The Acta Group. Investor presentation at Rogaland på børs. CFO Christian Tunge. 7 th September 2011

Transcription

1 Disclaimer: Unaudited Q2 and 1H figures. This presentation contains certain forward-looking statements that involve risks and uncertainties. All statements other than statements of historical facts are forward-looking statements and must not be understood as any guarantees for the future. The Acta Group Investor presentation at Rogaland på børs CFO Christian Tunge 7 th September 2011

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3 Agenda Future potential The Acta Group today Financial crisis

4 Agenda Future potential The Acta Group today Financial crisis

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6 IN THE MIDDLE OF THE FINANCIAL CRISIS WE BUILT A NEW ACTA From an advisory company to a leading Nordic financial services group 6

7 Revenue shifts Upfront Up-front fees will constitute a smaller portion of total revenues Margins and transaction fees under pressure Management fees will be more important R E V E N U E S Success Arranger Management 7

8 Competitive situation ü Increased entry barriers ü Existing market participants will have an advantage ü Acta has a competitive advantage of having an effective control and compliance function ü Less competition from other suppliers of investment advisory services ü Fierce competition in HNWI segment primarily from banks 8

9 Regulatory environment and Finanshuset Acta s response Radical changes in industry - MiFID regulators interpretation Neutral advice Independent advice Remuneration Fee structure Financial crisis ex post - Demand for liquidity and simple fundstructures Neutral fee structure Neutral remuneration system 9

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11 Agenda Future potential The Acta Group today Financial crisis

12 The Nordic region - one of the most affluent regions in the world Acta holds a strong market position in Norway and Sweden, and also has a few customers in Denmark and Finland Strong local presence 12 advisory offices in Norway 12 advisory offices in Sweden Investment brokers in Stavanger and Stockholm Markets organization in Oslo 275 permanent employees 175 in Norway 100 in Sweden Danish and Finish customers are serviced from the Main Office in Stavanger 12

13 Objectives Business idea Provide clients with good returns Vision Acta is a leading Nordic financial services group Strategy Wealth Management Markets 13

14 Services Wealth management Reporting Custody, Dealing & Settlement Investment Management Investment advisory Securities Investment brokering Investment trading online Corporate finance 14

15 Organisation Acta Holding Acta Support Corporate Services Acta Kapitalforvaltning Acta Finans Wealth Management Norway Acta Asset Management Sweden Norway Markets Acta Markets Sweden Wealth Management Investment advisory Investment brokering Corporate Finance Investment Management Securities 15

16 Product Offering Mutual funds * Bonds * Unit linked * Real estate * Shipping * Private Equity * Infrastructure * Structured products * Renewable Energy 16

17 Suppliers 17

18 89,000 clients 37,000 in Norway 52,000 in Sweden 18

19 Assets under Management NOK 58 billion Mutual funds Unit Linked Real estate Other 19

20 Equity under Management NOK 29 billion Mutual funds Real estate Unit Linked Other 20

21 Portfolio account a success Share of client equity in portfolio account (%) NOK 8.4 billion of approximately 29 billion in portfolio account by the end of 2Q11 Portfolio account 29 % Trade account 71 % Goal for 2012: 50 % Goal for 2014: 75 % 21

22 Operating earnings improving 30 Operating earnings (mnok) Q08 1Q09 3Q09 1Q10 3Q10 1Q

23 Recurring revenues vs fixed and activity based costs 600 " Targets 2011 Fixed and activity-based costs equal to 2010-levels To cover fixed and activitybased costs by recurring revenues E Recurring reveneus Rec. revenues - costs Fixed and activity based costs 11E includes first half of 2011 and targets in mellow colors. 23

24 Agenda Future potential The Acta Group today Financial crisis

25 Market potential " 25 million people in the Nordic region 1) " GDP per capita 2) Norway: $ Sweden: $ United States: $ European Union: $ The Nordic HNW client is 50 years old, made his wealth through entrepreneurship or employment earnings, invests heavily in equities, but also maintains significant fixed income and cash holdings. He is also increasingly interested in alternative investments 3) 1) Source: norden.org 2) Source: International Monetary Fund ) Source: Report - Wealth Management in the Nordic Region 2008, by Datamonitor 25

26 Market segments The strategic segment is individuals with net investable assets (NIA) of between NOK 500,000 and NOK 25 million Advisory: NIA > NOK 500k Investment brokers: NIA > NOK 100k Acta s strategic segment is between the traditional savings banks branch network and private banking target groups 26

27 Total market - High Net Worth Individuals 1) HNWI 2006E AUM EUR Billion HNWI IN % of GNP Denmark Sweden Finland Norway Total ) Defined as capital from clients with more than NOK 2 million in investable holdings 1) Source: McKinsey, Arctic Securities 27

28 New business model going forward Client equity in portfolio account (bnok) % % % Recurring revenues (mnok) " Recurring revenues to increase due to increased client equity through portfolio account 28

29 Acta is well positioned Repositioning of Finanshuset Acta completed Broader services provided Attractive product offering Stable customer base and equity under management Competent and enthusiastic organization Profitable new business model for Wealth Management Transaction Opportunities for Markets 29

30 Q & A Contact information: Head of IR: Jo-Inge Fisketjøn Phone: jo-inge.fisketjon@acta.no