Data is at market close and rounded to 2 decimal places.

Fund size
No of holdings
Historic yield*
Share class
Share priceB Acc GBP
Fact sheet
  • Fund overview
  • Investment approach
  • Risks

The fund aims to provide investors with income and the prospect of long-term capital growth.

The fund invests in companies active in infrastructure assets. These are typically companies involved in the movement and storage of goods, people, water, energy and may include:

  • Regulated businesses including utilities, oil pipelines and transmission of power.
  • Transportation businesses such as airports, marine ports, bridges and toll roads.
  • Communication businesses including mobile and fixed line telecommunications.

Key points:

  • Approximately two thirds of underlying profits of the companies in which the fund proposes to invest are directly linked to inflation, which means that when prices of utilities such as electricity or gas rise, so will the profits.
  • Concentrated portfolio holding 40-50 stocks.
  • Managed by an experienced infrastructure fund manager, Jim Wright who previously managed the listed infrastructure portfolio within the British Steel Pension Fund for over 10 years.

*The historic yield reflects distributions declared over the past twelve months as a percentage of the mid-market price, as at 31 August 2020. This yield should not be seen as a future forecast. It does not include any preliminary charge and investors may be subject to tax on their distributions.

The material within these webpages is not a recommendation to buy or sell any of the investments referred to herein. Premier Miton does not give financial advice. If you are unsure as to the suitability of the investments mentioned please contact a financial adviser. The value of investments can fall as well as rise and you may not get back the original amount invested. Please see the Risks section above for a list of all associated risks.

The manager employs a robust investment process combining quantitative and qualitative analysis to find the most attractive investment opportunities.

The manager believes companies that are invested in infrastructure assets provide a compelling investment opportunity. These companies provide stable and visible long-term returns which are frequently linked to inflation and have limited exposure to economic cycles.

The manager’s investment process has five steps:

  • Asset filter - Are the underlying assets of the company, in a region / industry with an attractive outlook for investment?
  • Balance sheet - Is the company carrying an appropriate level of debt in relation to its assets?
  • Dividend cover - Is the amount of dividend currently paid out by the company sustainable?
  • Growth - Does the company provide visible and sustainable dividend growth?
  • Valuation - Does the company's current share price provide good value?
  • The value of investments may fluctuate which will cause fund prices to fall as well as rise and investors may not get back the original amount invested.
  • Fees will be deducted from capital which will increase the amount of income available for distribution; however this will erode capital and may constrain capital growth.
  • For funds investing globally, currency exchange rate fluctuations may have a positive or negative impact on the value of your investment.
  • This fund may experience high volatility due to the composition of the portfolio or the portfolio management techniques used.
  • The fund will invest predominantly in companies that have exposure to infrastructure. This can mean the fund is more sensitive to price swings than other less concentrated funds.
  • In certain market conditions companies may reduce or even suspend paying dividends until conditions improve. This will impact the level of income distributed by the Fund.

Objective and investment policy

To provide investors with income and long-term capital growth. The fund will invest at least 80% in the shares of infrastructure companies worldwide. This can include companies in the utility, energy pipeline and storage, telecommunications and transportation sectors. The fund may also invest in other funds and cash.

Jim Wright
Fund manager

Fund facts

Fund launch date23 March 2017
IA sectorGlobal Equity Income
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November

Fund facts

Fund size£42.1m
Fund launch date23 March 2017
IA sectorGlobal Equity Income
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November