Standard Clime Presentation August 2010
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Clime Asset Management is an Australian fund manager that manages approximately $200 million for clients. It has a team of experienced investment professionals and a distinct investment process that focuses on capital preservation, sustainable return on equity, and investing when share prices are below the intrinsic value. Clime manages both discrete portfolios for high net worth individuals and unlisted unit trusts for retail and wholesale investors, with funds under management totaling around $62 million for the latter.
![Introducing Clime Asset Management ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Standard Clime Presentation August 2010
- 1. Clime Asset Management Real investing. Real value.
- 4. Portfolio overview and performance
- 6. We manage approx $200 million for clients
- 8. Discrete Share Portfolios for HNW individual’s of $100 million
- 9. Unlisted Unit Trusts approx $35 million
- 10. Historically our clients are wholesale investors and HNW individuals
- 11. We have 2 Unlisted Unit Trusts for retail investors:
- 12. Clime High Yield Underdogs Fund FUM (2 years old) $6m
- 14. Clime Investment Management Ltd is listed on the Australian Stock Exchange. (ASX:CIW)Strong balance sheet: $23 million of tangible assets & no debt 16 employees 20% of the company owned by staff & directors Two operating businesses: Clime Asset Management MyClime - online company research and valuation service
- 16. An experienced investment team John Abernethy B. Com & LL.B Chief Investment Officer Paul Jensen B. Com, FAICD Chairman, Investment Committee Investment Analysts Guy Carson B. Com, M. Bus Vincent Chin PhD Physics, MSc Physics, BSc Chemical Engineering, F. Fin Matthew Koroi George Whitehouse B. Ed, Adv. Dip Eng
- 17. Clime’s investment portfolios * Distinct investment process from all other Clime Investment Portfolios
- 18. Clime Australian Value Fund Annualised Investment Performance – 31 July 2010 Annualised investment performance is after management fees, administration fees and applicable taxes to 31 July 2010. Distributions are taken to have been paid as cash.
- 19. Clime High Yield Underdogs Fund Annualised Investment Performance – 31 July 2010 Annualised investment performance is after management fees, administration fees and applicable taxes to 31 July 2010. Distributions are taken to have been paid as cash.
- 20. Discrete Portfolios Annualised Investment Performance – 31 July 2010 Annualised investment performance is after all applicable fees and taxes to 31 July 2010.
- 21. Core investment beliefs Capital preservation is essential to maximise long term returns. The sustainable ROE of a company will determine the value of the company. The company’s share price will eventually reflect the intrinsic value of the company in the medium term.
- 22. Capital preservation is essential to maximising long term returns Preserving capital maximises investment returns
- 24. The measure of profitability is the company’s ROE.
- 26. While the price is observable and known, the intrinsic value has to be estimated.
- 27. Estimating the intrinsic value requires knowledge, insight and expertise. We do this by looking at the investment characteristics of each company.
- 28. We identify companies who have attractive investment characteristics.
- 30. We screen ASX listed companies for their historical ROE
- 31. Attractive investment characteristics How does it make money? What is the sustainable ROE? Words vs actions? Sensible capital management? Can it increase? Is there regular cash flow? Appropriate levels for the business model?
- 33. We study the Australian and global economies, analysing the impact on companies.
- 34. We invest in ASX listed company securities (equity, hybrid, debt) that have attractive investment characteristics and where their share price is below our assessment of the value of the business.
- 35. If we cannot find investments that meet these requirements, we will hold cash.
- 37. Access to experienced managers with 25+ years managing financial risk
- 38. A sound record of investment outperformance
Editor's Notes
- The Intention of this presentation is to establish Clime Asset Management’s credibility and gain the trust of the recipient.
- At 31 December 2009: $23 million NTA; Cash $4m; Listed investments $9m; Unlisted investments $10mWe co-invest with our investors in our funds.
- This is our company in a nutshellLet’s now take a look at what is meant by ‘value investing’
- This is our company in a nutshellLet’s now take a look at what is meant by ‘value investing’
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- But we don’t just look at the company. We look at the overall economy too.The economy creates the investment environment.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.
- Profit is what the company makes (in a year); the difference between earnings and costs. But we say there is a difference between the profit and the profitability. To understand the profitability, or the return, you need to know what the investment is.So: what needed to be invested to make the profit? Eg. House $100,000. The return on the investment is 12%.