November 2015
Disclaimer This presentation has been prepared by Absolute Equity Performance Fund Limited ( AEP ). The information contained in this presentation is for information purposes only and has been prepared for use in conjunction with a verbal presentation and should be read in that context. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. Please note that, in providing this presentation, AEP has not considered the objectives, financial position or needs of any particular recipient. AEP strongly suggests that investors consult a financial advisor prior to making an investment decision. This presentation is strictly confidential and is intended for the exclusive benefit of the institution to which it is presented. It may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of AEP. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of AEP, its related bodies corporate, shareholders or respective directors, officers, employees, agents or advisors, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of information contained in this presentation. This presentation includes “forward looking statements”. 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 AEP and its officers, employees, agents or associates 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. AEP 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. Any offer or sale of securities will be made pursuant to definitive documentation, which describes the terms of the offer ( Offer Document ). An Offer Document for any offer of securities in AEP will be made available when the securities are offered. Prospective investors should consider the Offer Document in deciding whether to acquire securities under the offer. Prospective investors who want to acquire under the offer will need to complete an application form that is in or accompanies the Offer Document. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities of AEP have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (Securities Act) or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States except in compliance with the registration requirements of the Securities Act and any other applicable securities laws or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. NOT FOR DISTRIBUTION IN THE UNITED STATES 2
Agenda About the Company Investment Performance Bennelong Long Short Equity Management - Introduction: Investment Strategy - Value Proposition: Investment Performance, Lower Drawdowns, Risk Reward, Uncorrelated Returns - Investment Process: Example 1, Example 2, Example 3 - Portfolio Snapshot Investment Manager Board of Directors IPO Timetable Roadshow Timetable Communications Conclusion Appendix 3
About the Company The objective is to achieve absolute returns over the medium to long term, through capital growth and income, regardless of market cycles The Company will seek to achieve this by investing in Pair Trades and constructing a portfolio predominantly comprised of large capitalisation Australian equities in a market neutral style that seeks to minimise equity market risk The Investment Strategy is similar to the strategy launched in February 2002. The Investment Strategy has since delivered an average return of 18.14% * , which equates to more than 10% per annum excess returns over the ASX200 during this period The Investment Strategy’s largest drawdown was 12.2% and occurred in the GFC, as compared to the 47.5% fall in the ASX200. The Fund took 6 months to recover the capital from this peak to trough decline compared with the 71 month period for the ASX200 The Company aims to provide shareholders with a source of return that is uncorrelated to all traditional asset classes *Includes Bennelong Securities Management Account February 2002 to June 2008 and BLSEF July 2008 to 30 September 2015. Please note that past performance is not an indication of future returns. 4
Investment Performance The following charts incorporate the pro forma results of Bennelong Securities Management Account between February 2002 and June 2008 (being the account’s actual results recalculated to reflect the identical fund terms of BLSEF) and the historic performance of BLSEF between July 2008 and 30 September 2015. The return calculations for BLSEF and Bennelong Securities Management Account are based on audited accounts. $100,000 Investment Strategy ASX 200 (Accum) $90,000 $10,000 Investment in Feb 2002 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $ 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: Bloomberg 5
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