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. 

We're honoured to have won the Infrastructure category for both 2020 and 2021 at the Zenith Fund Awards.

Zenith

Key Portfolio Information

As at 31 October 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 0.7% 2.5% - - - 10.7%
OECD G7 Inflation Index +5.5% 0.9% 3.0% - - - 6.9%
Excess Returns -0.2% -0.5% - - - 3.8%
S&P Global Infrastructure Index - Net Return AUD Unhedged -0.4% 1.7% - - - 8.7%
MSCI AC World - Net Return 1.1% 1.1% - - - 13.3%

As at 31 October 2021

  • Regulated & Contracted Utilities
  • User Pays Infrastructure
  • Cash
  • Other

As at 31 October 2021

Top 10 Positions Region Sector Weight % Forward Dividend %
Exelon Corp USA & Canada Electric 5.3% 3.0%
SSE Western Europe Electric 5.0% 3.9%
Clearway Energy USA & Canada Renewables 4.8% 3.7%
National Grid Western Europe Electric 4.3% 5.4%
Atlas Arteria Asia Pacific Developed Toll Roads 4.1% 6.1%
AusNet Services Asia Pacific Developed Electric 3.8% 3.9%
Pembina Pipeline USA & Canada Energy Infrastructure 3.8% 6.4%
Crown Castle USA & Canada Communications 3.8% 3.2%
Public Services Enterprise Group USA & Canada Electric 3.7% 3.2%
Enbridge Inc USA & Canada Gas 3.4% 6.6%
Fund details October 2021
Number of Securities 36
APIR Code SSB6649AU
Distribution Frequency Quarterly
Lastest Distribution (CPU) 1.75
Portfolio Weighted Average October 2021
Avg Market Capitalisation 37.8bn (AUD)
Div Yield (Forward) Gross 4.6%
5 Yr DPS Growth (p.a.) 5.5%
Avg Stock Gearing (Net Debt/EV) 37.9%
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
30/09/2021 AUD 1.75
30/06/2021 AUD 1.12

 

Fund commentary

Portfolio Insights
Income Strategy October Commentary

Income Strategy October Commentary

Macroeconomic factors continued largely in the same vein as in previous months, with the markets focused on supply chain disruptions and the sustained high level of inflation, including high energy prices.

More...
Infrastructure Insights Video
Valuation of Infrastructure Assets Q3 2021

Valuation of Infrastructure Assets Q3 2021

Listen to Portfolio Manager Shane Hurst discuss how debate about persistent inflation, high energy prices, supply chain bottlenecks and new variations of COVID saw idiosyncratic drivers such as M&A, asset sales and energy transition concerns drive returns.

More...
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. 

More...

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

Franklin Templeton Australia Limited (AFSL No. 240827) ("Franklin Templeton"), 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.

Research Ratings

Lonsec Research Report 2021 RECOMMENDED*

Lonsec Research Report 2021 RECOMMENDED*

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.

Franklin Templeton Australia Limited (AFSL No. 240827) (“Franklin Templeton”) 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 (the “Funds”). 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. Franklin Templeton can be contacted by writing to Franklin Templeton, Level 47, 120 Collins Street, Melbourne, VIC 3000, by telephone on 1800 679 541 or by fax on (03) 9017 8690.  Franklin Templeton 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.

Lonsec Rating Disclaimer

The Lonsec Rating (assigned 21 July 2021) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold ClearBridge managed product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. 
For further information regarding Lonsec’s Ratings methodology, please refer to our website at: http://www.lonsecresearch.com.au/research-solutions/our-ratings