For investors seeking reliable income, global diversification and inflation protection, specialist listed infrastructure portfolios aims to provide all three.

ClearBridge RARE Infrastructure Income Fund - Unhedged

The ClearBridge RARE Infrastructure Income Fund - Unhedged (all classes) is available to retail and wholesale investors in Australia. The fund follows our Infrastructure Income Strategy primarily aiming to provide investors with consistent income from infrastructure securities in both developed and emerging markets around the world. 

Key Portfolio Information

As at 31 August 2021 (returns in AUD after fees)

Performance 1 Month 3 Months 1 Year 3 Years 5 Years Inception4
ClearBridge RARE Infrastructure Income Fund - Unhedged Class A Units123 2.6% 9.2% - - - 10.8%
OECD G7 Inflation Index +5.5% 1.0% 3.1% - - - 4.9%
Excess Returns 1.6% 6.1% - - - 5.9%
S&P Global Infrastructure Index - Net Return AUD Unhedged 2.3% 6.8% - - - 9.3%
MSCI AC World - Net Return 3.1% 10.8% - - - 15.5%
  • Regulated & Contracted Utilities
  • User Pays Infrastructure
  • Cash
  • Other
Top 10 Positions Region Sector Weight % Forward Dividend %
Exelon Corp USA & Canada Electric 5.1% 3.2%
Clearway Energy USA & Canada Renewables 4.7% 4.2%
Atlas Arteria Asia Pacific Developed Toll Roads 4.6% 5.5%
Enbridge Inc USA & Canada Gas 4.3% 6.9%
Crown Castle USA & Canada Communications 4.2% 3.0%
Sydney Airport Asia Pacific Developed Airports 4.1% 3.0%
SSE Western Europe Electric 4.0% 5.0%
Public Services Enterprise Group USA & Canada Electric 3.8% 3.2%
Southern Company USA & Canada Electric 3.7% 4.1%
Pembina Pipeline USA & Canada Energy Infrastructure 3.6% 6.8%
Fund details August 2021
Number of Securities 36
APIR Code SSB6649AU
Distribution Frequency Quarterly
Lastest Distribution (CPU) 1.12
Portfolio Weighted Average August 2021
Avg Market Capitalisation 38.1bn (AUD)
Div Yield (Forward) Gross 4.6%
5 Yr DPS Growth (p.a.) 5.9%
Avg Stock Gearing (Net Debt/EV) 38.1%
Interest Cover (Historic) 3.6x
EV/EBITDA (Forward) 14.2x

Fees & transaction costs for the ClearBridge RARE Infrastructure Income Fund - Unhedged Class A Units

Base management fee 0.974% p.a. of the NAV of the Fund (being 0.95% plus the net effect of GST). Buy / Sell Spread 0.12% / 0.05%. Minimum Investment (AUD) 20,000.

Unit prices & distributions

Date CCY CPU
30/06/2021 AUD 1.12

 

Fund commentary

Portfolio Insights
Income Strategy August Commentary

Income Strategy August Commentary

Economic activity continued to be robust during the month, despite increasing infections caused by the COVID-19 variant strains. The effectiveness of vaccines in preventing hospitalisations has allowed mobility restrictions to begin to ease globally.

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Infrastructure Insights Video
Valuation of Infrastructure Assets Q2 2021

Valuation of Infrastructure Assets Q2 2021

Listen to Portfolio Manager Nick Langley discuss how variant COVID-19 strains are leading to differentiation within the infrastructure asset class. 

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Industry Insights Infrastructure Insights Portfolio Insights Video
Delivering Income from Infrastructure

Delivering Income from Infrastructure

Portfolio Manager Charles Hamieh joins Matt Bushby for a discussion of how the team analyses the return profiles of infrastructure companies across the globe, from user-pays assets such as rails and airports to regulated utilities. 

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Investment Committee

The ClearBridge RARE Infrastructure Income Fund - Unhedged is managed by an experienced investment committee comprising of the following members.

