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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 portfolio performer for January was European tower operator Cellnex (+17.1%) as the market recognises management's strong execution of its growth strategy. The weakest performer was US midstream operator Williams (-12.8%) as the market becomes increasingly concerned about the financial viability of some of its counter parties in the Marcellus/Utica region in a low commodity price environment. 4D Infrastructure think the sell-off has been overdone. 4D Infrastructure remain positive about the market outlook for 2020. With some of the big macro issues having progressed, 4D expect to see a lift in market confidence and global economic activity. |
| More Information |
