Official luncheon sponsored by Vanguard Investments Australia Ltd
Annual Meeting of the International Investment Funds Association Macquarie – a global financial services business with a d...
A time-line for Macquarie Headcount Headcount Hill Samuel Australia established Non Operating Holding Company Trading fore...
What is Macquarie? <ul><li>What is Macquarie? </li></ul><ul><ul><li>A commercial bank? </li></ul></ul><ul><ul><li>An inves...
Macquarie’s diverse businesses Asset & wealth management: 27%* Investment banking: 42%* Financial markets: 21%* Lending: 1...
Strong income growth especially internationally * Excluding earnings on capital and after costs directly attributable to e...
Outlook – expect record half year result for the  six months ending 30 September 2007 <ul><li>On 14 September 2007 Macquar...
Macquarie has over 11,000 staff in 24 countries 25% increase since August 2006 Dublin Paris Milan Vienna Rome Amsterdam Lo...
Provider of essential community services around the globe As at 31 March 2007 +700 properties including retail, office, re...
Macquarie’s international strategy <ul><li>Focus where we can add special value </li></ul><ul><li>Market by market, produc...
Macquarie’s specialist funds strategy  <ul><li>How Macquarie differentiates itself from other specialist funds managers: <...
Macquarie’s funds businesses <ul><li>Infrastructure funds </li></ul><ul><li>Real estate funds </li></ul><ul><li>Other spec...
Total assets under management for all funds $A225b   More than   5 times the level of 5 years ago   $Ab $A140b $A97b $A63b...
Macquarie’s funds businesses <ul><li>Infrastructure funds  </li></ul>
Macquarie’s infrastructure funds –  employ approximately 600 staff Airports  (MAp) $A6.9b Roads (MIG) $A9.1b Communication...
Strong return performance IBF Listed Funds Accumulation Index v Major Indices* * As at 30 June 2007.  Accumulation/Total R...
Delivering for communities around the world <ul><li>CHICAGO SKYWAY </li></ul><ul><ul><li>Significantly reduced queuing and...
Macquarie’s funds businesses <ul><li>Real estate funds </li></ul>
Macquarie’s real estate funds Offices  (MOF) $A3.2b Shopping Centres (MCW) $A2.3b Leisure (MLE) $A0.7b US Retail (MDT) $A1...
Macquarie’s real estate funds – strong performance Global index performance -  Macquarie Real Estate LPTs have provided hi...
Macquarie’s funds businesses <ul><li>WRAP </li></ul>
Macquarie Wrap 30-Jun-07 <ul><ul><li>Wrap is a flexible online administration platform designed to suit the needs of a wid...
Macquarie’s funds businesses <ul><li>Cash Management Trust </li></ul>
Macquarie Cash Management Trust Australia’s largest Cash Management Trust – and single largest Managed Fund The Macquarie ...
Macquarie’s funds businesses <ul><li>Securities funds </li></ul>
Macquarie’s securities funds <ul><li>Flagship funds include: </li></ul><ul><ul><li>Australian Small Companies </li></ul></...
Continued growth of specialist funds despite tighter credit markets <ul><li>On 14 September 2007, Macquarie announced: </l...
Annual Meeting of the International Investment Funds Association Macquarie – a global financial services business with a d...
Official luncheon sponsored by Vanguard Investments Australia Ltd
Macquarie - a global financial services business  with a difference ALLAN E MOSS, AO Managing Director and Chief Executive...
