Ltd , Birchin Court, 20 Birchin Lane, London EC3V 9HB, Tel: 020 7335 8100, Fax: 020 7337 0000.
  • 10. Global Fund Analysis Excellence in Asset Management 29 th January 2002 Chantal Brennan Portfolio Manager – Equities Micropal Star Rating 3 Year Performance Summary as of 4 January 2002 Source: S&P/Micropal, 4 January 2002 Rating reflects the performance of the AIG Europe Small Companies Fund plc