The Maple-Brown Abbott Global Listed Infrastructure Fund (PIE) (the ‘Fund’) provides New Zealand wholesale investors with exposure to an actively managed portfolio of global listed infrastructure securities across regulated, contracted and concession assets that provide essential services, with a focus on sustainability and ESG factors.
Investment Manager
Antipodes Partners Limited (‘Antipodes’) is the Fund’s investment manager and is responsible for making recommendations and decisions about what the Fund invests in. Antipodes sub-delegates the investment management responsibilities to the Maple-Brown Abbott Global Listed Infrastructure Team (‘MBA GLI’), who are a subsidiary of Antipodes. The Fund is invested in accordance with MBA GLI’s investment philosophy and process.
Investment Policy and Objectives
The Fund aims to outperform the FTSE Global Core Infrastructure 50/50 Index Net TR (100% hedged to the New Zealand dollar), after fees, over a five-year period.
The Fund is actively managed and is invested in global listed infrastructure securities across regulated, contracted and concession assets that provide essential services, with a focus on sustainability and ESG factors. Generally, the securities in the portfolio have a market capitalisation greater than US$500 million.
MBA GLI considers potential investments from a strictly selected infrastructure focus list of around 110 companies across more than 20 countries based on a tight definition of infrastructure. Stocks on the focus list are those the team believes provide the strongest combination of inflation protection and low volatility.
The team conducts fundamental research, including meeting with the companies and regulators and building financial models on companies. The team looks for companies that have good governance, as well as performs well on environmental matters. This bottom-up research is combined with a top-down approach to managing macroeconomic risks.
MBA GLI takes a high conviction approach to ensure the strongest stock views from the focus list are included in the portfolio. As a result, the portfolio is expected to have 25-35 global investments, diversified by country and sector.
Please refer to the Information Memorandum for the Mable-Brown Abbott Investment Funds (‘Scheme’) for more information about the Fund.
DISCLAIMER: The Fund is available only to persons who are 'Wholesale Investors', as defined in clause 3(2) and 3(3)(a) of Schedule 1 of the Financial Markets Conduct Act 2013 ('FMCA') or to persons who are not otherwise required to receive disclosure under Part 3 of the FMCA. If you are a Wholesale Investor, as defined by the FMCA, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.
