Introduction. Agenda. Markin Hall & Trading Floor. TAM s Mission & Investment Policy. Competitive Advantage. Conclusion. Introduction.
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1 INTRODUCTION EXECUTIVE TEAM EXECUTIVE TEAM Srecko Ponjavic, CEO Todd Sutcliffe, CFO Justin Mayerchak, COO Srecko Ponjavic CEO President Integrity Positive Attitude Aim For excellence Personal Connection Todd Sutcliffe CFO VP of Candidness Mentoring Reward Success Justin Mayerchak COO VP of Strategy Value of Hard Work Accountability Relationship Building Introduction Executive Team AGENDA AGENDA Markin Hall Securities Our Mission & Economic Situation Value Investing Industry Selection Objectives Back Testing Portfolio Return Team MARKIN HALL & TRADING FLOOR MARKIN HALL & SECURITIES TRADING FLOOR State of the art educational building Housing Management Faculty and Faculty of Health & Sciences Will be one of Canada s foremost learning environments Future home of Taurus Asset Management Trading Floor Real time access to financial markets around the world Agenda Markin Hall & 1
2 TAM s MISSION & INVESTMENT POLICY TAURUS ASSET MANAGEMENT s Mission & Mission: To create an endowment fund to be used to cover the costs associated with the Markin Hall and give students a competitive advantage in the work place through hands on experience (managing an endowment fund) Initial Investment = $500, Primary Objective = Growth of Income Secondary Objective = Capital Appreciation Investment Constraints No more than 10% in any one security Bond funds can consist of up to 15% Short selling not permitted No margin purchases Real Estate & Private Equity not permitted TODAY : ECONOMIC SITUATION ECONOMIC INDICATORS (change from ) EURO UNION INDIA CHINA UNEMP Rate 8.5% ( 9.57%) 7.2% ( 8%) 4% 9% GDP T $US (-1.5%) T $US (-21.7% ) 4.22 T $US (-18%) Inflation 1.7% (-10%).031% (-94.6%).08% (-88%) SOURCES: International Monetary Fund, World Bank, CIA World Fact book, Asian Development Bank Mission : ECONOMIC SITUATION : ECONOMIC SITUATION 5.1 Million Jobs Lost Since 2007 Unemployment Rate: 8.5% (April, 09) Consumer Confidence Index = 25.3% Lowest Since Inception (1967) GDP Q1 08 = 0.9%, Q2 08 = 2.8&, Q3 08 =.05%, EXPECTED Q4 08 = 5.4% ** (Worst since 1982) Bail Out Money :$ 10.5 trillion allocated $2.6 trillion Spent $1.8 Trillion & $1.4 Trillion Deficit in 2009, 2010 (13%, 11% of GDP) Obama budget could force USA to borrow 9.3 Trillion over next 10 years* ** Source: BEA. Gov * Source: Congress Budge Office (CBO) Unemployment Rate = 7.7% approx 300,000 jobs lost in past 4 months Oil Price = $52.10 ( 64% since high of $147 per barrel) Natural Gas = $3.801 ( 65% since high of approx $11.50 per MBtu) Consumer Price Index = 1.4% Gross Domestic Product = 1.7% NO FINANCIAL BAIL OUTS only bridge loans 2
3 : INDUSTRY SELECTION FOSSIL FUELS Oil, Natural Gas, Coal Alberta s vast resources AGRICULTURE Long term threat water availability TRANSPORTATION Decreased gas prices; highly correlated with economy ALTERNATIVE ENERGY Massive potential in alternative energies, long term Solar Power, Bio Fuels, Wind Power, Hydro Electricity : VALUE / TIME HORIZON From Economic, Two Conclusions Made: Vl Value Investing Strategy Investors have lost nearly half their wealth since 07 Many securities are undervalued because