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Property & Infrastructure Fund

PROPERTY &
INFRASTRUCTURE FUND

A global investment choice

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12.3%
as at 30/09/2021
after fees and before tax
21.2%
as at 30/09/2021
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$44,367
inception date 5/12/2008
$3.6511
as at 22/10/2021
Minimum
investment
$100 per month

About the Fund

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, industrial buildings and power companies. This fund is invested in a handpicked portfolio of high quality companies.

Why Property & Infrastructure

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.

 

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Growth of $10,000 invested in the fund since inception

* 65% S&P Global Infrastructure Net TR 70% hedged into NZD, 20% S&P/NZX All Real Estate (Including imputation credits) and 15% S&P/ASX 200 A-REIT 70% hedged into NZD


Significant holdings

as at 30 September 2021

Infratil Limited 8.3%
Union Pacific Corporation 6.9%
American Tower Corporation 6.5%
Cash 2.7%

Biggest contributors/detractors

as at 30 September 2021

Crown Castle International Corp

-10% Share Price Change -0.5% Contribution to Return

Union Pacific Corporation »

-10% Share Price Change -0.5% Contribution to Return

Infratil Limited »

6% Share Price Change 0.5% Contribution to Return

Sector Split

as at 30 September 2021

Sector Split

Portfolio holdings

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).

view portfolio holdings »

 

Highlights and lowlights — September 2021

Your portfolios: Highlights and lowlights

 

The Property and Infrastructure Fund was down -1.5% for the month. US railroads Union Pacific (-10%) and Norfolk Southern (-6%) underperformed as weekly volume growth decelerated, particularly in the automotive and intermodal (container shipping) categories. The slowdown is due to greater impacts from supply chain congestion which will be resolved with time. The pricing environment is becoming favourable, with increasing truck rates starting to filter through to railroad customers. We added to our positions.

Our largest position Infratil (+6%) announced the launch of Gurin Energy, its fourth renewable energy platform and first in Asia, based on a team of people with a track record of success in South East Asia. This again demonstrates Infratil’s ability to grow and create value beyond the assets in its existing portfolio.


Fund resources

Fisher Funds Property & Infrastructure Fund Updates

Your portfolio team

Sam  Dickie

Sam Dickie »

Senior Portfolio Manager

Matt Peek

Matt Peek »

Investment Analyst


OUR MANAGED FUNDS

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