First State Global Listed Infrastructure Income
Also available as accumulation units
At a glance
| Initial charge | 4.00% |
|---|---|
| Initial saving | 3.75% |
| Annual charge | 1.50% |
| Annual saving | 0.100% ² |
| Total Expense Ratio | 1.58% |
| Launch date | 08-10-2007 |
| Launch price | £1.00 |
| Sector | Specialist |
| Fund size | £65 million |
| Number of holdings | 40 |
| Fund type | OEIC |
| Type of units | Income |
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
Seeking out consistent growth without undue risk is never easy. There has actually been a sector that has experienced this for thousands of years - infrastructure. The first recorded toll road was the Susa-Babylon highway in the 7th century BC. Aristotle and Pliny also mentioned toll roads. All through history there are instances of private citizens having to pay to use toll roads and bridges and other infrastructure assets.Move forward almost 3,000 years and nothing really changes. You can look almost anywhere on the planet and see private citizens paying to use roads, airports, tunnels and as populations increase so does the use of infrastructure assets. However infrastructure isn’t just about roads and ports. How does water reach our homes? Where does the electricity come from to power your TV? How does Russian gas reach your central
heating system? In answering these questions, infrastructure is involved. Not all infrastructure projects are successful, so it is not a one way bet. However infrastructure is essential to support our modern societies.
An excellent way to access these long term growth themes is via the First State Global Listed Infrastructure Fund. Interestingly, the manager is currently focusing on developed markets as he believes huge improvements are required after decades of under investment. There is also some emerging markets exposure where urbanisation is requiring huge infrastructure investment.
Full research
About the Fund Manager
Andrew Greenup
Located in: Sydney
Andrew joined Colonial First State Global Asset Management in July 2005 as a senior analyst in the Core Australian Equities team. Over this time Andrew has analysed five industry sectors. He has also performed the role of backup Portfolio Manager. Prior to this, Andrew worked at Allianz Global Investors as a senior analyst investing in Australian equities. Before funds management, Andrew worked at Credit Suisse First Boston as an equities analyst and Australian & New Zealand Banking Group as a credit analyst. Andrew holds a Bachelor Business (First Class Honours) from the Queensland University of Technology (QUT) and was awarded the QUT University medal. He has completed the Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia and is currently enrolled in the Australian Institute of Company Directors' (AICD) Company Directors Course.
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Income details
| Running yield | 2.73% (net) |
|---|---|
| Income paid | Bi-annually |
| Type of payment | Dividend |
All yields are variable and not guaranteed. The information is correct as at 30-06-2008.
Distribution dates
| Ex-dividend date | 01 August 2008 |
|---|---|
| Payment date ³ | 30 September 2008 |
Top 10 holdings
| Abertis Infraestructuras S.A. | 5.25% |
|---|---|
| American Tower Corp. Cl A | 4.96% |
| SUEZ | 4.91% |
| Koninklijke Vopak N.V. | 4.49% |
| E.ON AG | 4.11% |
| SES FDR | 4.04% |
| Macquarie Infrastructure Group | 3.82% |
| Vinci S.A. | 3.42% |
| Public Service Enterprise Group | 3.26% |
| TransCanada Corp. | 3.20% |
Top 10 sectors
| Industrial Transportation | 32.49% |
|---|---|
| Gas, Water and Multiutilities | 19.01% |
| Electricity | 18.84% |
| Oil Equipment, Services and Distribution | 5.43% |
| Technology Hardware and Equipment | 4.96% |
| Non-Classified | 4.91% |
| Cash and Equiv. | 4.86% |
| Media | 4.04% |
| Construction and Materials | 3.42% |
| Managed Funds | 2.04% |
Top 10 countries
| United States | 25.73% |
|---|---|
| France | 10.21% |
| Spain | 8.99% |
| United Kingdom | 8.78% |
| Australia | 7.24% |
| Germany | 5.90% |
| Japan | 5.16% |
| Cash and Equiv. | 4.86% |
| Netherlands | 4.49% |
| Luxembourg | 4.04% |
² Annual saving is not available in the SIPP.
³ If you elect to receive the income from a Vantage ISA, Fund or Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.
Last valuation as at 29-08-2008. Data accurate as at 30/06/2008.
