Investor Outcomes

The RARE Infrastructure Value Strategy aims to provide investors with long-term, inflation-protected stable growth, comprised of consistent income & capital growth. This is achieved by investing in a range of listed infrastructure securities spread across geographic regions in both the developed and emerging markets.

Key Portfolio Information

Growth of AUD $10,000

30 September 2019

As at 30 September 2019 (returns in AUD)

Performance 1 Month 3 Months 1 Year 3 Years 5 Years Inception4
RARE Value Representative Mandate123 2.4% 4.7% 20.1% 12.6% 11.0% 10.0%
OECD G7 Inflation Index + 5.5% pa 0.5% 2.1% 7.1% 7.3% 6.8% 7.1%
Excess Returns 1.9% 2.6% 13.0% 5.3% 4.2% 2.9%
S&P Global Infrastructure Index - Net Return AUD Unhedged 2.0% 4.4% 21.7% 11.6% 10.4% 6.2%
MSCI AC World Index - Net Return AUD 2.0% 4.0% 8.8% 14.4% 12.4% 6.6%
Top 10 Positions Region Sector Weight % Forward Dividend %
Enbridge Inc USA & Canada Gas 5.5% 6.3%
Hydro One USA & Canada Electric 4.9% 4.1%
Sempra USA & Canada Gas 4.7% 2.6%
Cheniere USA & Canada Gas 4.7% 1.1%
Red Electrica Western Europe Electric 4.7% 5.7%
United Utilities Western Europe Water 4.4% 5.2%
Severn Trent Western Europe Water 4.3% 4.6%
Dominion Energy USA & Canada Electric 4.2% 4.6%
Emera Inc. USA & Canada Electric 4.0% 4.2%
Union Pacific USA & Canada Rail 3.9% 2.3%
Portfolio Weighted Average September 2019
Avg Market Capitalisation 44.9bn (AUD)
RARE Div Yield (Forward) Gross 4.0%
5 Yr DPS Growth (p.a.) 6.5%
Avg Stock Gearing (Net Debt/EV) 39.5%
Interest Cover (Historic) 4.2x
EV/EBITDA (Forward) 13.1x

Investment Committee

The RARE Value Strategy is managed by an experienced investment committee comprising of the following members:

Richard Elmslie
Richard Elmslie
Nick Langley
Nick Langley
Shane Hurst
Shane Hurst
Charles Hamieh
Charles Hamieh

Investors from outside Australia

Investors in other parts of the world, will be re-directed to Legg Mason who may offer this Strategy through various fund structures dependant on your location.

Explore Legg Mason Funds

Institutional Investors

For institutional investors looking for opportunities to invest in global listed infrastructure; please contact us directly.

CONTACT US TO FIND OUT MORE

Need more information or want to arrange a meeting?

Contact us to learn about how RARE helps investors allocate global listed infrastructure into their broader portfolio or to find out more about our investment capabilities, insights or funds.

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Why consider RARE?

RARE's investment approach to our actively managed strategies uses a bottom-up, fundamental analysis in our research process, undertaken within a rigorous analytical framework.

Discover the key features of our approach

Disclaimer

  1. Sources: RARE internal calculations for RARE Infrastructure Value Strategy. All index data sourced from Factset. Results over one year annualised.

  2. Fund Performance is Gross of fees.

  3. All values on a AUD basis and net of withholding taxes for benchmarks if applicable. Non AUD values converted into AUD using Factset Forex data.

  4. Performance inception date for RARE Infrastructure Value Strategy is 31/08/2006.

Past performance is not indicative of future performance.

While the information contained on this website has been prepared with all reasonable care, RARE Infrastructure Limited (“RARE”) and its related companies accept no responsibility or liability for any errors, omissions or misstatements however caused. This information is not personal advice. This information has been prepared without taking account of your objectives, financial situation or needs. Potential investors should seek independent advice as to the suitability of the Funds to their investment needs. The fact that shares in a particular company may have been mentioned should not be interpreted as a recommendation to buy, sell or hold that stock.

Legg Mason Asset Management Australia Limited (AFSL No. 240 827) (“Legg Mason Australia”) is the Responsible Entity for the RARE Infrastructure Value Fund (Hedged), RARE Infrastructure Value Fund (Unhedged), RARE Infrastructure Income Fund and RARE Emerging Markets Fund. Applications to invest can only be made on the application form accompanying the most recent Fund Product Disclosure Statement (PDS) which is available on this website. Potential investors should consider the PDS and the Additional Information Booklet (AIB) before deciding whether to invest, or continue to invest in the Funds. The PDS and AIB can also be obtained by contacting RARE. Contact RARE on (02) 9397 7300, or by writing to Level 13, 35 Clarence Street, Sydney, NSW 2000, by fax on (02) 9397 7399 or email at clientservice@RAREinfrastructure.com. Legg Mason Australia can be contacted by writing to Legg Mason Australia, Level 47, 120 Collins Street, Melbourne, VIC 3000, by telephone on 1800 679 541 or by fax on (03) 9017 8690. Past performance is not indicative of future performance.

Any opinions or outlook contained on this website is subject to change without notice and do not constitute investment advice or recommendations.