25 August 2010
LONDON – Marking the three year anniversary of the CF Macquarie Global Infrastructure Securities Fund (“the Fund”), portfolio manager Justin Lannen outlines investment opportunities in the sector.
In July the infrastructure sector1returned 3.10% compared to global equities2, which returned 2.97% whilst the Fund returned 6.32%.
Since launch the Fund3, which is not managed relative to a benchmark, has returned 20.16% over 12 months4 and 3.12 % since inception5, taking advantage of listed infrastructure investment opportunities found in emerging and developed markets6. The main geographic allocation of the Fund has been to developed markets; however emerging markets have comprised 10 – 15% of the portfolio since launch.
“Core infrastructure assets provide essential services; examples include water companies, electricity providers, and transportation hubs such as airports and seaports. We see infrastructure as a high growth asset class due to strong underlying demand and new growth opportunities,” said Justin Lannen, portfolio manager of the CF Macquarie Global Infrastructure Securities Fund.
“In the current environment we are seeing demand from investors looking for income as well as assets which may act as a hedge against rising inflation. Infrastructure companies often provide regulated rates of return and high dividend yields that are comparable to UK equity income funds,” said Lannen.
“Infrastructure is a unique asset class which has high barriers to entry. Macquarie Funds Group has a strong track record in managing infrastructure assets worldwide and the business is committed to helping UK investors access investment opportunities that would otherwise be closed to them,” said Duncan Hodnett, Associate Director – UK Distribution, Macquarie Funds Group.
CF Macquarie Global Infrastructure Securities Fund
The Fund aims to provide investors with a total return over the medium-to-long term consisting of income and capital growth. It invests in a global portfolio of typically 40 to 50 listed infrastructure securities, diversified across regions and sub sectors. The Fund is managed by Justin Lannen who has 12 years of investment experience, including eight years in the infrastructure and utility sectors. Justin is part of a team of four portfolio managers and six analysts dedicated to global infrastructure investment. The Authorised Corporate Director of the Fund is Capita Financial Managers Limited, Ibex House, 42 – 27 Minories, London, EC3N 1DX.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries, employing more than 14,600 people. Assets under management total approximately £197 billion as at 31 March 2010. Macquarie Group Limited is listed in Australia (ASX:MQG) and is regulated by APRA, the Australian banking regulator, as the owner of Macquarie Bank Limited, an authorised deposit taker. Macquarie Bank International Limited (registered in England No. 06309906) forms part of Macquarie Group and is authorised and regulated in the UK by the Financial Services Authority (FSA).
About Macquarie Funds Group (MFG)
The asset management arm of Macquarie Group is a full service asset manager with over 25 years experience. It offers a diverse range of products including managed funds across a wide range of asset classes, funds-based structured products, hedge funds and fund of funds. MFG has a global reach with a team of over 1000 staff across 20 global locations and manages approximately £127 billion of assets. MFG’s business in Europe is driven by a team of approximately 60 professionals located in 5 offices in London, Frankfurt, Munich, Vienna and Zurich.
For further information on Macquarie Funds Group and its range of UCITS III funds and UK OEIC funds please refer to www.macquariefunds.co.uk.
For further information, please contact:
Corporate Communications and Investor Relations Division
Macquarie Group Limited
Direct line: +44 (0)20 3037 2420
Direct line: +44 (0)20 7269 7218