National Conference 2004

2004 AIA National Investors Conference - 14 to 17 June 2004

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This page contains a summary of most papers presented to the National Conference 2004 on the Gold Coast in June, 2004.  The Author Index gives a link to the author's paper, where an author has presented more than one paper the second is linked from the first by use of [also].

Where authors provided the AIA with copies of their papers, a link to the presentation is provided so you may download them if you wish (Note: The Powerpoint presentations have been converted to *.pdf format but the files still vary in size though most are under 500 Kb.  Those over 1Mb are indicated, therefore your download time could be significant).  Links to the available presentation material are provided after the heading.

Authors

Grant Abbott
Bill Anderssen
Bob Andrew
Simon Blanchflower
Robin Bowerman
Nicole Bryant
Dr Christopher Caton
David Dixon
Paul Dolan
Jason Flanagan
Adam Griffiths
Alan Hull

Neil Jenman
Susan Johnston
Tony Lewis
Robert Martin
Oscar Martinis
Stephen Mayne
Jonathan Pain
Greg Paramor
Michael Reid
Paul Resnik
Ross Sorbello
Xanthe Virtue


 A Sleeping Giant Awakes

Slides      
Jonathan Pain has 20 years of international investment experience and is currently a Director of JP Consulting (NSW) Pty Ltd. He is Executive Director of HFA Asset Management and a member of their Investment Strategy Committee. He writes a monthly column for Personal Investor magazine entitled Contrarian Investor. Napolean Bonaparte once said "China is a sleeping giant. Let it sleep, for when it awakes it will shake the world." China's emergence as an economic powerhouse has massive implications for the global economy and for the region we live in. Jonathan will examine the rise and rise of China and the return of the Asian Tigers. He shall also review the global outlook for financial markets.

 Corporate Governance - Having A Say In Australian Boardrooms

Slides     
David Dixon
joined Colonial First State in May 2003, as General Manager of the Investments Division. A number of compliance failings and corporate collapses in Australia and overseas have focused more attention on the way companies are managed and directed. Corporate governance guidelines are now being set by the corporate regulators. Fund managers, including Colonial First State, are taking an active role in monitoring and influencing the way companies are directed and controlled.

 Stock Selection For Your Portfolio

Slides     
Simon Blanchflower, van Eyk Research, has 18 years experience in financial services ranging from wholesale investment banking through to retail sales and marketing. Simon will outline a comprehensive step by step process to selecting stocks. Attendees will gain an insight into understanding the characteristics of different types of stocks and how these influence portfolio construction.      [also]

 Real Choice Goes Beyond Just Investment Choice

Slides(1.2mb)     
Paul Resnik has been in the retail financial services industry since 1981. He was a founding Executive of FPI. He established and was the first General Manager of both Norwich Australia Asset Management and Bankers Trust Life. Paul believes that each of us has control of four separate and often conflicting budgets. Paul will discuss how we manage those conflicts; how we spend our time, our money, manage insureable risk and how much we exceed our natural risk appetite in the course of constructing our financial affairs goes to the very heart of constructing our own financial plan.

 Margin Lending Nuts & Bolts

Slides     
Jason Flanagan is the Director of Margin Lending with BT Financial Group Limited. Jason is keen to share his knowledge on how Margin Lending can be used to assist clients with achieving their financial goals sooner. In this first presentation Jason will cover fundamental concepts of Margin Lending, basic strategies and on-line tools for managing your geared equity portfolio.      [also]

 Active Investing Theory

Slides     Paper
Active Investing is a Blue Chip share trading strategy that employs both fundamental and technical analysis. By using technical analysis to 'Test and Measure' the impact of a company's fundamentals on price activity, Active Investors can 'Turbocharge' their portfolio performance. Alan Hull, a second generation share trader, Businessman, I.T. Expert and author will show delegates how easy it is to actively trade Blue Chip shares using historical price data. All Workshop attendees will participate in this process and discover how easy it is to trade shares. They will also discover that share trading is a robust process that relies on an individual's ability to stick to a predetermined set of rules rather than use discretion.     [also]

 Taxing Matters

Slides     
Nicole Bryant is a Director in the Employment & Wealth Division with PricewaterhouseCoopers LLP Brisbane. She has more than nine years experience in tax matters and specialises in employee share and option plans, fringe benefits tax and salary packaging, superannuation and retirement planning. Nicole will provide delegates with a tax update from the Federal Budget and the impact it will have on investors; discuss deductibility of interest for margin loans and outline the tax implications of being a Share Trader or a Capital investor.

 The Forgotten Asset Class

Slides     
A qualified actuary, Tony Lewis, Managing Director of Lewis Securities, has been involved in fixed interest and money markets since 1978. Tony will outline the different types of fixed interest, discuss its relevance in a balanced investment portfolio and discuss safety tips and hints about investing in fixed interest. He will also outline problems with listed hybrids. This presentation will be repeated.

