The Flagship Investments Limited’s (FSI) portfolio closes out Calendar Year 2021 as it began- performing strongly, topping tables and delivering positive returns for shareholders. It achieves this through a disciplined investment process that produces a high conviction portfolio of quality-growth oriented companies.

The manager, EC Pohl & Co commenced 2021 managing $68.0 million in the portfolio and closed the year out managing nearly $93.5 million. This increase comes through a rise in the value of investments held and funds received through the issue of the Convertible Notes which trade on the ASX under the code FSIGA.

Table 1: Source Flagship Investments Ltd

Flagship for diversification

An article recently published on the FSI website explored the diversification benefit of investing in FSI as the underlying holdings were differentiated from other LICs, this article can be read here.

It also shows how many LIC’s hold similar sector weightings to one another, while FSI weightings are unique, demonstrating that the outperformance was generated by superior stock selection. The table below is from the 2021 FSI Annual report which lists all of the holdings in the portfolio as at 30 June 2021.

Table 2: Source Bell Potter

Beating the competitors

Our final table is produced by Bell Potter LIC research and is dated 10 December.

Flagship Investments Ltd performance closes out 2021 as the best amongst peer Large & Medium Cap investing LICs for 3 years pa, 5 years pa and 10 years pa. This is for both its NTA performance and Share price performance.

While we cannot predict how 2022 will fare and we must always acknowledge that past performance is no guarantee of future success, it is clear that the disciplined investment process of the manager identifies and constructs a portfolio of quality growth companies.

We thank our shareholders for their continued support in 2021 and look forward to continuing to grow shareholder wealth through 2022.

We would like to welcome our new Non Executive Director, Angela Obree talking to Flagship Investment’s shareholders through this interview.

Further information about Angela and other FSI Directors can be found here.

Full transcript:

My name is Angela Obree and I’m a non-executive director of Flagship Investments also known as FSI. I spent the last 25 years or so in management consulting predominantly in the financial services industry based in London in the UK. My focus whether working with the executive teams or the boards has been on strategy risk and compliance.

Q: How did you first became aware of Flagship Investments?

I became aware of Flagship Investments right at the ice age, I’ve been lucky enough to know Dr Manny Pohl for many many years. I heard about Flagship right when it started back in the early part of 1998 and I’ve been following its progress and successes ever since.

Q: What interested you in Flagship (Investments) over that time?

I’m sure like everybody else and the other shareholders it’s been the decided performance both in terms of capital and dividends to shareholders but more than that and for me, it was also I really like the professional and disciplined manner in which the portfolio is managed.

Q: What do you hope to bring to the board of Flagship Investments?

I was honoured to and to be asked to consider the role and mostly because I resonate very much with the values of the company both in terms of their investment principles and also um because of the calibre and integrity of the management team. It certainly makes my job as a board member much easier.

Q: Tell us about your experience working with boards of investment companies?

I’ve been really fortunate in my career that in the last 25 years I’ve got to work with various boards around the world, you know in London in South Africa and Germany in the US. My role has been on the other side actually of the war table which has been to work with boards to develop a strategy to mitigate any risks and manage compliance and so forth.

Sitting on a board you get to see the business from all aspects and get to make that kind of you know high-level decisions that genuinely drive where the business is going and you don’t always get that on the other side as the executive, you get told what to do. So I quite like that element of it but in this business, it is so well managed by you know EC Pohl we would take a lot of you know guidance [obviously from] I mean we obviously you know around the strategy and so forth but in terms of decisions and investment decisions happy that’s left to the executive team to Manny and so forth.

Q: What are your thoughts on the journey ahead?

Now that the convertible notes has been successfully taken up I feel very likely to be part of this exciting journey as we watch Flagship Investments move into the next stage.

Q: Can you tell us something about yourself?

Outside of work I really really enjoy being outdoors whether it’s on the beach or on a mountain bike and I’ve taken part in a couple of triathlons. I’m not a good athlete whatsoever,
but what gets me to the end is just high energy levels and high levels of enthusiasm.

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