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Day 1 - Allan Moss

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  • Sector by Sector Industry specialists driving each business Stable ownership of assets Track record of service Delivery Long term positive relationships with key stakeholders
  • Day 1 - Allan Moss

    1. 1. Official luncheon sponsored by Vanguard Investments Australia Ltd
    2. 2. Annual Meeting of the International Investment Funds Association Macquarie – a global financial services business with a difference 31 October 2007 Allan Moss, Managing Director and CEO, Macquarie Bank
    3. 3. A time-line for Macquarie Headcount Headcount Hill Samuel Australia established Non Operating Holding Company Trading foreign exchange in a grey market Cash Management Trust established Australian dollar ‘floated’ Macquarie Bank established First listed property trust launched “ The Australian specialist” Hills Motorway – Macquarie’s entry into toll roads Hong Kong & New York offices opened MBL lists on the Australian Stock Exchange BT Financial acquisition Sydney Airport transaction Houston Oil and Gas ING Barings Cash Equities acquired Thames Water Macquarie the biggest foreign buyer of US real estate London office opened
    4. 4. What is Macquarie? <ul><li>What is Macquarie? </li></ul><ul><ul><li>A commercial bank? </li></ul></ul><ul><ul><li>An investment bank? </li></ul></ul><ul><ul><li>A diversified financial institution? </li></ul></ul><ul><li>All of the above </li></ul>
    5. 5. Macquarie’s diverse businesses Asset & wealth management: 27%* Investment banking: 42%* Financial markets: 21%* Lending: 10%* Commodities FX, futures, treasury and debt markets Mergers and acquisitions, advisory, underwriting and principal transactions Financial products Equipment and other leasing Other lending Investment banking, real estate and other specialist funds Equity derivatives Institutional cash equities Banking and securitised lending Retail and wholesale funds management and private client broking Real estate lending * Represents contribution to total income as at 31 March 2007
    6. 6. Strong income growth especially internationally * Excluding earnings on capital and after costs directly attributable to earning the income, including fee and commissions expenses. $Am <ul><li>70% increase in international income on pcp from $A2b to $A3.5b despite much stronger $A </li></ul><ul><li>International income 55% of total income*, up from 48% in prior year </li></ul>
    7. 7. Outlook – expect record half year result for the six months ending 30 September 2007 <ul><li>On 14 September 2007 Macquarie made the following outlook comments: </li></ul><ul><li>Expect record first half, up approximately 40% on pcp </li></ul><ul><li>Expect second quarter to be up on pcp; as in most years, down on very strong first quarter </li></ul><ul><li>Investors should exercise caution in drawing inferences from the expected first half result for the full year result especially because of difficulty in predicting market conditions for the remainder of the financial year </li></ul><ul><li>Planning for strategic initiatives: </li></ul><ul><ul><li>Group level management and central strategy unit tasked to identify opportunities </li></ul></ul><ul><ul><li>Slower risk-weighted asset growth </li></ul></ul><ul><ul><li>Continuing to hire quality staff especially in areas where we see special opportunities </li></ul></ul><ul><ul><li>Possible boutique acquisitions </li></ul></ul>
    8. 8. Macquarie has over 11,000 staff in 24 countries 25% increase since August 2006 Dublin Paris Milan Vienna Rome Amsterdam London Dubai Zurich Munich Frankfurt Geneva Abu Dhabi Mumbai Cape Town Johannesburg Auckland Wellington Christchurch Jakarta Bangkok Labuan Singapore Kuala Lumpur Seoul Tokyo Manila Hong Kong Taipei Hsinchu Shanghai Beijing Tianjin Sao Paulo Chicago Toronto Montreal Jacksonville Savannah Miami San Jose San Francisco Seattle Vancouver New York Boston Carlsbad Los Angeles Irvine San Diego Houston Denver Sunshine Coast Brisbane Broadbeach Sydney Newcastle Canberra Melbourne Adelaide Perth Calgary Winnipeg New Delhi Troy Atlanta As at 31 Aug 2007 Manchester NORTH AMERICA 1,225 staff SOUTH AMERICA 23 staff NEW ZEALAND 112 staff AUSTRALIA 6,747 staff AFRICA 42 staff ASIA 1,806 staff EUROPE & MIDDLE EAST 1,105 staff
