The Fisher Funds Property & Infrastructure Fund aims to achieve positive returns over the long term. We sometimes refer to this fund as the “backbone” fund because the companies within the portfolio own assets which are the backbone of society such as airports, railroads, power companies, industrial buildings and power companies. This fund is invested in a handpicked portfolio of high quality companies.
This type of asset is appealing as they typically generate predictable and recurring revenue streams through the investment cycle. This is because they provide essential products or services.
|American Tower Corporation||7.40%|
|Crown Castle International Corp||6.40%|
|-5% Share Price Change||-0.40% Contribution to Return|
American Tower Corporation
|5% Share Price Change||0.30% Contribution to Return|
|10% Share Price Change||0.20% Contribution to Return|
You can see the companies this Fund invests in below. Typically investments include airports, railroads power companies, cellphone tower networks and include Real Estate Investment Trusts (REIT’s).
The Property and Infrastructure Fund returned 1.3% for the month.
Napier Port (+5%) held an investor day during the month. The team highlighted progress with the its wharf expansion project, which is on time and budget and will expand capacity and increase efficiency within the port. Management outlined plans to grow earnings significantly over the next 5 years.
CMS Energy (-6%) underperformed as the company announced it will sell a non-core business which will temporarily reduce earnings. However, the proceeds will be used to accelerate the company’s decarbonisation of its electricity generation portfolio.
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