| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| 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 best performer for the month was global port operator DPWorld, up +16% as the parent is seeking to take it private given their view that the market is not reflecting true value. 4D noted the balance of the portfolio was largely caught up in a virus-led sell-off which they discuss in detail in their latest report. 4D's view is that in current markets investors should hang on to quality businesses they already own, possibly even adding to their positions. They expect the coronavirus issue to pass, but not without obvious and significant personal and economic pain. |
| More Information |
