Legg Mason IF CB Glb Infras Inc X Acc

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Trading AccountISAJISASIPP

Fund Info

  • Yield History6.59%
  • 3 Year sharpe1.00
  • 3 Year alpha8.44
  • Distribution Typeaccumulation
  • BenchmarkOECD G7 Inflation +5.5%
  • Legal StructureOpen Ended Investment Company
  • Fund Size (month end)Open Ended Investment Company
  • OCF0.92%
  • IA SectorGlobal Equity Income
  • Manager GroupFranklin Templeton
  • DomicileUnited Kingdom
  • ISINGB00BZ01WV25

Investment Strategy

To provide investors with an income comprised of dividends with a secondary investment objective of long-term (over five or more years) capital growth. The Fund seeks to outperform the OECD G7 Inflation Index by 5.5% over an investment time frame of five years (gross of fees). The Fund seeks to achieve its objective by investing at least 80% of the Fund’s net asset value in a diverse range of global listed infrastructure securities across a number of infrastructure sub-sectors such as gas, electricity and water utilities, toll-roads, airports, rail and communication infrastructure and across different geographic regions, under normal market conditions. The investments of the Fund will principally (being at least 80% of the Fund’s net asset value) include securities listed on stock exchanges of developed countries.

ii Super 60 selected

This Fund is a member of our ii Super 60 rated list

Legg Mason IF ClearBridge Global Infrastructure Income is targeted at investors with two primary objectives – reliable income generated from dividends of underlying holdings and capital growth above the level of inflation over five years. The managers seek to outperform the OECD G7 Inflation index by 5.5% over an investment timeframe of five years.

The fund invests in a diverse basket of global listed infrastructure assets in various sub-sectors such as water utilities, gas, electricity etc. The portfolio is also spread across different geographical areas, with the US, Australia and Canada the top three country weightings.

The fund is run by the highly regarded and well-resourced infrastructure team at ClearBridge Investments. It is co-managed by Nick Langley, Shane Hurst, Charles Hameih and Daniel Chu, who are based in Australia but regularly travel to their additional offices in the UK, Europe and North America. They also have the support of a team of analysts responsible for idea generation and ongoing monitoring of existing holdings.

The investment process takes into account both ‘top-down’ macroeconomic factors and ‘bottom-up’ fundamental stock-specific research. The team’s philosophy is that markets tend to misprice infrastructure assets over the short-term and there is a great opportunity set in taking a long-term valuation-focused approach.

The managers run a concentrated portfolio of around 40 holdings. Examples of holdings include the Spanish electricity grid corporation Red Electrica, and Brookfield Renewable which operates one of the world's largest renewable power platforms.

January 2021

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