4D Infrastructure: providing access to global infrastructure securities
Invest in the fund via mFund code: 4DI01
The 4D Global Infrastructure Fund invests in listed infrastructure companies across all four corners of the globe. It consists of a concentrated portfolio of 30-60 stocks, and aims to identify quality listed infrastructure securities trading below fair value with sustainable, growing earnings and dividends.
Decades of underspend and the changing dynamics of the global population is driving an insatiable need for infrastructure investment across the globe. Rapid population growth and the rise of the middle class in emerging markets are major contributors to this demand. As personal incomes rise, so does the expected standard of living, triggering a demand for essential utilities – clean water, waste services and power – and infrastructure that supports efficiency and a better quality of life, such as roads and airports. By contrast, years of under-investment in infrastructure in developed countries has resulted in a call for much-needed replacement spend. In both cases, governments are not in a financial position to fund their country’s growing infrastructure need.
This presents a major investment opportunity for the private sector. 4D looks to capitalise on this global need, acquiring assets below their fundamental value to deliver investors the best possible opportunities from the full spectrum of global listed infrastructure stocks.
The Fund is index-unaware, meaning the portfolio offers access to the team’s best ideas – not the index-relative best. While the strategy is value driven, the team believes the investment risk and merit of a country is just as important as that of an individual company, and both are assessed equally as part of the investment process – with the team then taking advantage of market inefficiencies within countries they deem suitable for investment.
As a subset of the broader global equity market, listed infrastructure companies usually offer lower volatility than the overall equity market as a result of their defensive characteristics, visible earnings and yield support. The possibility of more consistent returns can be an attractive attribute for those looking to add a defensive element within their equity exposure.
Now available on mFund under code 4DI01
This information is issued by Bennelong Funds Management Ltd (ABN 39 111 214 085, AFSL 296806) (BFML) in relation to the 4D Global Infrastructure Fund. The Fund is managed by 4D Infrastructure, a Bennelong Funds Management boutique. The information provided is general information only. It does not constitute financial, tax or legal advice or an offer or solicitation to subscribe for units in any fund of which BFML is the Trustee or Responsible Entity (Bennelong Fund). This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, you should consider the appropriateness of the information based on your own objectives, financial situation or needs or consult a professional adviser. You should also consider the relevant Information Memorandum (IM) and or Product Disclosure Statement (PDS) which is available on the BFML website, bennelongfunds.com, or by phoning 1800 895 388 (AU) or 0800 442 304 (NZ). BFML may receive management and or performance fees from the Bennelong Funds, details of which are also set out in the current IM and or PDS. BFML and the Bennelong Funds, their affiliates and associates accept no liability for any inaccurate, incomplete or omitted information of any kind or any losses caused by using this information. All investments carry risks. There can be no assurance that any Bennelong Fund will achieve its targeted rate of return and no guarantee against loss resulting from an investment in any Bennelong Fund. Past fund performance is not indicative of future performance. Information is current as at 29 May 2019. 4D Infrastructure Pty Ltd (ABN 26 604 979 259) is a Corporate Authorised Representative of BFML.