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First Sentier Top 20 Index Portfolio

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First Sentier Top 20 Index Portfolio First Sentier Top 20 Index Portfolio Quarterly Factsheet 30 June 2021 For Adviser use only Portfolio Description Growth of AUD 10,000 Investment Since Inception The portfolio invests in the 20 largest stocks listed on the ASX based on their market capitalisation Portfolio $15,000 Investment Strategy $14,000 The portfolio invests in the 20 largest shares listed on the ASX based $13,000 on their market capitalisation. The manager seeks to maximise efficiency through model portfolio construction and minimise $12,000 slippage through comprehensive risk management. $11,000 $10,000 Investment Objective * $9,000 To deliver performance similar to that of the 20 largest shares listed on the ASX over rolling one year periods as measured by the 12/2019 12/2018 12/2020 03/2021 06/2021 03/2019 03/2018 09/2019 06/2019 06/2018 09/2018 03/2020 09/2020 S&P/ASX 20 Accumulation Index before fees and adjusted for 06/2020 minimum cash holdings. Risk Characteristics Period 1yr 2yr 3yr SI Portfolio standard deviation (%) 10.3 18.2 15.9 15.3 Product Overview Benchmark standard deviation (%) 10.4 18.4 16.1 15.5 Inception date 23 March 2018 Tracking error (%) 0.1 0.2 0.2 0.2 Benchmark S&P/ASX 20 Accumulation Index Portfolio Sharpe ratio 2.9 0.5 0.6 0.6 Target Asset Allocation ** Australian shares 98-99% / Cash 1-2% Information ratio -6.3 -2.0 -2.4 -2.5 Number of stock holdings Typically 20 Beta 1.0 1.0 1.0 1.0 Minimum investment As per platform provider Top 10 holdings Managed account fee (p.a.) *** 0.28% Stock Standard Risk Measure ANZ Bank Risk band / label 7 - Very High BHP Group Suggested time frame 7 years Commonwealth Bank CSL Performance summary (%) Macquarie Group Period 3mth 6mth 1yr 2yr 3yr SI National Australia Bank Net return 9.1 15.8 30.4 8.6 10.4 11.9 Rio Tinto Benchmark return 9.3 16.1 31.1 9.0 10.7 12.4 Wesfarmers Excess net return -0.2 -0.3 -0.7 -0.4 -0.4 -0.4 Westpac Bank Sector Breakdown (%) Woolworths Sector Weight Sorted alphabetically Financials 39.8 Materials 20.2 Health Care 10.5 Consumer Discretionary 7.7 Consumer Staples 5.8 Industrials 4.5 Communication Services 3.6 Real Estate 2.9 Information Technology 2.3 Energy 1.7 * Investment objective is not a forecast and returns are not guaranteed ** The target asset allocation should only be used as a guide. The portfolio managers aim to maintain each portfolio within target investment allocation ranges, however, the actual asset allocation may vary from the target investment allocation *** Additional fees and charges may apply. Please consult your platform provider Performance returns are calculated net of management fees and transaction costs. Performance returns for periods greater than one year are annualised. Past performance is not a reliable indicator of future performance. Data source: First Sentier Investors 2021 Data as at: 30 June 2021 First Sentier Top 20 Index Portfolio 30 June 2021 Market review The Australian equity market was strong during the June quarter with investors encouraged by the resilient economic data and the roll out of the vaccine. The S&P/ASX 20 Accumulation Index climbed (+9.26%) in the June quarter. The Real Estate sector (+17.6%) was the strongest performer followed by the Information Technology sector (+16.4%). Goodman Group (+17.6%) and Afterpay (+25.9%) led the charge in these sectors respectively. A strong third quarter trading update by Goodman Group drove the Real Estate sector with the company pointing to a material increase in “Work in Progress”. Energy was the biggest drag on the Index with Woodside Petroleum down -7.5%. Woodside have many large scale projects that need to be funded in the future and there are some concerns with investors regarding stranded assets. Portfolio activity During the quarter the S&P rebalance occurred with Woolworths (WOW-AU) demerging their liquor business Endeavour (EDV-AU). EDV was removed from the ASX 20 as it did not meet the size criteria to stay in the index. Market outlook Domestically the economic data remains strong and the emergence of the Covid Delta strain in various states was not enough to diminish investors’ enthusiasm for equities. The housing market continues to strengthen and jobs data remains robust – the unemployment rate unexpectedly falling to a pre- pandemic low of 5.1%. The Governor of the Reserve Bank restated that economic conditions are unlikely to be solid enough to warrant a rate hike until at least 2024, at the earliest. However, some banks are now starting to lift their interest rates. Mergers, spinoffs and acquisitions continue to be a common theme in global and domestic markets. Orocobre and Galaxy will merge in August and will create one of the largest lithium