    9. 9. Provider of essential community services around the globe As at 31 March 2007 +700 properties including retail, office, residential, leisure & industrial Real Estate +65,000 across the assets Employees +6.0 million passengers per annum Ferries 300 million passengers per annum Buses +7,500 beds / +7,700 units Aged Care / Retirement Villages 2.7 million passengers per annum Rail 83 million people are reached by Macquarie’s television, telephone and radio infrastructure, and cable and newspaper services Communications 1.2 million households +5.2 million households 6.9 million households 1.7 million cars per day +115 million passengers per annum Water Services Electricity Distribution Gas Distribution Toll Roads Airports
    10. 10. Macquarie’s international strategy <ul><li>Focus where we can add special value </li></ul><ul><li>Market by market, product by product </li></ul><ul><li>Co-operative relationships with domestic market participants </li></ul><ul><li>Mostly organic growth </li></ul><ul><li>Strong risk management </li></ul><ul><li>Delivering value for communities </li></ul>
    11. 11. Macquarie’s specialist funds strategy <ul><li>How Macquarie differentiates itself from other specialist funds managers: </li></ul><ul><ul><li>Specialist industry expertise </li></ul></ul><ul><ul><li>Global reach </li></ul></ul><ul><ul><li>Staff numbers </li></ul></ul>
    12. 12. Macquarie’s funds businesses <ul><li>Infrastructure funds </li></ul><ul><li>Real estate funds </li></ul><ul><li>Other specialist funds </li></ul><ul><li>WRAP (an online admin platform) </li></ul><ul><li>Cash Management Trust </li></ul><ul><li>Securities funds </li></ul>
    13. 13. Total assets under management for all funds $A225b More than 5 times the level of 5 years ago $Ab $A140b $A97b $A63b $A52b $A41b $A197b $A225b*
    14. 14. Macquarie’s funds businesses <ul><li>Infrastructure funds </li></ul>
    15. 15. Macquarie’s infrastructure funds – employ approximately 600 staff Airports (MAp) $A6.9b Roads (MIG) $A9.1b Communications (MCG) $A3.2b* Media (MMG) $A1.0b Korean Infrastructure (MKIF) $A3.1b * Approximately 600 Australian towers, 1,150 UK towers, 3,500 UK emergency service towers, 8,600 UK wireless mobile sites and 2,250 US towers. Above figures represent total market capitalisations of the respective funds as at 30 June 2007. MKIF is jointly managed with Shinhan Financial Group
    16. 16. Strong return performance IBF Listed Funds Accumulation Index v Major Indices* * As at 30 June 2007. Accumulation/Total Return Index assumes reinvestment of all distributions on the ex-distribution date and no further participation in subsequent capital raisings.
    17. 17. Delivering for communities around the world <ul><li>CHICAGO SKYWAY </li></ul><ul><ul><li>Significantly reduced queuing and up to 30 minutes shorter travel times* </li></ul></ul><ul><ul><li>Significant capital expenditure program underway to alleviate congestion and improve accessibility </li></ul></ul><ul><li>SOUTH BAY EXPRESSWAY </li></ul><ul><ul><li>2006 ‘Pioneer’ Award from the South County Economic Development Council for outstanding contribution to economic development of south San Diego County region </li></ul></ul><ul><ul><li>2007 Environmental Enhancement Project of the Year from California Transportation Foundation for its biological mitigation programme </li></ul></ul><ul><ul><li>WESTLINK M7 </li></ul></ul><ul><ul><li>Travel times reduced by up to 30 minutes** </li></ul></ul><ul><ul><li>Additional 24,000 jobs and $A3b in economic output + </li></ul></ul><ul><ul><li>Fewer trucks on local roads </li></ul></ul>*Time saving estimated by Skyway. ** NSW Government release. + Within 3 yrs of opening per Greater Western Sydney Economic Board estimate.
    18. 18. Macquarie’s funds businesses <ul><li>Real estate funds </li></ul>
    19. 19. Macquarie’s real estate funds Offices (MOF) $A3.2b Shopping Centres (MCW) $A2.3b Leisure (MLE) $A0.7b US Retail (MDT) $A1.1b Asia Real Estate (MEAG) $A0.9b Above figures represent market capitalisation as at 28 September 2007 Real Estate (MGPA)
    20. 20. Macquarie’s real estate funds – strong performance Global index performance - Macquarie Real Estate LPTs have provided high risk-adjusted returns and outperformed major global REIT indices over the last 10 years Accumulated return on the Macquarie LPTs is calculated assuming that an investor acquired an initial portfolio on 31 March 1997 (weighted by market capitalisation at that date) and then participated (pro rata) in every capital raising undertaken by each Macquarie LPT over the period shown. Macquarie LPTs currently included in the index are MOF, MCW, MLE, MDT, MPR. Past performance is not a reliable indicator of future performance. Source Macquarie Real Estate as at 31 March 2007.
