Fund Type: | Single | Discretionary/Quantitative: | Discretionary |
Strategy: | Infrastructure | FUM (millions): | AU$9.58m |
Style: | Blend | Fund Inception Date: | Since 16 August 2017 |
Geographic Mandate: | Global | Latest Return Date: | March 2024 |
Fund Domicile: | Australia | Investor Type: | Wholesale & Retail |
Status: | Open | Reporting Status: | Pending |
Manager: | 4D Infrastructure | Total FUM for all funds: | AU$584.59m |
Manager Overview:
4D Infrastructure is a boutique asset manager investing in listed global infrastructure companies. It was established in April 2015 in partnership with Bennelong Funds Management, with principals Sarah Shaw and Greg Goodsell supported by four investment analysts.
The team has significant experience in global infrastructure, built around industry, sector, regional and company knowledge. Their varied backgrounds across sell side, buy side, portfolio management, equities research and strategy, debt, fund start-up, investment banking and consulting across both listed and unlisted infrastructure bring diverse thinking to the team's decision-making. |
Fund/Strategy Overview:
The 4D Emerging Markets Infrastructure Fund invests in listed infrastructure companies across global emerging markets. The Fund consists of a concentrated investment portfolio of 20-60 stocks and aims to identify quality listed global emerging market infrastructure securities, trading at or below fair value with sustainable, growing earnings and dividends.
The Fund's Investment Process involves four steps designed to give practical effect and application to the 4D investment objective. The four steps are summarised below: - defining the core investible universe; - macro and strategic country risk assessment; - detailed industry and fundamental company analysis, with stock valuation and quality assessed separately; and - portfolio construction and monitoring adhering to 4D's regional, sector and stock guidelines. 4D's investment process analyses and values companies on an absolute basis with portfolio construction based on a relative risk reward of the individual companies compared to its emerging market infrastructure peers. Infrastructure is defined to include regulated utilities in gas, electricity and water; transport infrastructure such as airports, ports, road and rail; as well as communication assets such as the towers and satellite sectors. |
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Other funds operated by manager: | |||
4D Global Infrastructure Fund (AUD Hedged), 4D Global Infrastructure Fund (Unhedged) |
Minimum Investment: | Minimum Additional Investment: | Minimum Term: | Investment Frequency: |
AU$25,000 | AU$5,000 | Daily | |
Regular Savings Option: | Regular Savings Min. Amount : | Regular Savings Max. Amount : | Regular Savings Freq.: |
No | N/A | ||
Redemption Notice: | Redemption Frequency: | Notes: | |
Daily |
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Distributions: | Distribution Frequency: | Last Distribution Date: | Last Distribution Amount: |
Yes | Annually | AU$ |
Offshore/Onshore: | Fund Structure: | Share Classes: | Trustee/Responsible Entity: |
Onshore | Unit Trust | AU$ | Bennelong Funds Management |
Administrator: | Prime Broker: | Custodian: | Legal: |
Citigroup | N/A | Citigroup | N/A |
Management Fee: | Performance Fee: | High Water Mark: | Hurdle: |
1.15% | 10.25% | Yes | OECD G20 Inflation Index + 8% p.a. |
Buy Spread: | Sell spread: | Early Redemption Fee: | Fees Notes: |
0.300% | 0.300% | No |
Latest Return Date: | Latest Result: | Fund Inception Date: | Annualised Return: |
March 2024 | 0.73% | 16 August 2017 | 5.00% |
Latest 3 Months: | Latest 6 Months: | Latest 12 Months: | Latest 2 Years p.a.: |
2.32% | 6.73% | 8.28% | 10.32% |
Latest 3 Years p.a.: | Latest 4 Years p.a.: | Latest 5 Years p.a.: | Latest 7 Years p.a.: |
10.34% | 9.37% | 5.05% | N/A |
% Positive Months (S.I.): | Average Return: | Average +ve Return: | Average -ve Return: |
55.00% | 0.51% | 3.29% | -2.89% |
Best Month: | Worst Month: | Up Capture Ratio (S.I.): | Down Capture Ratio (S.I.): |
13.32% | -22.16% | 77.20% | 98.74% |
Largest Drawdown (S.I.): | Longest Drawdown (S.I.): | Current Drawdown (%): | Current Drawdown (Months): |
-29.20% | 37 months | 0.00% | N/A |
Annualised Standard Deviation (S.I.): | Downside Deviation (S.I.): | Sortino Ratio (S.I.): | - |
15.29% | 11.15% | 0.31 | - |
Sharpe Ratio (12 months): | Sharpe Ratio (3 years): | Sharpe Ratio (5 years): | Sharpe Ratio (S.I.): |
0.39 | 0.70 | 0.30 | 0.30 |
Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate |
AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of 4D Emerging Markets Infrastructure Fund compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.
