The Fund will be managed as a single portfolio of listed global infrastructure securities. Infrastructure is defined to include regulated utilities in gas, electricity and water; transport infrastructure such as airports, ports, roads and rail; contracted or regulated energy such as renewable energy providers and pipeline operators; and communication assets such as towers.

The Fund’s objective is to identify quality listed global infrastructure securities, trading below fair value, with sustainable, growing earnings combined with sustainable, growing dividends.

Benefits of investing in the 4D Global Infrastructure Fund

The significant benefits of investing in the Fund are:

• access to a share portfolio that aims to consistently deliver above-benchmark returns over the medium to long term;

• investing with a quality team of highly experienced investment professionals who undertake comprehensive, ongoing research to assess the earnings prospects and relative valuations of the stocks in their investment universe;

• regular reporting including monthly statements, quarterly income distribution statements and annual tax statements; and

• easy access to your investment information including regular reporting.

Risk Level

High

Investor Suitability

The Fund is suitable for investors who:

• are primarily seeking capital growth from a portfolio of listed global infrastructure stocks;

• are seeking income via dividends; and

• have a high tolerance for risk.

Investment objective

The Fund's objective is to identify quality listed global infrastructure securities, trading at or below fair value with sustainable, growing earnings combined with sustainable, growing dividends.

The investment process is designed to take advantage of the best opportunities available in the global market for listed infrastructure securities. It has regard for market conditions and the timing of trade execution, so as to capitalise on price dislocations in the market.

The Fund seeks to deliver returns that outperform the Benchmark (being the OECD G7 inflation index + 5.5% per annum) over the longer term.

Fund strategy

The Fund will be managed as a single portfolio of listed global infrastructure securities. Infrastructure is defined to include regulated utilities in gas, electricity and water; transport infrastructure such as airports, ports, road and rail; as well as communication assets such as the towers and satellite sectors.

The Fund is intended to be truly global with exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered.

How we invest your money

The investment process is designed to take advantage of the best opportunities available in the global market for listed infrastructure securities. It has regard for market conditions and the timing of trade execution, so as to capitalise on price dislocations in the market.

Minimum market capitalisation and daily trading thresholds apply with respect to securities on an individual entity basis to mitigate liquidity risk for investors.

Asset classes and strategic asset allocation

The Fund can invest in the following asset classes:

• equities: 90 - 100%;

• cash and cash equivalents: 0 - 10%; and

• derivatives: 0 - 10%

Derivatives will primarily be used as an alternative to the direct purchase of a security.

Maximum absolute position

The Fund's maximum absolute position (portfolio weight) of an individual stock is 7% of the Fund.