 Active Investing Workshop

Slides     Paper
Having reviewed the simple theory behind Active Investing, Alan Hull will now show you how to actively trade Blue Chip shares using historical price data. All Workshop attendees will participate in this process and discover how easy it is to trade shares. They will also discover that share trading is a robust process that relies on an individual's ability to stick to a predetermined set of rules rather than use discretion.

 Demystifying Instalment Warrants

Slides    
Xanthe Virtue is an Associate Director for Warrants and Structured Products in Macquarie Bank's Equity Markets Group. In this session Xanthe will discuss what Instalment Warrants are, how they work, and where they fit into your investment portfolio.     [also]

 Margin Lending As A Wealth Creation Strategy

Slides     
Following on from the introductory session, Jason Flanagan will explore in detail the strategies on how you can use a Margin Loan to enhance your wealth creation through geared equities. This second session is aimed at those who understand the fundamental operations of a Margin Loan.

 Increase Your Returns by Buying Shares in Two Easy Payments

Slides     
In this second session, Xanthe Virtue will take you through various strategies demonstrating how you can enhance your long term investment portfolio and minimise the risk of gearing by using Instalments.

 Comparing & Monitoring Managed Funds

Slides     
Simon Blanchflower, van Eyk Research, will discuss the fund manager ratings process followed by van Eyk to review and monitor fund managers on an ongoing basis. The presentation provides an understanding of the different types of fund managers in the industry and the portfolio construction themes that they use. This session will be repeated.     [also]

Investors Tell Their Stories

     Paper(MG)       Paper(PB)
In this session two successful investors, Mike Glajnaric and Peter Blakiston, will talk about their experience as investors. Mike's investment style is mostly contrarian with a long term bias using Warren Buffett's principles. His present asset allocation is heavily biased towards cash as the economic environment is potentially volatile.
     Peter is a disciplined investor using a formal methodology in portfolio construction and control through asset allocation, sector identification for equities and target weights, some considerations in selecting buys and sells, research used and analysis and management/administration.
     Both Mike and Peter will outline their investment strategies, specific investments that worked well for them and those that did not, how they decide what to invest in and when to sell, what software if any assists them in investing decisions and in managing their portfolios. As well they will be asked to reflect on what advice they would give to a novice investor if asked. Robin Bowerman, Head of Retail at Vanguard Investments and formerly managing editor of Personal Investor, Shares and Asset magazines, will act as session facilitator and will draw on his findings in writing "Wealth of Experience" to place the comments of both Mike and Peter in a wider context.

   Our Half Million Dollar Portfolio

Slides    
Robin Bowerman will introduce the session outlining the importance of asset allocation. The importance of preparing a plan appropriate to ones needs will be highlighted through the example of John and Joan. They are both 40, have two children (10 and 6) and both work earning $75,000 and $45,000 respectively. As well as their employers' 9% superannuation contribution, each salary sacrifices $5,000 pa to superannuation. They still owe $50,000 on their home. John recently received an inheritance of $500,000 from a grand-parent. How should this be invested?
Slides     Paper      Stats(1.6mb)
     Ross Sorbello
, Manager of JBWere Goldman Sachs on the Gold Coast will outline his proposed strategy incorporating entity structure, tax position, debt encumbrance, superannuation and investments, risk management and estate planning. The $500k portfolio is constructed by an Asset Allocation model which uses the clients' Risk Profile and Income Requirements as the primary drivers of the allocation. The Asset Selection is driven by fundamental and quantitative research views of the individual assets.
Slides     
     Bob Andrew, President of the AIA, will then outline his portfolio including use of the various investment vehicles. Why a particular investment vehicle was selected and the reasons for its percentage of the portfolio with clear reference to risk, income return and capital growth will be explained.

 A Global & Market Outlook

Slides     Paper
Dr Christopher Caton
is the Chief Economist for BT Financial Group. There is no shortage of questions overhanging investment markets. When will US interest rates begin to rise and what does that mean for markets? What's in store for China? What will happen next with the exchange rate? Have we seen the best of the share market rally? Are there more interest-rate rises in the offing? Is it time to get out of property? Was the Budget sound economic policy? Chris Caton will give his views on these and other matters.

 Are You Getting The Most Out of Your SMSF Workshop

Slides     
Grant Abbott is Australia's leading self managed superannuation fund commentator and strategist. He is the CEO of The Strategist Group. Grant will provide participants with the latest practical strategies for use in SMSFs. Ideas on pensions, tax planning, estate planning and making the most of property and other investments in a fund will be considered. Grant will also alert participants to the potential pitfalls and traps in running their own fund.

 Why Property Syndicates Should Form Part Of Your Portfolio

Slides     
Greg Paramor, Managing Director of the James Fielding Group, will speak on the evolution in the structure of syndicate/unlisted property funds over the last decade. He will also discuss the reasons for the strong growth and the benefits of both property syndicates and unlisted property funds.

