Mr Guy Johnson Mr Rob Mercer Mr Paul O’Driscoll Authorised Financial Adviser Authorised Financial Adviser Authorised Financial Adviser Forsyth Barr Forsyth Barr Forsyth Barr 16:30 - 17:25 WS #190: Discovering Value in Global Pharma and Biotech Stocks 17:35 - 18:30 WS #202: Discovering Value in Global Pharma and Biotech Stocks (Repeated) Introducing Forsyth Barr and Diversified Investments June 2019 Guy Johnson and Paul O’Driscoll: Investment Advisers 0800 367 227 | forsythbarr.co.nz Disclosure Statement The Financial Advisers Act 2008 and the Financial Advisers (Disclosure) Regulations 2010 require written disclosure of specific information by people providing financial advice. In accordance with this legislation we have distributed a copy of our Investment Adviser Disclosure Statements. If anyone does not have a copy of these Disclosure Statements can you please advise us now before we commence the presentation. Not personalised financial advice: The recommendations and opinions in this presentation do not take into account your personal financial situation or investment goals. The financial products referred to in this presentation may not be suitable for you. If you wish to receive personalised financial advice, please contact your Forsyth Barr Investment Adviser. The value of financial products may go up and down and investors may not get back the full (or any) amount invested. Past performance is not necessarily indicative of future performance. 0800 367 227 | forsythbarr.co.nz | 3 Disclaimer Disclosure: Forsyth Barr Limited and its related companies (and independently verified or investigated by Forsyth Barr. Forsyth their respective directors, officers, agents and employees) Barr does not make any representation or warranty (express or (“Forsyth Barr”) may have long or short positions or otherwise implied) that the information in this presentation is accurate or have interests in the financial products referred to in this complete, and, to the maximum extent permitted by law, presentation, and may be directors or officers of, and/or provide excludes and disclaims any liability (including in negligence) for (or be intending to provide) investment banking or other any loss which may be incurred by any person acting or relying services to, the issuer of those financial products (and may upon any information, analysis, opinion or recommendation in receive fees for so acting). Forsyth Barr is not a registered bank this presentation. Forsyth Barr does not undertake to keep within the meaning of the Reserve Bank of New Zealand Act current this presentation; any opinions or recommendations 1989. Forsyth Barr may buy or sell financial products as may change without notice. Any analyses or valuations will principal or agent, and in doing so may undertake transactions typically be based on numerous assumptions; different that are not consistent with any recommendations contained in assumptions may yield materially different results. Nothing in this presentation. Forsyth Barr confirms no inducement has this presentation should be construed as a solicitation to buy or been accepted from the researched entity, whether pecuniary or sell any financial product, or to engage in or refrain from doing otherwise, in connection with making any recommendation so, or to engage in any other transaction. Other Forsyth Barr contained in this presentation. business units may hold views different from those in this presentation; any such views will generally not be brought to Analyst Disclosure Statement: In preparing this presentation the your attention. This presentation is not intended to be analyst(s) may or may not have a threshold interest in the distributed or made available to any person in any jurisdiction financial products referred to in this presentation. For these where doing so would constitute a breach of any applicable laws purposes a threshold interest is defined as being a holder of or regulations or would subject Forsyth Barr to any registration more than $50,000 in value or 1% of the financial products on or licensing requirement within such jurisdiction. issue, whichever is the lesser. In preparing this presentation, non-financial assistance (for example, access to staff or Terms of use: Copyright Forsyth Barr Limited. You may not information) may have been provided by the entity being redistribute, copy, revise, amend, create a derivative work from, researched. extract data from, or otherwise commercially exploit this presentation in any way. 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However, that information has not been presentations available through that platform. 