    21. 21. Macquarie’s funds businesses <ul><li>WRAP </li></ul>
    22. 22. Macquarie Wrap 30-Jun-07 <ul><ul><li>Wrap is a flexible online administration platform designed to suit the needs of a wide variety of clients and their advisers : </li></ul></ul><ul><ul><li>- accesses a range of direct shares and managed investments </li></ul></ul><ul><ul><li>- consolidates reporting on all investment to intermediaries and their clients </li></ul></ul><ul><ul><li>- manages the paperwork </li></ul></ul><ul><ul><li>- works with a central cash account </li></ul></ul><ul><ul><li>- available for ordinary money, superannuation, pensions and other investments </li></ul></ul>Rated No. 1 2007 for Best Wrap platform and service excellence Service levels No. 1 in Dec Qtr 2006 Inflows 60,000 accounts Clients 2,500 Advisers 350 Dealer groups (includes Independent Financial Advisers, Stockbrokers, Institutional clients) $A26bn Current FUA
    23. 23. Macquarie’s funds businesses <ul><li>Cash Management Trust </li></ul>
    24. 24. Macquarie Cash Management Trust Australia’s largest Cash Management Trust – and single largest Managed Fund The Macquarie CMT provides financial advisers with an admin tool that enables them to monitor and manage their clients’ investment cashflows Strong growth in Q207 due to changes in Australian super legislation CMT FUA now $A18.6b
    25. 25. Macquarie’s funds businesses <ul><li>Securities funds </li></ul>
    26. 26. Macquarie’s securities funds <ul><li>Flagship funds include: </li></ul><ul><ul><li>Australian Small Companies </li></ul></ul><ul><ul><li>Diversified Fixed Interest </li></ul></ul><ul><ul><li>Global Property Securities </li></ul></ul><ul><ul><li>Global Private Equity </li></ul></ul>Macquarie manages securities funds covering all asset classes across the risk spectrum, with $A64 billion in assets under management as at July 2007.
    27. 27. Continued growth of specialist funds despite tighter credit markets <ul><li>On 14 September 2007, Macquarie announced: </li></ul><ul><li>Asset Performance </li></ul><ul><ul><li>Assets continue to perform well </li></ul></ul><ul><li>Refinancings </li></ul><ul><ul><li>Still being achieved on reasonable terms </li></ul></ul><ul><ul><ul><li>Investment Banking Funds: approximately 2% of total asset debt due for refinancing over next 12 months </li></ul></ul></ul><ul><ul><ul><li>Real Estate Funds: approximately 3% of total asset debt due for refinancing over next 12 months </li></ul></ul></ul><ul><li>Significant capital available for investment </li></ul><ul><ul><li>Investment Banking Funds $A9.6b* </li></ul></ul><ul><ul><li>Real Estate Funds approx $A3.7b** </li></ul></ul><ul><li>Conservative debt ratios </li></ul><ul><ul><li>the average gearing for assets managed by Macquarie’s specialist funds is </li></ul></ul><ul><ul><ul><li>58% for infrastructure funds (debt/debt + equity) </li></ul></ul></ul><ul><ul><ul><li>48% for real estate funds (debt/debt + equity) </li></ul></ul></ul>As at 31 August 2007. *Listed funds – cash available for investment; unlisted funds – investor commitments less capital invested or committed to investments. For jointly managed funds the amount is representative of Macquarie’s share in the JV manager. **Macquarie and associates
    28. 28. Annual Meeting of the International Investment Funds Association Macquarie – a global financial services business with a difference 31 October 2007 Allan Moss, Managing Director and CEO, Macquarie Bank
    29. 29. Official luncheon sponsored by Vanguard Investments Australia Ltd
    30. 30. Macquarie - a global financial services business with a difference ALLAN E MOSS, AO Managing Director and Chief Executive Officer Macquarie Bank Limited, Australia

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