The First Sentier Responsible Listed Infrastructure Fund (the Fund) is a PIE-compliant New Zealand-domiciled fund with investments managed by First Sentier Investors. FundRock NZ Ltd is the issuer and manager of the Fund.
- In April 2021 the fund became fully regulated under the FMCA.
- In September 2020, the First State Investments Global Listed Infrastructure Fund was renamed to First Sentier Global Listed Infrastructure Fund.
- In October 2022, First Sentier Global Listed Infrastructure Fund was renamed to First Sentier Responsible Listed Infrastructure Fund
| Investment Manager |
First Sentier Investors (Australia) IM Ltd |
|---|---|
| Investment Objectives |
The Fund aims to achieve capital growth and inflation-protected income by investing in a globally diversified portfolio of infrastructure securities, with a focus on companies that the Investment Manager believes can contribute to or benefit from sustainable development. The Fund aims to outperform the FTSE Developed Core Infrastructure ex – Pipelines Net Total Return Index (NZD hedged), after fees and expenses, but before investor taxes, over rolling five-year periods. |
| Investment Strategy | The Fund invests in shares of listed companies around the world that own or operate infrastructure assets. The infrastructure sector includes operating assets from the transport, utilities, energy and communications sectors. The assets held by these companies typically offer high barriers to entry, pricing power, and structural growth. The strategy is based on active, bottom-up security selection which seeks to identify mispricing. The Fund seeks to minimise risk through on-the-ground research, an emphasis on quality, and sensible portfolio construction. The Fund focuses on infrastructure companies that are delivering sustainable solutions from an environmental, social and economic point of view; and that are seeking to contribute to, or benefit from sustainable development. Currency exposure will be hedged back into New Zealand dollars using forward currency contract derivatives. |
| Benchmark |
UBS Global Infrastructure and Utilities 50-50 Index (NZD hedged) was the benchmark from inception until 31st March 2015.
FTSE Global Core Infrastructure 50-50 Net Index (NZD hedged) was the benchmark from 1st April 2015 – 4th October 2022. FTSE Developed Core Infrastructure ex – Pipelines Net Total Return Index (NZD hedged) from the 5th October 2022.
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