Manchester and London Investment Trust plc.
Shareholder Meeting - Tuesday 15 January 2019.
The Members’ Room, ICAEW, Chartered Accountants' Hall, Moorgate Place,
London, EC2R 6EA.
M&L Capital Management Limited.
12a Princes Gate Mews, London, SW7 2PS.
Tel +44 (0) 20 7584 5733
Proven as the best Strategy for Returns!
2
IP & Growth: The best Strategy to beat the market.
Source: Bloomberg Finance L.P.
SPX - S&P 500 - TRACKERS
S5CONS - S&P 500 Consumer Staples Sector - QUALITY
NDX - Nasdaq 100 - TECH & IP
HSI - Hang Seng (proxy for developing markets) - ASIA
CPI - US Consumer Prices Index - CASH at BANK
RTY - Russell 2000 (proxy for small companies) – SMALL CAP
3
Key Investment Metric: High Margin, IP Rich.
Source: Bloomberg L.P
KO US = The Coca-Cola Company
KMB US = Kimberly-Clark Corp
ULVR LN = Unilever PLC
NESN SW = Nestle SA
OR FP = L’Oreal SA
700 HK = Tencent Holdings Ltd
BABA US = Alibaba Group Holding Ltd
MSFT US = Microsoft Corp
GOOG US = Alphabet Inc
FB US = Facebook Inc4
Key Investment Metric: High Growth, High ROIC.
Source: Bloomberg L.P
MDLZ US = Mondelez International Inc
DGE LN = Diageo Plc
PYPL US = Paypal Holdings Inc
5
Key Investment Metric: Low Leverage, Cash Generative.
Source: Bloomberg L.P
EL US = The Estee Lauder Companies Inc NVDA US = NVIDIA Corp
6
Key Investment Metric: LT Performance Momentum, Large Cap.
Source: Bloomberg L.P
PG US = The Procter & Gamble Co AMZN US = Amazon.com Inc
7
Key Investment Metric: Similar Valuation Multiples, Faster Growth.
Source: Bloomberg L.P
8
What are the key Growth drivers for MNL LN now?
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MNL LN Top Growth Drivers: E-Commerce.
Source: eMarketeer
10
MNL LN Top Growth Drivers: Public Cloud.
Source: Statista
11
MNL LN Top Growth Drivers: Video Gaming, VR, AR & E-Sports - the
fastest growing entertainment.
Source: Statista
12
What are the key Risks for MNL LN now?
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3 Key Risks - Global Debt.
Source: Bloomberg L.P
14
3 Key Risks: The New Cold War - the USA China Tech War for AI Supremacy.
Source: The Economist
https://www.economist.com/news/leaders/21738883-americas-technological-hegemony-under-threat-china-battle-digital-supremacy
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3 Key Risks: Regulate to survive.
“Communities have historically been formed and controlled by physical and
geographical parameters in the formation of nations. In the future, communities will
move from being physical to online, resulting in legacy political power systems
becoming increasingly redundant.” (Asimov)16
What are you getting with MNL LN?
17
MNL LN: The medium term context.
Source: Bloomberg Finance L.P
18
MNL LN: Growing the Share Base, Increasing Liquidity & Spreading Cost.
Source: Bloomberg L.P
19
Dividend History - Yield now 2.7% (Source: FT).
Source: MLCM
13.75
6.00
13.36
9.00
12.00
0
2
4
6
8
10
12
14
16
2014 2015 2016 2017 2018
Dividend per Share (p)
Dividend per Share (p)
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MNL LN - CityWire: Best Global Equities Investment Trust winner!
Source: Citywire
21
MNL LN - Elected to FT Adviser 100 Club.
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Source: FT Adviser
Disclaimer.
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This document is not a prospectus, but an advertisement and investors should not subscribe for any transferable
securities based on the information contained in this presentation or any other research materials.
This document is confidential and is being supplied to you solely for your information and may not be reproduced,
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This document does not constitute or form any part of any offer or invitation or other solicitation or
recommendation to purchase any securities. No reliance may be placed for any purpose whatsoever on the
information, representations or opinions contained in this document, and no liability is accepted for any such
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Manchester and London Investment Trust Plc, M&L Capital Management Ltd, nor any other person makes any
guarantee, representation or warranty, express or implied as to the accuracy, completeness or fairness of the
information and opinions contained in this document, nor does Manchester and London Investment Trust Plc,
M&L Capital Management Limited, or any other person accept any responsibility or liability whatsoever for any
loss howsoever arising from any use of this document or its contents or otherwise arising in connection
therewith.
The information contained in this document may amount to price sensitive information for the purposes of the
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should consider their positions carefully before undertaking any dealings.