Maple-Brown Abbott Global Listed Infrastructure Fund - Hedged

Performance

Performance
(as at 31 May 2018)

Performance 1 mth % 3 mths % 1 yr % p.a. Since inception % p.a. *
Fund ** -0.3 3.0 -5.7 7.1
Benchmark *** 0.8 2.0 7.8 7.3

Performance chart
(as at 31 May 2018)

Data Source: Maple-Brown Abbott

Unit price as at 21 Jun 2018

Redemption price $ 1.0778

Net asset value $ 1.0800

Application price $ 1.0822

Contact us

Maple-Brown Abbott

invest@maple-brownabbott.com.au

Phone: +61 (0) 2 8226 6200

Global Listed Infrastructure Fund
Quarterly Investment Update, March 2018
Steven Kempler

PERFORMANCE DISCLAIMER: Please note that the figures above represent past performance, and past performance is not a reliable indicator of future performance. Returns are volatile and may fluctuate quickly and significantly. Neither Maple-Brown Abbott Limited nor any other person makes any representation nor gives any guarantee as to the future performance or success of, the rate of income or capital return from, recovery of money invested in, or income tax or other taxation consequences of, any investment in the trusts shown on this website.

* Inception date is 14 July 2015.

** Total return is based on the movement in net asset value per unit plus distributions and is before tax and after all fees and charges. Imputation and foreign income tax offsets are not included in the performance figures.

*** The benchmark is the OECD Total Inflation Index + 5.5% p.a #

About the Fund

The Maple-Brown Abbott Global Listed Infrastructure Fund - Hedged is an actively managed global listed infrastructure securities portfolio with a focus on regulated, contracted and concession assets or networks that provide essential services. We will substantially hedge all of the Fund’s currency exposure back to Australian dollars.

Currently, the Fund gains exposure to global listed infrastructure securities by purchasing units in the Maple-Brown Abbott Global Listed Infrastructure Fund.

Investment objective

The Fund aims to outperform the benchmark over rolling five-year periods. The benchmark is an accumulation index, maintained daily by us, comprised of the OECD Total Inflation Index plus 5.5% per annum.

Key benefits

  • Investment expertise: the opportunity to invest in a fund managed by a dedicated team with many years’ experience
  • Investment return: the potential to provide investment returns in line with the investment objective
  • Investment growth and distributions: access to an international share portfolio that aims to deliver medium to long term capital growth, along with the potential to receive quarterly distributions
  • Broader investment opportunities: access to investment opportunities, markets and risk management techniques not generally available to individual investors
  • Regular reporting: comprehensive investment reports and transaction, distribution and annual tax statements
  • Liquidity: timely access to your investment including daily unit prices

Fund facts
(as at 31 May 2018) Latest Fact Sheet

Fund size $ 214.6 Million
APIR code MPL0008AU
Inception date Jul 2015
Distribution frequency Quarterly
Unit pricing frequency Daily
Minimum initial investment $ 20,000
Minimum additional investment $ 5,000

Significant holdings
(as at 31 May 2018)

Crown Castle Intl Corp
Enbridge
Flughafen Zuerich
Getlink
Hydro One
Kinder Morgan
National Grid
Severn Trent
Transurban Group
Vopak

Value and balance sheet characteristics
(as at 31 May 2018)

  Fund
Number of Stocks 30
Dividend Yield (%) 4.6
EV/EBITDA * (x) 11.1
Gearing (Net Debt/EBITDA) (x) 4.4

* Enterprise Value/Earnings before interest, taxes, depreciation and amortisation.

Based on fund weighted averages.

Risk measures
(as at 31 May 2018)

  Fund Benchmark
Annualised Daily Volatility (%) * 10.0 11.6
Beta vs MSCI World 0.8

* Since inception.

Sector weights
(as at 31 May 2018)

Country weights
(as at 31 May 2018)

Distributions

Distribution history

Here you will find the distribution history for the Fund.

Generally, the main components of distributions are dividends received, and interest, realised capital gains and other income derived by the Fund, less fees and expenses.

The distributions are expressed as cents per unit.

If you would like more information or have any questions, please contact us on +61 (0) 2 8226 6200 or accounting@maple-brownabbott.com.au.

Date Cents per unit Div 12-H Summary Taxable Component Summary
31/03/2018 0.6500 ¢ Div 12-H Summary Tax Component Summary
31/12/2017 0.6500 ¢ Div 12-H Summary Tax Component Summary
30/09/2017 0.6500 ¢ Div 12-H Summary Tax Component Summary
30/06/2017 3.8613 ¢ Div 12-H Summary Tax Component Summary
31/03/2017 0.6500 ¢ Div 12-H Summary Tax Component Summary

Download distribution history

Unit prices

Unit price history

Here you will find the unit price history for the Fund.