As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.
Historical Performance (all figures shown here are net of fees unless otherwise stated)
Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | -1.40 | 3.01 | 0.73 | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | 2.32 |
2023 | 3.76 | 0.12 | 5.65 | 3.03 | -1.02 | 4.52 | 1.45 | -4.16 | -2.10 | -5.34 | 4.81 | 5.14 | 16.16 |
2022 | 5.70 | -2.85 | 6.54 | -0.26 | 5.33 | -4.61 | -2.10 | 3.61 | -4.40 | 4.05 | 2.44 | -1.13 | 12.02 |
2021 | -4.07 | -3.93 | 7.24 | -0.85 | 4.43 | 0.76 | -1.03 | 2.57 | -3.35 | -6.15 | 3.82 | 1.16 | -0.29 |
2020 | 0.44 | -2.02 | -22.16 | -0.83 | 2.83 | -1.09 | -1.45 | -4.92 | -1.41 | -0.37 | 13.32 | 2.46 | -17.43 |
2019 | 8.36 | 0.21 | -2.44 | 2.94 | 1.54 | 2.52 | 3.67 | -1.64 | 1.60 | 1.01 | -0.04 | 4.12 | 23.63 |
2018 | -0.19 | 0.21 | -0.39 | 0.10 | -8.13 | -1.07 | 4.30 | -1.77 | 2.16 | 5.46 | -3.09 | 5.47 | 2.27 |
2017 | N/R | N/R | N/R | N/R | N/R | N/R | N/R | 0.19 | 0.11 | 1.72 | -0.31 | -1.80 | -0.13 |
Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)
Year | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | Jan % | Feb % | Mar % | Apr % | May % | Jun % | FYTD % |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2023/2024 | 1.45 | -4.16 | -2.10 | -5.34 | 4.81 | 5.14 | -1.40 | 3.01 | 0.73 | N/A | N/A | N/A | 1.59 |
2022/2023 | -2.10 | 3.61 | -4.40 | 4.05 | 2.44 | -1.13 | 3.76 | 0.12 | 5.65 | 3.03 | -1.02 | 4.52 | 19.55 |
2021/2022 | -1.03 | 2.57 | -3.35 | -6.15 | 3.82 | 1.16 | 5.70 | -2.85 | 6.54 | -0.26 | 5.33 | -4.61 | 6.01 |
2020/2021 | -1.45 | -4.92 | -1.41 | -0.37 | 13.32 | 2.46 | -4.07 | -3.93 | 7.24 | -0.85 | 4.43 | 0.76 | 10.19 |
2019/2020 | 3.67 | -1.64 | 1.60 | 1.01 | -0.04 | 4.12 | 0.44 | -2.02 | -22.16 | -0.83 | 2.83 | -1.09 | -15.85 |
2018/2019 | 4.30 | -1.77 | 2.16 | 5.46 | -3.09 | 5.47 | 8.36 | 0.21 | -2.44 | 2.94 | 1.54 | 2.52 | 28.08 |
2017/2018 | N/A | 0.19 | 0.11 | 1.72 | -0.31 | -1.80 | -0.19 | 0.21 | -0.39 | 0.10 | -8.13 | -1.07 | -9.48 |