Published on June 4, 2014
© 2014 FIIG Securities Limited | www.fiig.com.auFIIG Securities Limited | ABN 68 085 661 632 | AFS Licence No. 224659 FIIG Securities Connecting SMSFs with PPP opportunities National PPP Summit June 2014
© 2014 FIIG Securities Limited | www.fiig.com.au SMSFs are now Australia’s largest and fastest growing superannuation sector PAGE 2 Source: InvestmentTrends, 2014
© 2014 FIIG Securities Limited | www.fiig.com.au Main goal of SMSFs is to build sustainable income PAGE 3 9% 12% 33% 40% Protecting Existing Assets Against Market Falls Maximising Capital Growth Balance of capital growth & managing risks Building Sustainable Income Stream What is your main goal when selecting investments ? Source: InvestmentTrends, 2014, FIIG Analysis
© 2014 FIIG Securities Limited | www.fiig.com.au Infrastructure and Bonds are emerging as the highest growth investment sectors PAGE 4 25% 33% 61% 75% 133% Monthly Income Fund Absolute Return Fund ETFs/ETOs Corporate Bonds Infrastructure Funds % Change Expected Source: InvestmentTrends, 2014, FIIG Analysis
© 2014 FIIG Securities Limited | www.fiig.com.au FIIG’s investor base has a strong appetite for infrastructure investment PAGE 5 40% 12% 26% 1% 3% 18% Airports - Sydney Airport 2020 - Sydney Airport 2030 Energy - Envestra - Electranet PPP - Melbourne Convention Centre - NSW Schools - Royal Women's Hospital - Praeco Property - ALE Property Trust Transport/Distribution - Adani Abbot Point Coal Terminal - Dampier Bunbury NG Pipeline - Dalrymple Bay Coal Terminal Mix of FIIG Infrastructure Debt in Custody Source: FIIG Analysis
© 2014 FIIG Securities Limited | www.fiig.com.au FIIG has an established track-record for issuing corporate bonds with a focus on SMSFs PAGE 6 $100m Rated $50m Unrated $50m Unrated $120m Unrated $35m Unrated $55m Unrated $60m Unrated $50m Unrated $30m Unrated
© 2014 FIIG Securities Limited | www.fiig.com.au Case Study - Adani Abbot Point Terminal Pty Ltd Date Issuer Offer Size Company Overview Key Offer Terms Adani Abbot Point Terminal Pty Ltd (Baa3/BBB-) $100 million (upsized from $75 million) AAPT operates the northernmost coal loading terminal in Queensland, with capacity of 50 million tonnes per annum. The terminal has been operational since 1984, previously run by the Queensland government Ranking: Senior Secured Notes Term: 6 years Call option: Make whole at any time Coupon: 6.1% fixed Spread: 250bps to mid-swaps UOP: Dividend Recap • FIIG Securities was the Sole Lead Arranger of the AAPT Notes transaction • The offer demonstrated FIIG’s capacity to place investment grade paper in benchmark volumes in addition to our traditional high yield capability May 2014 Order Book Analysis #Holders Volume On Issue 423 $100.00m Client Type SMSF 299 $29.19m HNW/UHNW 119 $32.81m Institutional 5 $38.00m Bid Size $50k 186 $9.30m $50k - $100k 146 $13.82m $100k - $1m 85 $26.78m $1m + 6 $50.1m PAGE 7
© 2014 FIIG Securities Limited | www.fiig.com.au Conclusion PAGE 8 • SMSF investors represent a large and growing capital pool which is well educated and has a concentration of sophisticated investors • Infrastructure bonds issued by PPPs and other vehicles that own infrastructure are appealing to these investors • PPPs should consider this pool of capital as a viable alternate capital source for issuing long term bonds • Long tenor and inflation linked bonds are particularly attractive • FIIG can assist with connecting issuers to these investors
www.fiig.com.au © 2014 FIIG Securities Limited | 9 FIIG Securities Limited | ABN 68 085 661 632 | AFS Licence No. 224659 Disclaimer FIIG Securities Limited (“FIIG”) provides general financial product advice only. As a result, this document and any information, advice or recommendation has been provided by FIIG without taking account of your objectives, financial situation or needs. Because of this, you should before acting on any information, advice or recommendation from FIIG consider the appropriateness of the information, advice or recommendation, having regard to your objectives, financial situation and needs. If this document, or any information, advice or recommendation, relates to the acquisition, or possible acquisition, of a particular financial product, you should obtain a product disclosure document relating to the product and consider the document before making any decision about whether to acquire the product. FIIG, its directors, representatives, employees or related parties may have an interest in any companies or entities, or any financial product issued by companies and entities, and may earn revenue from the sale or purchase of any financial product, referred to in this document or in any information, advice or recommendation. Neither FIIG, nor any of its directors, representatives, employees, or agents, make any representation or warranty as to the reliability, accuracy, or completeness, of this document or any information, advice or recommendation. Nor do they accept any liability or responsibility arising in any way (including negligence) for errors in, or omissions from, this document or any information, advice or recommendation. Any reference to credit ratings of companies, entities or financial products must only be relied upon by a “wholesale client” as that term is defined in the Corporations Act 2001 (Cth). FIIG strongly recommends that you seek independent accounting, financial, taxation, and legal advice, tailored to your specific objectives, financial situation or needs, prior to making any investment decision. © 2014 FIIG Securities Limited
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