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

ClearBridge RARE Infrastructure Value Fund - Hedged

Investor Outcomes

The ClearBridge RARE Infrastructure Value Fund - Hedged (all classes) is available to retail and wholesale investors in Australia and New Zealand. The fund follows a currency-hedged version of our Infrastructure Value Strategy comprising of diversified infrastructure securities in developed and emerging markets.

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 Hedged after fees)

Performance 1 Month 3 Months 1 Year 3 Years 5 Years Inception4
ClearBridge RARE Infrastructure Value Fund - Hedged Class A Units123 4.9% 4.0% 22.9% 10.8% 8.5% 8.0%
OECD G7 Inflation Index + 5.5% pa 0.9% 3.0% 9.5% 7.6% 7.6% 7.2%
Excess Returns 4.0% 1.0% 13.4% 3.2% 0.9% 0.8%
S&P Global Infrastructure Index - Net Return AUD Hedged 2.7% 4.2% 25.3% 6.8% 5.7% -
MSCI AC World Index - Net Return Local 5.0% 3.8% 37.2% 17.1% 14.6% 7.6%

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 %
Union Pacific USA & Canada Rail 5.0% 1.8%
Exelon Corp USA & Canada Electric 4.9% 3.0%
CSX USA & Canada Rail 4.2% 1.3%
SSE Western Europe Electric 4.1% 5.0%
GetLink Western Europe Rail 3.8% 2.6%
Public Services Enterprise Group USA & Canada Electric 3.8% 3.2%
Pembina Pipeline USA & Canada Energy Infrastructure 3.4% 6.4%
American Tower USA & Canada Communications 3.4% 2.1%
East Japan Railway Asia Pacific Developed Rail 3.2% 2.3%
SBA Communications USA & Canada Communications 3.2% 0.8%
Fund details October 2021
Number of Securities 36
APIR Code TGP0008AU
Distribution Frequency Quarterly
Lastest Distribution (CPU) 0.50
Portfolio Weighted Average October 2021
Avg Market Capitalisation 64.1bn (AUD)
Div Yield (Forward) Gross 3.1%
5 Yr DPS Growth (p.a.) 7.1%
Avg Stock Gearing (Net Debt/EV) 34.5%
Interest Cover (Historic) 3.8x
EV/EBITDA (Forward) 15.9x

Fees & transaction costs for the ClearBridge RARE Infrastructure Value Fund - Hedged Class A Units
Base Management Fee 1.025% p.a. incl. the net effect of GST. Buy / Sell Spread 0.12% / 0.05%. Minimum Investment (AUD) 20,000.

Unit prices & distributions

Date CCY Nav Entry Exit
07/12/20217/12/21 AUD 1.1020 1.1033 1.1014
06/12/20216/12/21 AUD 1.0899 1.0912 1.0894
03/12/20213/12/21 AUD 1.0723 1.0736 1.0717
Date CCY CPU
30/09/2021 AUD 0.50
30/06/2021 AUD 4.87
31/03/2021 AUD 1.50
31/12/2020 AUD 1.50
30/09/2020 AUD 1.50
30/06/2020 AUD 0.25
31/03/2020 AUD 1.00
31/12/2019 AUD 1.00
30/09/2019 AUD 1.50
30/06/2019 AUD 0.25
31/03/2019 AUD 1.00
31/12/2018 AUD 1.00
30/09/2018 AUD 1.50
30/06/2018 AUD 3.28
31/03/2018 AUD 2.50

Fund commentary

Portfolio Insights
Value Strategy October Commentary

Value Strategy October Commentary

Our global listed infrastructure strategies performed in line or better than a range of infrastructure benchmarks, which underperformed global equities for the month.

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...
Infrastructure Insights Video
Investing in Global Listed Infrastructure

Investing in Global Listed Infrastructure

Matt Bushby, Head of Infrastructure Business Development, discusses the characteristics of an infrastructure investment and the key features in our investment approach for the ClearBridge Infrastructure Value Strategy.

More...

Investment Committee

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

Nick Langley
Nick Langley
Shane Hurst
Shane Hurst
Charles Hamieh
Charles Hamieh
Simon Ong
Simon Ong

Important information for investors

Franklin Templeton Australia Limited (AFSL No. 240827) (“Franklin Templeton”), as Responsible Entity, is the issuer of the ClearBridge RARE Infrastructure Value Fund - Hedged (ARSN121027709). 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*

SQM Research Report 2021 SUPERIOR**

SQM Research Report 2021 SUPERIOR**

Zenith Research Report 2021 RECOMMENDED***

Zenith Research Report 2021 RECOMMENDED***

Disclaimer

  1. Sources: Internal calculations for ClearBridge RARE Infrastructure Value Fund - Hedged Class A Units. 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 a AUD hedged 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 Value Fund - Hedged is 13/11/2006. 

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 DisclaimerThe 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  

** SQM Rating Disclaimer
The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

***Zenith Rating Disclaimer
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned March 2021) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only.  This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice.  It is not a specific recommendation to purchase, sell or hold the relevant product(s).  Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs.  Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website.  Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments.  Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners. com.au/RegulatoryGuidelines 

The Zenith Fund Awards were issued October 2020 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into consideration the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice. Investors should obtain a copy of and consider any relevant PDS or offer document before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.