companies in the world. AGL Energy announced a demerger of their coal business. Private equity launched a bid for Sydney Airport in early July. This theme is likely to continue in the coming months. The pace of the roll out of vaccines around the world and the rise of bond yields will continue to drive global and domestic markets. Volatility is likely to remain with the potential for more waves of the virus, lockdowns and some countries reducing stimulus while other countries continue to increase stimulus. First Sentier Top 20 Index Portfolio 30 June 2021 Portfolio Beta measures the portfolio's sensitivity to benchmark movements. Mathematically, it is the covariance of the portfolio vs the benchmark divided by the variance of the benchmark. The covariance and variance are ex ante calculations based on current weights and historic patterns of return over the past five years. www.firstsentierinvestors.com.au For further information Head of Investment Sales and Key Accounts Business Development Manager - VIC/TAS Chris King +61 2 9010 5249 Jack Heinz +61 3 9225 5056 Key Account Manager - NSW Key Account Manager - QLD Angela Vincent +61 2 9010 5230 Quin Smith +61 4 5509 5505 Paul Sleiman +61 2 9010 5393 Business Development Manager – QLD Business Development Manager – NSW Julie Day +61 4 6641 3176 Justin Sultana +61 2 9010 5326 Key Account Manager - WA/SA/NT Key Account Manager - VIC/TAS Nathan Robinson +61 4 0327 2440 Nicholas Everitt +61 3 9225 5055 This document has been prepared by First Sentier Investors (Australia) RE Ltd (ABN 13 006 464 428, AFSL 240550) (FSI RE) which forms part of First Sentier Investors, a global asset management business. First Sentier Investors is ultimately owned by Mitsubishi UFJ Financial Group, Inc (MUFG). A copy of the Financial Services Guide for FSI RE is available from First Sentier Investors on its website. This document contains general information only. It is not intended to provide you with financial advice and does not take into account your objectives, financial situation or needs. Before making an investment decision, you should consider, with a financial adviser, whether the information in this document is appropriate in light of your investment needs, objectives and financial situation. The information contained in this document is intended for institutional and wholesale client use only. It is not intended for use by any person who is a retail client as that term is defined under the Corporations Act 2001 (Cth) and must not be made available to any other person without FSI RE's express written consent. Any opinions expressed in this material by FSI RE are the opinions of FSI RE at the time of publication only and are subject to change without notice. Such opinions are not a recommendation to hold, purchase or sell a particular financial product and may not include all the information needed to make an investment decision in relation to such a financial product. Investors are not able to invest directly into a FSI RE strategy or portfolio (Portfolio). MUFG and its subsidiaries do not guarantee the performance of any Portfolio or the repayment of capital by any Portfolio. Investments in any financial products that provide access to any such Portfolios are not deposits or other liabilities of MUFG or its subsidiaries, and investment-type products are subject to investment risk including loss of income and capital invested. Past performance information provided reflects the performance of a portfolio and not any individual managed account. Returns will differ for any individual managed account compared to the portfolio depending on matters such as inception date, fees and brokerage costs payable, adherence to model portfolio weights, portfolio implementation timing and fees payable. The past performance information does not take into account any taxes that may be payable in connection with any returns or gains made from any portfolio. Past performance is not indicative of future performance. To the extent permitted by law, no liability is accepted by FSI RE, MUFG or their respective affiliates for any loss or damage as a result of any reliance on this information. This document contains or is based upon information that we believe to be accurate and reliable, however neither FSI RE, MUFG nor their respective affiliates offer any warranty that it contains no factual errors. No part of this document may be reproduced or transmitted in any form or by any means without the prior written consent of FSI RE. Copyright © First Sentier Investors (Australia) Services Pty Limited 2021 All rights reserved. The indexes referred to in this document ("Index") are products of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by FSI AIM. Copyright © 2021 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates.
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