ClearBridge RARE Emerging Markets Fund

The ClearBridge RARE Emerging Markets Fund is available to retail and wholesale investors in Australia and New Zealand. The fund follows our Emerging Market Strategy with the aim of providing investors with regular income and capital growth from infrastructure securities in emerging markets.

Key Portfolio Information

As at 31 March 2024 (returns in AUD after fees)

Performance 1 Month 3 Months 1 Year 3 Years 5 Years Inception4
ClearBridge RARE Emerging Markets Fund123 0.2% 6.2% 14.7% 8.2% 2.2% 8.5%
S&P Emerging Markets Infrastructure Index - Net Return AUD Unhedged 1.4% 6.2% 8.3% 5.1% -0.2% 3.1%
Excess Returns -1.2% - 6.4% 3.1% 2.4% 5.4%
MSCI Emerging Markets Index - Net Return AUD 2.3% 7.1% 11.0% -0.0% 4.0% 5.6%

As at 31 March 2024

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

As at 31 March 2024

Top 10 Positions Region Sector Weight % Forward Dividend %
CCR SA Latin America Toll Roads 5.5% 2.9%
Jasa Marga Asia Pacific Developing Toll Roads 5.1% 1.4%
Equatorial Latin America Electric 5.1% 2.5%
Rumo Logistica Latin America Rail 5.1% 0.1%
ICTS Asia Pacific Developing Ports 4.9% 0.0%
Eletrobras Latin America Electric 4.4% 4.5%
NTPC LTD Asia Pacific Developing Electric 4.4% 1.9%
Power Grid Asia Pacific Developing Electric 3.9% 1.5%
Daqin Railway Co., Ltd. Class A Asia Pacific Developing Rail 3.8% 6.3%
China Resources Gas Asia Pacific Developing Gas 3.7% 5.1%
Fund details March 2024
Number of Securities 35
APIR Code TGP0015AU
Distribution Frequency Semi-Annually
Lastest Distribution (CPU) 11.00
Portfolio Weighted Average March 2024
Avg Market Capitalisation 19.5bn (AUD)
Div Yield (Forward) Gross 3.6%
5 Yr DPS Growth (p.a.) 9.1%
Avg Stock Gearing (Net Debt/EV) 33.0%
Interest Cover (Historic) 4.9x
EV/EBITDA (Forward) 8.2x

For detailed information regarding our fees and transaction costs, please refer to the relevant Product Disclosure Statement here.

Unit prices & distributions

Date CCY Nav Entry Exit
17/04/202417/4/24 AUD 1.8260 1.8289 1.8225
16/04/202416/4/24 AUD 1.8309 1.8338 1.8274
15/04/202415/4/24 AUD 1.8511 1.8541 1.8476
Date CCY CPU
31/12/2023 AUD 11.00
30/06/2023 AUD 3.03
30/12/2022 AUD 2.50
30/06/2022 AUD 2.61
31/12/2021 AUD 1.25
30/06/2021 AUD 0.75
31/12/2020 AUD 1.50
30/06/2020 AUD 0.00
31/12/2019 AUD 2.00
30/06/2019 AUD 4.52
31/12/2018 AUD 2.50
30/06/2018 AUD 8.98
31/12/2017 AUD 2.50
30/06/2017 AUD 22.01
31/12/2016 AUD 8.00

Product commentary

Infrastructure Insights Portfolio Insights
Emerging Markets Strategy March Commentary

Emerging Markets Strategy March Commentary

On a regional basis, Asia Pacific was the top contributor for the quarter, led by GDP-sensitive port and airport holdings.

More...
Infrastructure Insights Video
Valuation of Infrastructure Assets Q4 2023

Valuation of Infrastructure Assets Q4 2023

In our latest Valuation update, Portfolio Manager, Daniel Chu outlines the contributors to infrastructure returns in the fourth quarter of 2023, and weighs in on the factors impacting different infrastructure sectors across the globe.

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Infrastructure Insights Video
Infrastructure Opportunities Amid Uncertainty

Infrastructure Opportunities Amid Uncertainty

Watch Portfolio Manager, Nick Langley discuss the drivers of recent listed infrastructure performance and highlight how stabilising real yields and strong company fundamentals are improving the outlook for the asset class.

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Investment Committee

The ClearBridge RARE Emerging Markets Fund is managed by an experienced investment committee comprising of the following members.

Nick Langley
Nick Langley
Shane Hurst
Shane Hurst
Charles Hamieh
Charles Hamieh
David Pow
David Pow

Important information for Investors

Franklin Templeton Australia Limited (AFSL No. 240827) ("Franklin Templeton"), as Responsible Entity, is the issuer of the ClearBridge RARE Infrastructure Emerging Markets Fund (ARSN132182462). 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

SQM Research Report 2023 SUPERIOR: 4.0 STARS*

SQM Research Report 2023 SUPERIOR: 4.0 STARS*

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. Sources: Internal calculations for ClearBridge RARE Emerging Markets Fund. 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 in AUD 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 Emerging Markets Fund is 30/9/2008.

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 [email protected]. 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.

* 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.