International Investment Opportunities
FundSource Adviser Day 2011
Henry Ford
23 October 2009
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Disclaimer
The information contained in this presentation has been prepared solely for informational purposes.
It is not an offer to buy or sell or a solicitation of an offer to buy or sell units in the Fund/s managed by
Elevation Capital Management Limited, to participate in any trading strategy or a recommendation to invest.
If any offer of units in the Fund/s is made, it shall be pursuant to a definitive Investment Statement and
Prospectus prepared by or on behalf of the Fund/s which will supersede this information in its entirety.
Any decision to invest in the Fund/s should be made only after reviewing the definitive Investment Statement
and Prospectus, conducting such investigations as the investor deems necessary and consulting the
investor’s own investment, legal and tax advisors in order to make an independent determination of the
suitability and consequences of an investment in the securities.
Any portfolio data, performance and risk targets contained in this presentation are subject to revision by the
Portfolio Manager and are provided solely as a guide to current expectations. There can be no assurance that
the Fund/s will achieve any targets or that there will be any return on or of capital.
Historical returns are not predictive of future results.
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“In 1969, I wound up my partnership and I had to help
people find someone to manage their money.
I recommended Bill Ruane of Sequoia Fund…”
– Warren Buffett
Return Since Inception (July 1970 to June 2011) = 24,552%
Robert Goldfarb and David Poppe
Sequoia Fund
Morningstar Managers of the Year
Winner 2010, Runner-up 2008
“These managers had more than just the wind
at their backs.” – Morningstar
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“Incisive, imaginative and smart, de Vaulx is highly regarded
by fellow value investors and foreign-stock specialists.”
– BARRON’S
Charles de Vaulx
Chief Investment Officer and Portfolio Manager
International Value Advisers, LLC (IVA)
Morningstar International Stock Manager of the Year
Winner 2001, Runner-up 2006
Absolute Return Award Fund of the Year (Global Equity)
Sofire Fund Ltd – 2005, 2006
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“We’ve also spotlighted a top-performing international-only
stock picker, Amit Wadhwaney of Third Avenue Funds.”
The World’s Greatest Investors – SmartMoney
“Amit doesn’t just look for cheap companies; he almost
has to steal them,” – Jean-Marie Eveillard First Eagle Funds
Amit Wadhwaney
Portfolio Manager
Third Avenue International Value Fund
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B EST CA LL
ZINIFEX
(ZFX.AX, $9)
The Australian zinc
and lead miner took
off in the commodities
boom. Wadhwaney’s
2004 investment
multiplied sevenfold,
and he sold before
falling zinc prices hurt
the stock last year.
WORST CA LL
AIFUL
(AIFLY.PK, $4)
This consumer finance
firm turned out to be,
well, awful. The stock
has fallen 70 percent in
two years, due in part to
Japan’s credit crunch.
WHAT’S N EX T
Wadhwaney sees
surprising promise
in the newsprint
industry, which keeps
growing even as the
world goes digital.
He likes Catalyst
Paper (CTL.TO, $1), a
Canadian firm headed
for a turnaround.
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For the FIRST TIME…
New Zealand retail investors
will have access to
these “World Class” fund managers via…
Fund Structure
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* As at 31 July 2011
Portfolio Composition
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* As at 31 July 2011
Fund X-Ray – World Regions
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Fund X-Ray – Top Stock Holdings
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Valeant
Pharmaceuticals
Berkshire
Hathaway
WBL
TJX
Fastenal
Company
Idexx
Laboratories
Netia
Viterra
Mohawk
Industries
Advance
Auto Parts
Precision
Castparts
Resolution
Total
Rolls-Royce
Allianz
Weyerhaeuser
Sampo
Astellas
Pharma
Leucadia
National
Andritz
Genting
Malaysia Bhd
Nestle
Nexans
SSECOM
Sodexo
Genting Malaysia
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Weyerhaeuser
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“What to Buy? For those with a long horizon, I am sure wellmanaged forestry and farmland will outperform the
average of all global assets.”
- Jeremy Grantham’s 2011Q2 letter Part 2
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Fee Structure
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 Management Fees:
Sequoia
Third Avenue
IVA
1.00%
1.00%
1.25%
ECGVFoF
0.95%
 ECGVFoF Management Fee will decrease as FUM
grows.
 No Performance Fees for Managers or Elevation
Capital.
Conclusion
 Unique product offering for NZ retail investors;
 Value oriented investing style;
 Unhedged, globally diversified portfolio;
 World class fund managers with solid long-term
performance track records;
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Contact Us
Elevation Capital Management Limited
Website:
www.elevationcapital.co.nz
Email:
info@elevationcapital.co.nz
Phone:
09 307 6741
Address:
77 Parnell Road, Parnell, Auckland 1052.
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