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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 for March was Brazilian Utility TAESA up 27.4% on the back of news that one of its controlling block is looking to exit with their stake to be sold by way of auction. The weakest performer in March was Chinese toll road operator Yuexiu Transport down 11.7% as it missed consensus forecasts for the FY and indicators suggest traffic remains under pressure from government mandated restrictions. 4D continue to position for the prevailing economic outlook and infrastructure as a means of a recovery as they continue to capitalize on the raft of opportunities currently on offer. |
| More Information |