0800 367 227 | forsythbarr.co.nz | 4 Who is Forsyth Barr? 0800 367 227 | forsythbarr.co.nz | 5 Independently and Whangarei New Zealand owned North Shore Auckland Auckland East Hamilton Tauranga • Forsyth Barr has been around for over 80 Cambridge years as a NZ-owned and controlled, full service investment house New Plymouth Napier • One of NZ’s largest discretionary private Hastings wealth managers, over $7 billion of client Palmerston North Kapiti Coast funds managed on Discretionary or Lower Hutt Advisory basis Nelson Wellington • Partner of Forsyth Barr Stadium, Dunedin • NZ’s largest equity research team Christchurch Ashburton Timaru Queenstown Dunedin Invercargill 0800 367 227 | forsythbarr.co.nz | 6 Investments 0800 367 227 | forsythbarr.co.nz | 7 Benefits of a Diversified Investment Portfolio • We aim to provide the best risk-adjusted return for your capital. • Different asset classes have different return profiles and blending a portfolio of different asset types can lower overall portfolio risk and achieve superior, less volatile long-term returns. • A portfolio of financial assets (equities, bonds, cash) could provide uncorrelated returns offering smoother long term returns. For example, global equities have had over the past ten years an excess return above that of property. Global equities could therefore add to overall portfolio returns if the primary asset class is under- performing. Source: ANZ, Bloomberg 0800 367 227 | forsythbarr.co.nz | 8 General risk profile and asset allocation Fixed Shares Investing WHEN retired Interest 30% 65% Low Property 5% Fixed Shares Interest 40% 50% Medium Property 10% Fixed Interest 20% Property AGE High 10% Shares 70% Investing FOR retirement 0800 367 227 | forsythbarr.co.nz | 9 Forsyth Barr service offering 0800 367 227 | forsythbarr.co.nz | 10 Forsyth Barr Investment Services • We are relationship focused. We build bespoke investment portfolios tailored to your personal situation. Forsyth Barr offers a personalised investment approach that places the client first. • We aim to provide the best risk-adjusted return for your capital, based on your financial circumstances and investment objectives. • We create investment portfolios that match clients needs – capital preservation, income or a focus on growth. 0800 367 227 | forsythbarr.co.nz | 11 Structured, disciplined, team approachto managing our client’s assets Macroeconomic Asset Allocation and (Strategic and Geopolitical Tactical) Tailored Investment Portfolio Industry Fundamental Thematic Security Selection Geographic 0800 367 227 | forsythbarr.co.nz | 12 Building a World Class Equity Portfolio Rob Mercer Head of Private Wealth Research 0800 367 227 | forsythbarr.co.nz Disclosure Statement Not personalised financial advice: The recommendations and opinions in this presentation do not take into account your personal financial situation or investment goals. The financial products referred to in this presentation may not be suitable for you. If you wish to receive personalised financial advice, please contact your Forsyth Barr Investment Adviser. The value of financial products may go up and down and investors may not get back the full (or any) amount invested. Past performance is not necessarily indicative of future performance. 0800 367 227 | forsythbarr.co.nz | 14 Disclaimer Disclosure: Forsyth Barr Limited and its related companies (and independently verified or investigated by Forsyth Barr. Forsyth their respective directors, officers, agents and employees) Barr does not make any representation or warranty (express or (“Forsyth Barr”) may have long or short positions or otherwise implied) that the information in this presentation is accurate or have interests in the financial products referred to in this complete, and, to the maximum extent permitted by law, presentation, and may be directors or officers of, and/or provide excludes and disclaims any liability (including in negligence) for (or be intending to provide) investment banking or other any loss which may be incurred by any person acting or relying services to, the issuer of those financial products (and may upon any information, analysis, opinion or recommendation in receive fees for so acting). Forsyth Barr is not a registered bank this presentation. Forsyth Barr does not undertake to keep within the meaning of the Reserve Bank of New Zealand Act current this presentation; any opinions or recommendations 1989. Forsyth Barr may buy or sell financial products as may change without notice. Any analyses or valuations will principal or agent, and in doing so may undertake transactions typically be based on numerous assumptions; different