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FirstChoice WS Pers Super - First Sentier WS Global Listed Infrastructure

Carbon Down, Harden up
Magellan Sep 2022 Infrastructure Strategy Update

About this Fund

Fund Detail

PDS https://informedinvestor.com.au/view/pds/106353-2024-06-22-02:26.pdf
FUND MANAGER First Sentier Investors
ASX Code
APIR FSF0953AU
ASSET CLASS INFRASTRUCTURE
INVESTMENT STYLE

The option invests in shares of infrastructure companies around the world. 
INVESTMENT PROFILE

To deliver capital growth and inflationprotected income by investing in a globally diversified portfolio of infrastructure securities. The option aims to outperform the FTSE Global Core Infrastructure 50/50 Index, hedged to Australian dollars, over rolling three-year periods before fees and taxes.
CURRENCY MANAGEMENT Hedged
INCEPTION DATE 19-05-2008
BENCHMARK FTSE Global Core Infrastructure 50/50 Index, hedged to Australian dollars
FUND SIZE FTSE Global Core Infrastructure 50/50 Index, hedged to Australian dollars
DISTRIBUTION FREQUENCY Quarterly
NO. OF HOLDINGS
FEES 1.47% p.a.
STRUCTURE

Benefits

Benefits

Infrastructure provides essential services for the way we live. It also offers investment opportunities as companies look to solve issues around digital connectivity, urban congestion and renewable energy.

  • Listed infrastructure provides essential services to society, making it less sensitive to the economic cycle. 

  • Growth is being driven by long term structural themes such as the build-out of renewable energy; the need to ease urban congestion; and increasing reliance on mobile data. 

  • Focus on environmental stewardship and social license to operate ensures long term, sustainable returns to shareholders.

  • Effecting change through ongoing engagement and dialogue with companies. 
RISK LEVEL Very High
INVESTOR SUITABILITY

Risks

Title
Detail

Key Features

The infrastructure sector includes operating assets from the transport, utilities, energy and communications sectors. The assets held by these companies typically offer high barriers to entry, pricing power, and structural growth. The strategy is based on active, bottom-up security selection which seeks to identify mispricing. The option seeks to minimise risk through on-the-ground research, focus on quality and sensible portfolio construction. This option aims to hedge its currency exposure.

Delve deeper into a global equities exposure

Based on our analysis, many global equity managers hold less than 2% of their portfolios in infrastructure assets – and these positions tend to be concentrated in the larger utility names. We have generated much of our alpha from growing mid cap stocks, such as toll roads, oil storage and gas utilities, which are often under-researched by global equity managers.

Infrastructure the world relies on

Over the past 15 years, global listed infrastructure has returned over 3% more than global equities on average with a lower level of volatility.*

These attractive risk-adjusted returns have been delivered by assets with high barriers to entry, strong pricing power, predictable cash flows and sustainable growth.

Mandate

Asset Allocation

Benchmark 0 -100%

Infrastructure securities  90–100%

Cash 0–10%