贵金属投资技术分析英文版(36).pptVIP

Put footer here Agenda Introduction to GMI Fund Performance Sector Summary The Cycle Strategy Outlook GMI – The Rationale Global Mining Investments Ltd Rationale Australian resources sector has shrunk following takeovers by international companies during the last decade Australian investors unable to access the opportunities outside the country Not all of the best natural resources deposits are located in Australia Growth in sector coming from “new” countries eg Russia, China, Zambia, India Portfolio objective: to exceed the return of the HSBC Global Mining Index over the medium to long term. GMI invests globally in natural resource companies, predominantly metals and mining companies. Launched 6th April 2004 with AUM of A$75.2m Strong portfolio performance since inception; AUM now A$120m*, +60% since launch Who are MLIM Natural Resources? MLIM Natural Resources Team Started by Julian Baring in 1991 at former Mercury Asset Management Team has grown considerably since then with AUM of US$12bn* and a range of products including mining, gold and energy funds as well as a hedge fund. Core of team has been working together for over 10 years Only Natural Resources Team rated “AAA” by Forsyth Partners and SP Group Natural Resources Team Structure Global Mining Investments Key Performance Drivers Large weighting in diversified companies key to majority of performance Selective exposure to individual base metals e.g. copper vs. aluminium Excellent performance from key growth stocks e.g. First Quantum (+125.3%), Eramet (76.6%), Grupo Mexico (+72.4%), Zijin Mining (+71.3%), Oxiana (+61.5%), Aur Resources (+54.9%)* Corporate activity within sector BHP Billiton Xstrata battle for WMC Resources Noranda bid for Falconbridge Xstrata Inco battle for Falconbridge Top 10 Holdings GMI Ltd - Asset Allocation High Metal Prices translate into Record Earnings 2004 saw a string of records broken by the mining majors. GMI’s top four holdings (CVRD, BHP Billiton, Rio Tinto and Xstra