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| Fund Overview | The fund will be managed as a single portfolio of listed global infrastructure securities including 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 portfolio is intended to have exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered. The maximum absolute position of an individual stock is 7% of the fund. |
| Manager Comments | The strongest performer in July was US rail operator, KSU, up +15.1% on the back of solid Q2 reporting and on rumours of a private equity bid for the company. The weakest performer was US Utility, First Energy, down -25.2% on allegations of corporate corruption surrounding the use of a 501(c )4 structure for political lobbying. 4D noted the company is refuting all allegations and they believe the market overreacted to headlines. 4D continue to position the Fund for the prevailing economic outlook and infrastructure as a means of recovery as they look to capitalise on the raft of opportunities on offer. |
| More Information |