 Comparing & Monitoring Managed Funds

Slides     
Simon Blanchflower, van Eyk Research, will discuss the fund manager ratings process followed by van Eyk to review and monitor fund managers on an ongoing basis. The presentation provides an understanding of the different types of fund managers in the industry and the portfolio construction themes that they use. This session is a repeat.

 Portfolio Design To Meet Your Needs

Slides     
Robert Martin, Business Development Manager with Colonial First State Investments in Brisbane, will outline the characteristics of the different asset classes. The differences in volatility and performance of each of the asset classes will be discussed. Robert will show you how your individual risk profile will determine the type of asset mix for your portfolio.

 The Forgotten Asset Class

Slides     
Tony Lewis, Managing Director of Lewis Securities will outline the different types of fixed interest, discuss its relevance in a balanced investment portfolio and discuss safety tips and hints about investing in fixed interest. He will also outline problems with listed hybrids. This presentation is a repeat.

 Are Your Prepared? - Estate Planning Workshop

     Paper
What are the possible events you should plan for? What factors should your estate plan consider or incorporate? What are the tools you can use for your estate plan? What are testamentary (will) trusts and when might they be used? What are the benefits and disadvantages of testamentary trusts? These are some of the issues Bill Anderssen, a solicitor since 1963, will discuss in his workshop.

 Absolute Returns Investing Workshop

Slides     
This workshop exposes "traditional managed funds" for their investment style shortcomings. Time and time again they have created wealth in bull markets only to give it all back (and sometimes more) in bear markets. Professional "absolute return investing" is a time proven investment style that can make profits, and keep them in all market conditions. Oscar Martinis is a senior executive and Head of Distribution for HFA Asset Management.

 How To Do Options Workshop

Slides     
Paul Dolan commenced his career on the old ASX trading floor. He then moved to currencies and interest rate products broking. In this workshop Paul will teach you how to do three profitable trades in the current market. Delegates will be given data and worksheets so they can to construct real life trades and will know the profit, the risk and the environment to trade those particular strategies. This will be a hands on session so bring your calculators!

Fundamental & Technical Analysis Workshop

Paper (AH)
Justin Scattine is an analyst with Lincoln Indicators Pty Ltd, a specialist financial risk measurement company committed to measuring and analysing the financial health of businesses. Alan Hull is an active share trader and author. This session will demonstrate how share investors could combine both fundamental and technical analysis software to both evaluate stocks and determine whether to buy, sell or hold. Both Justin and Alan will take it in turn to analyse pre-selected stocks. Using their respective programs, both Justin and Alan will analyse the charts, demonstrating the various ways these could be interpreted. This session proved to be one of the most popular at the AIA Melbourne Investors Conference.

 Keeping Them Honest

Slides     
Stephen Mayne is Australia's best known shareholder activist and most unsuccessful board candidate, having run on 18 separate occasions over the past four years. Stephen is also heard regularly on ABC radio and has asked questions at more than 200 public company AGMs. In this presentation Stephen will explain the various tactics employed by companies to avoid scrutiny and give numerous specific examples of the corporate governance debate in Australia.

 Investing In A Resources Future

Slides     Paper
Susan Johnston
is the Chief Executive of the Queensland Resources Council. Investing in mineral and energy resources is an investment in Australia's prosperity. An overview of the minerals and energy industries and outlook for the sector in Queensland; why the sector can bring great rewards.

 IPOs

Slides     
With a plethora of Initial Public Offerings (IPO) over the past 12 months Adam Griffiths, an Investment Manager with Tower Trust, will discuss IPO's with reference to their characteristics, the IPO market domestic and internationally. Adam will also discuss LIC's, Australian Leisure & Hospitality, Exiting by Private Equity Firms and the means of gaining an adequate exposure through an IPO. Key questions to ask before investing and a case study will also be covered.

 Collectibles - A New Asset Class

     Paper
There is a significant financial tail wind behind art. Wiped up in Australia as it has been by the boom in self-managed superannuation funds; by a market driven by the intergenerational transfer of wealth, from a conservative, saving pre-war generation to their inheritors the freewheeling Baby Boomers; by a relatively strong domestic economy, one that has out performed so many of our trade partners over the last few years; and finally the art market is being driven by smart money - those collector investors who have foreseen that the returns on orthodox financial assets are going to be substantially less in the next ten years than they have been over the last fifteen. The smart money has already figured this one out early and is finding its merry little way into hard assets. Today, the market has come to a point when art as an asset class - and the tools by which we understand that asset - demand greater consideration. Michael Reid is the Art Market Analyst to the business section of The Australian newspaper and is well qualified to deliver this presentation.

 Property Investing - Promises & Pitfalls

Neil Jenman is a real estate educator, best-selling author and founder of The Jenman Group. He is an advocate of promoting ethics in the real estate industry and promotes "Ethics in Real Estate" through his seminars throughout the country. Neil will address issues and questions including: Is capital growth and return guaranteed from a property investment? Real Estate doubles every seven years - or does it? Using the equity in your family home to buy an investment property; investment traps and scams - what to look for and what to avoid.