of large systematic risk, not because of firm profitability We have developed a unique qualifying process utilizing VIS Time Horizon Specific Strategy Focus locally, regionally & defensively in the Short Term (2 years) Diversify internationally & higher beta equities Long Term (5+ years) : INDUSTRY SELECTION CHEMICAL Petrochemicals, Fertilizers, Inorganics, Specialty / Fine Sector has outperformed others since Sept 2007 HEALTHCARE Bio tech, Pharmaceuticals, Life Sciences Defensive in nature INFORMATION TECHNOLOGY Highly correlated with economic conditions FINANCIAL World stimulus required Rules and regulations will change going forward EXPECTED RETURN Primary Objective: Growth of Income Cover costs of trading floor payout 6.2% annually Dividend & Coupon Payments Secondary Objective: Capital Appreciation Assumed inflation of 2.56% (10 yr CPI avg +.5%) Capital Appreciation is expected to be 1.75% Overall Expected Return = 10.5 % Year over Year 3
4 HISTORIC RETURNS SELECTION CRITERIA IN ACTION SELECTION CRITERIA COMPANY PERFORMANCE INDUSTRY AVERAGE MARKET CAP B $US N / A RETURN ON ASSETS 35.01% 13.77% RETURN ON EQUITY 64.01% 29.46% NET PROFIT MARGIN 37% 13.40% SELECTION CRITERIA RETURN ON ASSETS DEBT TO EQUITY BETA RETURN ON EQUITY DIVIDEND YIELD PRICE/EARNINGS RATIO MARKET CAPITALIZATION SHARPE RATIO STANDARD DEVIATION INDUSTRY BREAKDOWN CURRENT RATIO TRADING VOLUME RELATIVE NEWS ** Quality of Earnings 4
5 ASSET ALLOCATION 29% Asset Allocation 2% 2% 39% 28% US Equity CAN Equity US Fixed EUR Equity Cash SYNTHETIC BENCHMARK SYNTHETIC BENCHMARK CATEGORY WEIGHT BENCHMARK US Equities 28% S&P 500 Index Canadian Equities 39% S&P/TSX Composite Index European Equities 2% FTSE EUROTOP 100 Index American Bonds 29% Vanguard Total Bond Market Index Cash 2% 10 Year Canadian CPI Average 18% 16% 14% ASSET ALLOCATION 15.63% Expected Return by Asset Class BACK TESTING YEARLY PORTFOLIO RETURNS % 12% 10% 8% 6% 4% 2% 0% 8.62% 5.67% 6.23% Canadian Equity US Equity International Equity US Fixed Income % % Average return during back testing was 13.6%, far exceeding our required rate of return 5
6 800, , TIME SERIES Portfolio historical returns ( ) y = x - 9E+06 R² = PORTFOLIO CHARACTERISTICS SHARPE RATIO BETA , , , , , Portfolio historical returns ( ) Linear (Portfolio historical returns ( )) DIVIDEND YIELD 4.48% EXPECTED INCOME GENERATION EXPECTED PORTFOLIO RETURN $22, Per Year 10.5% or $52,500 PY 450, /02/ /03/ /04/ /06/ /07/2009 EFFICIENT FRONTIER TAM PORTFOLIO CML CML COMPETITVE ADVANTAGE COMPETITIVE ADVANTAGE: MARKETING COMPONENT Marketing Students Add marketing arm to Org. Structure Marketing team will attract investment Tax Receipts Will be provided for donations to SEF Enhance Student Learning Will aid in training finance (marketing) professionals Unique Experience Attract students to Management Faculty Alberta Appeal Focus investment in Alberta Competitive 6
7 CONCLUSION CONCLUSION Presentation Summary: Markin Hall / Both will provide competitive advantage for students and University Economic / Industry Value Investing Time Horizon Specific Strategy Security / Portfolio Goals 10.5% return annually; more then sufficient Competitive Marketing aspects Conclusion TAURUS TEAM TAURUS ASSET MANAGEMENT TEAM Taurus Team 7
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