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.
Growth of AUD $10,000
As at 30 September 2020 (returns in AUD)
|Performance||1 Month||3 Months||1 Year||3 Years||5 Years||Inception4|
|RARE Value Representative Mandate123||1.4%||-0.2%||-6.6%||5.9%||6.4%||8.7%|
|OECD G7 Inflation Index + 5.5% pa||0.9%||1.4%||6.1%||7.0%||6.8%||7.1%|
|S&P Global Infrastructure Index - Net Return AUD Unhedged||0.0%||-2.6%||-19.6%||0.7%||3.1%||4.1%|
|MSCI AC World Index - Net Return AUD||-0.1%||3.9%||3.9%||10.4%||9.9%||6.4%|
|Top 10 Positions||Region||Sector||Weight %||Forward Dividend %|
|Union Pacific||USA & Canada||Rail||5.7%||2.1%|
|Public Services Enterprise Group||USA & Canada||Electric||5.1%||3.7%|
|Vinci||Western Europe||Toll Roads||4.3%||2.9%|
|Severn Trent||Western Europe||Water||4.1%||4.2%|
|Sempra||USA & Canada||Electric||3.9%||3.8%|
|Transurban||Asia Pacific Developed||Toll Roads||3.9%||2.9%|
|Nextera||USA & Canada||Electric||3.8%||2.2%|
|American Tower||USA & Canada||Communications||3.7%||2.2%|
|Cheniere||USA & Canada||Energy Infrastructure||3.6%||0.0%|
|Edison International||USA & Canada||Electric||3.6%||5.1%|
|Portfolio Weighted Average||September 2020|
|Avg Market Capitalisation||49.9bn (AUD)|
|Div Yield (Forward) Gross||3.1%|
|5 Yr DPS Growth (p.a.)||7.1%|
|Avg Stock Gearing (Net Debt/EV)||38.3%|
|Interest Cover (Historic)||3.7x|
General equities performed strongly during the quarter, supported by ongoing policy stimulus and an improved economic outlook.
As the COVID-19 pandemic continues, the extraordinary measures aimed at mitigating its spread are testing business models and strategies. So what can be relied upon?
The RARE Value Strategy is managed by an experienced investment committee comprising of the following members:
Portfolio Manager Nick Langley discusses how global infrastructure will play a key role in the world meeting ambitious net-zero carbon emissions targets. He highlights how, given the high levels of government spending underway to cope with the pandemic, economies around the world will rely on the private sector to fund many emission-lowering initiatives, both for regulated infrastructure such as utilities and for user-pays assets such as rail and airports.View full article More RARE Insights
Sources: RARE internal calculations for RARE Infrastructure Value Strategy. All index data sourced from Factset. Results over one year annualised.
Fund Performance is Gross of fees.
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.
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.