If you would like more information or have any questions, please contact us on +61 (0) 2 8226 6200 or accounting@maple-brownabbott.com.au.

Date Redemption price Net asset value Application price
21/06/2018 $ 1.0778 $ 1.0800 $ 1.0822
20/06/2018 $ 1.0839 $ 1.0861 $ 1.0883
19/06/2018 $ 1.0767 $ 1.0789 $ 1.0811
18/06/2018 $ 1.0780 $ 1.0802 $ 1.0824
15/06/2018 $ 1.0786 $ 1.0808 $ 1.0830
14/06/2018 $ 1.0808 $ 1.0830 $ 1.0852
13/06/2018 $ 1.0736 $ 1.0758 $ 1.0780
12/06/2018 $ 1.0731 $ 1.0753 $ 1.0775
08/06/2018 $ 1.0620 $ 1.0641 $ 1.0662
07/06/2018 $ 1.0678 $ 1.0699 $ 1.0720

^ Ex price.

Download unit price history

Forms & reports

Forms & reports

Below is a range of important forms and reports that are available.

To invest with us you should ensure you have read the Product Disclosure Statement (PDS), including the Additional Information Booklet (AIB), before completing the Initial Application.

The Fact Sheet will provide you with an update on the Fund including performance and positioning.

If you would like more information or have any questions, please contact us on +61 (0) 2 8226 6200 or invest@maple-brownabbott.com.au.

Invest now

Invest now

It is easy to invest with Maple-Brown Abbott, just follow the steps below. And if you have any questions please contact us on 1800 034 402.


Step 1: Read the current Product Disclosure Statement (PDS)

Carefully read the Product Disclosure Statement (PDS) including the Additional Information Booklet (AIB) to ensure that you understand how the product works and the risks involved.

Or, you can request a paper copy be mailed to you by completing our online form or contacting us on 1800 034 402.


Step 2: Make an Initial Application


Existing investors should use the Additional Investment Request below.

Step 3: Investment confirmation

Once your application and payment are received, you'll receive confirmation of your investment details.


Still need help?

If you have any questions, please contact us 1800 034 402 or invest@maple-brownabbott.com.au.


Fees And Costs

Management Costs *

Base
Fee
% 1 & 2
Indirect
Costs
% 3
Recoverable
Expenses
% 3 & 5
Total

%
1.00 n/a n/a 1.00

1) Unless otherwise stated, all fees are quoted on a GST inclusive basis and net of any applicable Reduced Input Tax Credits.


2) The base fee is the fee we charge for managing the assets and overseeing the operations of the Fund, expressed as a percentage of the net asset value of the Fund. The Fund invests part of its assets in other funds which we manage. Base fees in those funds are either rebated or not charged, in respect of an investment by the Fund to avoid double counting of fees in respect of those underlying funds.


3) All other components of the management costs are based on the indirect costs and recoverable expenses incurred during the prior financial year ended 30 June.


5) Under the Fund’s Constitution we are entitled to be reimbursed for authorised expenses incurred in managing and administering a Fund, however at present we have chosen not to be reimbursed for routine fund expenses including registry, custodian, accounting, audit costs and legal expenses (excluding transaction costs) which are paid by us out of our base fee. Any levy payable to the Australian Securities and Investments Commission (ASIC) may however be paid out of the Fund.


* Fees may be negotiated if you are a wholesale investor as defined in the Corporations Act 2001 (Cth).



Transactional and Operational Costs

Total transactional and
operational costs
% 1
Less buy-sell
spread recovery
% 2
Net transactional and
operational costs
%
3
0.31 0.18 0.13

1) Transactional and operational costs represent the estimated costs from the Fund’s investing activities. These costs are in addition to the management costs. The transactional and operational costs are reflected in the unit price and impact the performance of the Fund. These costs include brokerage, settlement costs, clearing costs, stamp duty and other taxes on an investment transaction. It also includes the difference between the price paid for purchasing securities and the price that would be payable if selling securities (i.e. bid/ask spread).


2) Buy-sell spread recovery represents the amount charged to investors that relates to investor applications and withdrawals.


3) Based on the estimated costs incurred during the prior financial year ended 30 June, expressed as a percentage of the average Fund net asset value.



Buy / Sell Spreads *

Total spread
%
0.20 / 0.20

* The buy-sell spread is an additional cost to you. This ensures existing investors are not disadvantaged due to the costs associated with buying or selling the Fund’s investments as a result of applications and withdrawals.