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Property & Infrastructure Fund

PROPERTY &
INFRASTRUCTURE FUND

A global investment choice

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$2.9081
as at 22/05/19
13.0%
as at 30/04/2019
after fees and before tax
23.6%
as at 30/04/2019
after fees and before tax
If you had invested $10,000 at
inception, today it would be worth ...
$35,661
inception date 5/12/2008
Minimum
investment
$2,000

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, power companies, 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.

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

View all resources for this fund »

Biggest contributors/detractors

as at 30 April 2019

Union Pacific Corporation »

6% Share Price Change 0.5% Contribution to Return

Norfolk Southern »

9% Share Price Change 0.4% Contribution to Return

Charter Hall Education Trust »

7% Share Price Change 0.4% Contribution to Return

Sector Split

as at 30 April 2019

Sector Split

Biggest holdings

as at 30 April 2019

Crown Castle International Corp 6.2%
American Tower Corporation 6.1%
Union Pacific Corporation 5.6%
Cash 13.7%
Top 10 holdings 60.4%

Your portfolio team

Sam  Dickie

Sam Dickie »

Senior Portfolio Manager

Zoie Regan

Zoie Regan »

Senior Investment Analyst

Matt Peek

Matt Peek »

Investment Analyst


Highlights and lowlights — April 2019

Your portfolios: Highlights and lowlights

Global infrastructure sharemarkets underperformed global sharemarkets for the month, and were up 1.2% versus global equities, which were up 3.5%. This was unsurprising given the stabilisation and slight sell-off in global bonds. The Property and Infrastructure fund outperformed the market with a return of 1.4% for the month.

In portfolio news, railroad company Norfolk Southern (+9%) reported a strong first quarter 2019 result. In terms of progress against its 'TOP 21' plan to implement Precision Scheduled Railroading, core performance metrics showed significant improvement with higher train speed and lower terminal dwell, plus 5 other key productivity metrics all showed varying degrees of progress towards the 2021 goals. We continue to like the long runway for strong growth given the relatively high cost profile versus other railroads and early traction so far.

Port of Tauranga (+9%) delivered strong share price performance during a month where the Ministry of Transport released its interim report on Upper North Island Supply Chain Strategy. The report contained no clear conclusions, but there continues to be interest in shifting Ports of Auckland operations to Northport. Regardless of the ultimate outcome here, Port of Tauranga is well placed. Two further reports are due later in 2019.


Portfolio holdings

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 »


Fund resources

Fisher Funds Property & Infrastructure Fund Updates

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