1
8 december 2000
OHRA Asset ManagementJaco Aardoom
The successfulinvestment strategy
2
Investing in themes with goodprospects! Goal of an equity investor
! An analysis: who was succesful
! The story behind the numbers
! The strategy and the future
! www.fondsvisie.nl
! Conclusion
3
To get an optimal returnwith an acceptable level of risk
An analysis: risk and return
What is necessary?
The right investment strategy
Who was successful?
Goal of each equity investor
4
0,0
5,0
10,0
15,0
20,0
25,0
30,0
35,0
40,0
45,0
0,0 5,0 10,0 15,0 20,0 25,0
Worldwide investing equity funds,5 year risk/return until 30 september 2000
Ave
rage
yea
rly re
turn
Risk (volatility)
Risk and return
5
15,0
20,0
25,0
30,0
35,0
40,0
15,0 17,0 19,0 21,0 23,0 25,0
OHRA Aandelen Fonds
ABNAMRO Aand.F.Robeco v.Lanschot Gl.Eq.F.
RolincoDelta Lloyd Inv.Fund
MSCI
Postbank Aand.F.ING Global Fund
Aegon Aand.F.
Fortis Obam
ASN Aand.F.Opbouwfonds Medici
Templeton Gl.Growth
Fleming Int.Eq.F.
Friesland Aand.F.
Insinger Glob.Eq.
Fidelity Fund Int.
KBC Eq. World F.
AXA Aand.Int.
Worldwide investing equity funds,5 year risk/return until 30september 2000
Ave
rage
yea
rly re
turn
Risk (volatility)
Risk and return
6
Traditional:
allocation to countries
allocation to sectors
1
3
2
stockselection
Strategy and the process ofdecisionmaking
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Traditional:
Stockselection
Allocation to trends and segments
1
2
3
OHRAAandelen Fonds
Allocation to countries
Stockselection
Allocation to sectors
1
3
2
Allocation to countries
Strategy and the process ofdecisionmaking
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Global trends
Interactivecommunication
Ageing populationEnvironmentaltechnology
Long termGrowth trends
In search of future growth
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What are theproducts,
technologies orservices needed toassure our future
wellfare
What are the productsand technologies
needed to stabilize orimprove theenvironment
Global trends
Interactivecommunication
Ageing populationEnvironmentaltechnology
long termGrowth trends
How will(digital)
communication looklike ?
In search of future growth
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What are theproducts,
technologies orservices needed toassure our future
wellfare
What are the productsand technologies
needed to stabilize orimprove theenvironment
Global trends
Interactivecommunication
Ageing populationEnvironmentaltechnology
long termGrowth trends
How will(digital)
communication looklike ?
In search of future growth
First w
e think as a
n entre
peneur,
then we consid
er it a
s an in
vestor !
11
Communicationtechnology
OHRA Aandelenfonds
e-BusinessMedia
Interactivecommunication
Ageingpopulation
Environmentaltechnology
Long termGrowth trends
rest 6% 4% 25% 41% 24%
rest 2,6% 10,2% 35,8% 32,0% 19,3%30 sept.2000
31 dec.1999
Allocation to themes
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OHRA Aandelenfonds
10,2% 35,8% 32,0% 19,3%
Communicationtechnology
e-BusinessMedia
Interactivecommunication
Ageingpopulation
Environmentaltechnology
CGNU / Morleyand
OHRA Asset Management:
Global Success Fund(relaunch 14/2/00)
Global Opportunities Trust(launch 6/7/00)
Rank1 / 112
5 yr (GBP)OHRA Aandelen Fonds 279,2%Autif Global Growth Sector Average 104,7%
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Interactivecommunication
Ageingpopulation
Environmentaltechnology
Long termgrowth trends
Companiesthat map outthe trend
OHRA Aandelen Fonds
Segmentsthat willbenefit
WaterRecyclingProcess technologyDurable energy
Farmaceuticals/ BiotechnologyMedical devicesRelated sectors
ContentHardwareInfrastructureFacilitating companies
In search of future growth
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Interactivecommunication
Ageingpopulation
Environmentaltechnology
Long termgrowth trends
Companiesthat map outthe trend
OHRA Aandelen Fonds
Segmentsthat willbenefit
WaterRecyclingProcess technologyDurable energy
Farmaceuticals/ BiotechnologyMedical devicesRelated sectors
ContentHardwareInfrastructureFacilitating companies
In search of future growth
In search of:‘the Microsoft’ of the trend
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C P H V E S TA S WIND , C lose(Last Trade) [L ine] D aily11A pr98 - 17Nov00
May98 Jul S ep Nov J an99 Mar May Jul S ep Nov J an00 Mar May Jul S ep Nov
P rD K K
50
100
150
200
250
300
350
400
450
C P H V E S TA S WIND , C lose(Last T rade)31Oct00 478.00 31/10/00
$ 478
Vestas Wind + 257%
31/12/99$ 134??