Nick Langley
Nick Langley
Shane Hurst
Shane Hurst
Charles Hamieh
Charles Hamieh
Daniel Chu
Daniel Chu

Important information for investors

Legg Mason Asset Management Australia Limited (AFSL No.307 727), as Responsible Entity, is the issuer of the ClearBridge RARE Infrastructure Income Fund - Unhedged (ARSN647332321). The information contained on this website is directed to wholesale investors and financial advisers only.

To view the Background Information for this fund, click here.

Contact us to find out how we can help investors allocate global listed infrastructure into their broader portfolio or to learn more about our other investment capabilities.

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Disclaimer

  1. Source: Internal calculations for ClearBridge RARE Infrastructure Income Fund - Unhedged Class A Units, income and growth data sourced from JPM. All index data sourced from Factset. Results over one year annualised.
  2. Fund Performance is net of fees, assuming all distributions are reinvested and before tax
  3. All values on an AUD unhedged basis and net of withholding taxes for benchmarks if applicable. Non AUD values converted into AUD using Factset Forex data.
  4. Performance inception date for ClearBridge RARE Infrastructure Income Fund - Unhedged is 13/04/2021.

Past performance is not indicative of future performance. 

While the information contained on this website has been prepared with all reasonable care, ClearBridge Investments Limited and its related companies (ClearBridge) accept no responsibility or liability for any errors, omissions or misstatements however caused. Any views expressed on this website are given as of the date of publication and such views are subject to change at any time.

This information is not personal advice. It has been prepared without taking account of individual objectives, financial situation or needs. Where an investment product is mentioned, potential investors should seek independent advice as to the suitability of the product to their investment needs. Reference to shares in a particular company, is not a recommendation to buy, sell or hold that stock. Investors should be aware that past performance is not indicative of future performance.

This website may contain forecasts, including in regard to targets, expected returns, PE ratios and dividend yields. Any such statements are based upon research undertaken by the ClearBridge investment team. This research incorporates ClearBridge’s reasonable assumptions and beliefs concerning future developments and their potential effect but are subject to risks and uncertainties that may be beyond ClearBridge’s control. Returns can be volatile, reflecting rises and falls in the value of underlying investments. Accordingly, ClearBridge does not provide any assurance or guarantee that future developments will be aligned with ClearBridge’s expectations, and actual results may differ materially from those expected by ClearBridge at the time of writing.

Legg Mason Asset Management Australia Limited (AFSL No. 240 827) (Legg Mason Australia) is a part of Franklin Resources, Inc. and the Responsible Entity for the ClearBridge RARE Infrastructure Value Fund - Hedged, ClearBridge RARE Infrastructure Value Fund - Unhedged, ClearBridge RARE Infrastructure Income Fund - Hedged, ClearBridge RARE Infrastructure Income Fund - Unhedged, and ClearBridge RARE Emerging Markets Fund. Applications to invest can only be made on the application form accompanying the most recent Fund Product Disclosure Statement (PDS) which is available on this website. Potential investors should consider the PDS and the Additional Information Booklet (AIB) before deciding whether to invest or continue to invest in the Funds. The PDS and AIB can also be obtained by contacting ClearBridge by telephone on (02) 9397 7300, by writing to Level 13, 35 Clarence Street, Sydney, NSW 2000, by fax on (02) 9397 7399 or by email at auclientservice@clearbridge.com. Legg Mason Australia can be contacted by writing to Legg Mason Australia, Level 47, 120 Collins Street, Melbourne, VIC 3000, by telephone on 1800 679 541 or by fax on (03) 9017 8690.  Legg Mason Australia does not guarantee any rate of return or the return of capital invested. Investments are subject to risks, including, but not limited to, possible delays in payments and loss of income or capital invested.

ClearBridge is wholly, indirectly owned by Franklin Resources, Inc., and part of ClearBridge Investments, LLC.