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UBS CBRE Global Infrastructure Securities Fund

About this Fund

Fund Detail

PDS https://informedinvestor.com.au/view/pds/101616-2023-08-08-03:03.pdf
FUND MANAGER CBRE Clarion Securities, LLC
ASX Code
APIR UBS0064AU
ASSET CLASS INFRASTRUCTURE
INVESTMENT STYLE

The Fund is an actively managed fund that invests in global listed infrastructure securities. The Portfolio Manager is an active asset manager that uses fundamental analysis to build a portfolio of global listed infrastructure securities. The Fund will primarily invest in companies that derive stable income from owning or operating long-duration infrastructure assets.

INVESTMENT PROFILE The Fund aims to provide a total return consisting of capital growth and income that outperforms (after management costs) the Benchmark over rolling three year periods.
CURRENCY MANAGEMENT Hedged
INCEPTION DATE 04-08-2016
BENCHMARK FTSE Global Core Infrastructure 50/50 Index (Net) AUD Hedged
FUND SIZE FTSE Global Core Infrastructure 50/50 Index (Net) AUD Hedged
DISTRIBUTION FREQUENCY Half-yearly
NO. OF HOLDINGS 40-60
FEES 1.00% p.a. of the NAV of the Fund
STRUCTURE

Benefits

Benefits

Benefits of investing in the UBS CBRE Global Infrastructure Securities Fund

The significant benefits and features of investing in the Fund are:

  • Investment return: The fund seeks to provide total returns, consisting of income and capital growth, by investing in infrastructure securities that may provide predictable and stable cash flows.
  • Diversification: The Fund invests in infrastructure companies that provide a diversified exposure across geographical and infrastructure sectors which may include transportation, utility, energy and communications assets.
  • Research resources: The Portfolio Manager has a large, experienced team specialised in managing global infrastructure stock portfolios. The Portfolio Manager's global research team is located in offices in the United States, the United Kingdom, Japan and Australia and provides a comprehensive world view through their in-depth analysis of listed infrastructure market trends and regulatory conditions.
  • Growing investment universe: The infrastructure market is growing due to the on-going need to invest in aging infrastructure in the developed markets, changing energy needs (driving investment in gas and renewable infrastructure), and the need for new infrastructure to support the growth of emerging markets.
  • Distributions: The potential to receive quarterly distributions.

Risk level

High

Investor suitability

The Fund is best suited to investors who seek exposure to a diversified portfolio of global listed infrastructure entities.

RISK LEVEL High
INVESTOR SUITABILITY

The Fund is intended to be suitable for investors with at least a seven year investment timeframe and with a high risk and return profile. More specifically, the Fund is intended to be suitable for investors who are seeking exposure to a diversified portfolio of global listed infrastructure entities. 

Risks

Title
Detail

Key Features

About the Fund

The Fund is an actively managed fund investing in global listed infrastructure securities across a range of geographic regions and infrastructure sectors which may include utilities, transportation, energy infrastructure and communication infrastructure.

The Fund will invest in listed infrastructure securities issued by global infrastructure companies, which are entities located throughout the world that derive at least 50% of their revenues or profits from, or devote at least 50% of their assets to, the ownership, management, development or operation of infrastructure assets.

The Fund aims to outperform (after management costs) the FTSE Global Core Infrastructure 50/50 Index (Net) (AUD Hedged) over rolling three year periods.

About CBRE Clarion Securities

UBS Asset Management (Australia) Ltd appointed CBRE Clarion Securities, LLC (the Portfolio Manager'). The Portfolio Manager is an investment advisory firm specialising in global listed property and global listed infrastructure securities and has been appointed as the investment manager in relation to the Fund.

The Portfolio Manager is the listed equity management division of CBRE Global Investors, a global real asset management firm with $151 billion (as at 31 March 2019) in assets under management.

Mandate

How we invest your money

The Fund will invest in listed infrastructure securities issued by global infrastructure companies, which are entities located throughout the world that derive at least 50% of their revenues or profits from, or devote at least 50% of their assets to, the ownership, management, development or operation of infrastructure assets.

Examples of infrastructure assets include:

  • transportation assets - including toll roads, railroads, airports and seaports
  • utility assets - including electric transmission and distribution lines, gas distribution pipelines, water pipelines and treatment facilities and sewer facilities
  • energy assets - including oil and gas pipelines, storage facilities and other facilities used for gathering, processing or transporting hydrocarbon products (such as crude oil, refined oil, natural gas and natural gas liquids)
  • communications assets - including communications towers and satellites

The Fund will generally own between 40-60 securities and is managed against a fully-hedged benchmark. We separately implement currency hedging after the construction of the portfolio by the Portfolio Manager.

The Fund will primarily invest in ordinary shares of listed infrastructure companies, unit trusts, cash, derivatives and currency instruments.

It may also invest in or acquire other equity-like securities such as preferred shares, convertible securities, depositary receipts and rights or warrants to buy ordinary shares.

Investment guidelines

Asset allocation

  • Infrastructure entities: 85-100%
  • Cash: 0-15%

Regional allocation

  • Americas: 20-70%
  • Europe: 10-45%
  • Asia developed markets: 0-35%
  • Emerging markets: 0-10%