Environmentaltechnology
WaterRecyclingProcess technologyDurable energy
In search of future growth
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Interactivecommunication
Ageingpopulation
Environmentaltechnology
Long termgrowth trends
Companiesthat map outthe trend
OHRA Aandelen Fonds
Segmentsthat willbenefit
WaterRecyclingProcess technologyDurable energy
Farmaceuticals/ BiotechnologyMedical devicesRelated sectors
ContentHardwareInfrastructureFacilitating companies
In search of future growth
OH
RA
Car
e Fon
dsO
HR
A M
ultim
edia
Fon
ds
OH
RA
New
Ene
rgy
Fond
s
OH
RA
Mili
eute
chno
logi
e Fon
ds
OH
RA
Com
m.T
echn
.Fon
ds
OH
RA
Inte
rnet
Fon
ds
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OHRA investment funds 1 year 3 years * 5 years*
Aandelen Fonds 75,9% 42,4% 40,0%
Care Fonds 80,6% 33,0% (launch 15/4/’97)
Milieutechnologie Fonds 66,3% 5,6% (launch 15/4/’97)
Multimedia Fonds 90,5% 82,8% (launch 15/4/’97)
Internet Fonds 102,6% (launch 18/9/’98)
Comm.Techn.Fonds (launch 20/4/’00)
New Energy Fonds (launch 1/12/’00)
* = per annum
Return as per 30 september 2000
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1 year 3 years* 5 years*
Aandelen Fonds 75,9% 42,4% 40,0%
investoraward
awarded by Nyfer (independent research institute)
period 1997 - 1999
* = per annum
Return as per 30 september 2000
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OHRA Investment Funds Growth of the total fundsize
(x1 million euro)2.503,08
1.551,69
578,68
354,90251,59173,33112,6893,6875,3961,8346,0235,8426,95
377,88497,92
876,59
2.984,53
0
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-okt
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30-ju
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30-ju
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31-d
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+ EURO 1.433 million= + 92%
Growth OHRA funds
20
12%
30%
58%
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Euronext (Dutch Stock Market)
OHRA Life/Pension
OHRA Bank
In million euro until 30 june 1999
Growth OHRA funds
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0
500
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Euronext (Dutch Stock Market)
OHRA Life/Pension
OHRA Bank 12%
30%
58%
3 reasons to call your bank now !
42%
20%
38%
Spin-off
In million euro until 30 september 2000
Growth OHRA funds
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OHRA Bank58%
Delta Lloyd Bank0%
OHRA Pension6%
OHRA Life20%
OHRA own position4%
Dutch Stock Market12%
30 june 1999EURO 876 milion
OHRA funds bydistribution channel
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OHRA Bank58%
Delta Lloyd Bank0%
OHRA Pension6%
OHRA Life20%
OHRA own position4%
Dutch Stock Market12%
30 june 1999EURO 876 milion
OHRA Bank37%
Delta Lloyd Bank1%
OHRA Pension4%OHRA Life
16%
OHRA own position4%
Dutch Stock Market38%
30 september 2000EURO 2.984 milion
OHRA funds bydistribution channel
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Also on the internet:www.fondsvisie.nl
realtime pricespersonalised portfoliopricegraphsinsight in the fundportfolio etc
Information and added value
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Information and added value
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O p e ning s -fo rm ulie re n O B R F o nd s V is ie a a nvra g e nFondsvisie subscriptionOpening account with OHRA Bank
www.fondsvisie.nl
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Conclusion
Investing in equity is investingin future growth
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Theme-investing addsvalue to each portfolio !
Conclusion
Investing in equity is investingin future growth
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ASSET MANAGEMENT