Hunter Hall Global Value Limited

Hunter Hall Global Value Limited (HHV)

Fact Sheet – 30 June 2015

Objectives

The objective of Hunter Hall Global Value Limited (HHV) is to achieve substantial growth in the value of each share through ownership of a portfolio of undervalued international and Australian equities.
Furthermore, Hunter Hall follows an ethical investment policy which seeks to avoid investment in companies that, in our opinion, are harmful to people, animals or the environment.

INVESTMENT STRATEGY

  • The portfolio is managed jointly by Peter Hall, Chief Investment Officer and James McDonald, Deputy Chief Investment Officer and Fund Manager. They are supported by a team of experienced investment professionals.
  • HHV primarily invests in companies listed on the Australian and international stock exchanges. It has a bias to small and mid-size companies
  • HHV is managed using a ‘value’ investment style based on fundamental analysis of individual companies.
  • A concentrated portfolio of typically no more than 60 stocks.
  • HHV can hold up to 25% cash, and
  • Currency exposures may be hedged primarily through short to medium term forward contracts

BENEFITS OF INVESTING

  • Committed to creating wealth for shareholders over the long term
  • Invest in a global equity portfolio via the ASX
  • Access to Hunter Hall’s superior investment experience and expertise
  • Six-monthly dividends
  • Participation in a Dividend Reinvestment Plan (DRP), allowing savings from brokerage fees
  • Geographically diverse portfolio

ETHICAL INVESTING

Hunter Hall is committed to the concept of responsible investing. The Ethical Investment Policy of HHV involves applying a negative screen to investments. This screening process seeks to avoid investment in companies that derive operating revenues from direct and material business involvement in the manufacture or sale of weapons and weapons components, tobacco manufacture, gambling outlets or systems, intensive animal farming, animal testing for cosmetics, activities that give rise to human rights violations, unremediated destruction of the environment, uranium mining and nuclear reactors and the exploration, production, refining, storage and transportation of fossil fuels.
 

KEY FACTS

ASX Code: HHV
Investment Manager: Hunter Hall Investment Management Limited
Inception Date: 19 March 2004
Benchmark MSCI World Total Return Index, Net Dividends Reinvested, in Australian Dollars (MSCI World)
Territory: Global (includes Australia and New Zealand)
Ethical Policy: Negative Screen
Market Capitalisation: $289.25m
Equity Exposure 89.60%
Net Debt:1 $0m debt, $33.12m cash
Management Fee: 1.50%
Management Fee Rebate: Nil
Performance Fee 15% of any return greater than the MSCI World, payable half yearly
Dividend Reinvestment Plan Yes
1based on audited figures.

NET TANGIBLE ASSETS SUMMARY

NTA (pre-tax) $336.55m
NTA per share (pre-tax)1 141.78c
Ordinary Shares on Issue 241.04m
Share Price $1.20
Premium/(Discount) to NTA (pre-tax) (15.36%)
Annual Dividend Yield2 5.83%
1Includes deferred income tax asset of 2.16c.
2Calculated based on the dividends paid out over the previous 12 months and using the closing share price at 30 June 2015.

CONTACT US

Barbara Glover
Head of Retail Sales & Marketing

Telephone:
1800 651 674
0800 448 305 (NZ)
+61 2 8224 0300 (International)

Facsimile: +61 2 8224 0333
Email: invest@hunterhall.com.au
Website: www.hunterhall.com.au

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Portfolio Manager

James Fisher McDonald – B.Com., L.L.B.

Mr McDonald is Executive Director of the international subsidiary Hunter Hall International (UK) Limited and Deputy Chief Investment Officer and Senior Portfolio Manager of Hunter Hall Investment Management Limited.
Mr McDonald was based in Hunter Hall's London office between 2003 and 2015. He focuses on the European, American and Japanese markets. As Deputy Chief Investment Officer he contributes to asset mix, capital allocation, team management and team selection decisions.
Mr McDonald has 18 years of industry experience, including six years at BT Funds Management in the positions of Japanese Electronics Analyst and US Telecoms, Telecoms Equipment and Data Networking Analyst.

RELATIVE PERFORMANCE (%)

  Compound Annual Return
  1 month 6 months 1 year 3 years 5 years 7 years Since inception
Absolute Performance – HHV -1.1 9.4 30.0 25.3 13.7 8.5 8.1
Benchmark – MSCI World ($A) -2.7 9.3 24.6 25.8 15.3 8.7 6.5
Relative Performance 1.6 0.1 5.4 -0.5 -1.5 -0.3 1.6
Source: Hunter Hall. Performance figures refer to the movement in net assets per share, including share buy-backs and the reinvestment of dividends, but excluding tax and the effect of option exercises. Past performance is no guarantee of future performance and no guarantee of future return is implied.

TOP 10 HOLDINGS

Company Main Business Country Net Assets (%)
Sirtex Medical liver cancer treatments Australia 15.1
M2 Telecommunications telecommunications Australia 4.6
St Barbara gold explorer and producer Australia 3.9
Citigroup bank USA 3.5
JDS optical components USA 3.3
Take Two Interactive interactive entertainment USA 3.3
Greenlight Re reinsurance USA 3.0
Yahoo digital content USA 3.0
Seven West Media diversified media Australia 2.6
Bank of New York Mellon financial services USA 2.5

COUNTRY ALLOCATION

(as a percentage of net assets)
 

SECTOR ALLOCATION

(as a percentage of net assets)
 

HOW TO INVEST

Hunter Hall Global Value Limited shares are traded on the Australian Securities Exchange (ASX) under the ticker code “HHV”. If you are a first time investor, you purchase shares through a stockbroker in the same way as you buy shares in other companies. If you do not have a stock broker, the ASX provides a service which can assist you in choosing a stock broker. Please visit their site on: http://www.asx.com.au/education/first-time-investors.htm. Once you become a shareholder, you may be able to participate in the Company’s Dividend Reinvestment Plan (DRP) or future Share Purchase Plan (SPP) if any. These plans are offered at the Director’s discretion

IMPORTANT INFORMATION:

Hunter Hall Global Value Limited or any related entity does not guarantee the repayment of capital or any particular rate of return from the Company. Past performance is no guarantee of future performance. This document does not take into account a reader’s investment objectives, particular needs or financial situation. It is general information only and should not be considered investment advice and should not be relied on as an investment recommendation.