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.
Tilt Renewables Ltd. |
|
| 14% Share Price Change | 0.6% Contribution to Return |
Union Pacific Corporation » |
|
| 7% Share Price Change | 0.4% Contribution to Return |
Charter Hall Social Infrastructure REIT |
|
| -5% Share Price Change | -0.3% Contribution to Return |
| Crown Castle International Corp | 6.4% |
| Union Pacific Corporation | 6.2% |
| American Tower Corporation | 5.9% |
| Cash | 5.8% |
In November the Property & Infrastructure Fund returned 0.6% for the month.
Portfolio company renewable electricity company Tilt Renewables (+14.0%) performed strongly, following the sale of a 50% share in a competitor’s wind farm for a good price. Tilt is currently in the process of selling its Snowtown II windfarm and the recent precedent could suggest hundreds of millions of upside for shareholders.
Stride Property (-3.5%) delivered its first half result for the 2020 fiscal year and also announced the sale of three of its large format retail properties. Stride is continuing to successfully grow its capital-light and higher growth real estate management business, which is an attractive point of difference in the New Zealand listed property market.
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).
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