DRAFT
Fund Review
4D Emerging Markets Infrastructure Fund
Performance as at Oct 2024
4D Infrastructure is a boutique asset manager investing in listed global infrastructure companies, established in Apr 2015 in partnership with Bennelong Funds Management. Principals Sarah Shaw and Greg Goodsell are backed by four investment analysts. The team leverages extensive experience in global infrastructure, incorporating sell side, buy side, and portfolio management expertise. Key staff includes Principal, CEO/CIO, and Global Portfolio Manager Sarah Shaw, Portfolio Manager Peter Aquilina, Senior Investment Analyst Christopher James, and Investment Director Tim Snelgrove.
| 1 Year | 3 Years3 | 5 Years3 | 7 Years3 | Inception3,4 | ||
| Total Return | Fund | 10.36% | 11.02% | 2.23% | 4.13% | 4.28% |
| Peer Group1 | 18.96% | 7.28% | 5.26% | 7.03% | 7.29% | |
| Index2 | 28.60% | 12.82% | 7.31% | 8.50% | 8.97% | |
| Volatility | Fund | 9.38% | 11.61% | 16.29% | 15.10% | 14.84% |
| Peer Group1 | 8.62% | 10.44% | 11.74% | 10.61% | 10.46% | |
| Index2 | 8.45% | 9.90% | 13.43% | 12.34% | 12.18% | |
| 1Infrastructure, 2S&P Global Infrastructure TR Index (AUD), 3Annualised, 4Aug 2017 | ||||||
Strategy Description
The 4D Emerging Markets Infrastructure Fund invests in listed infrastructure companies in emerging markets. It holds 20-60 stocks, focusing on quality securities with sustainable earnings and dividends at fair value. The investment process involves defining the investible universe, assessing macro and strategic country risk, performing industry and company analysis including stock valuation, and constructing and monitoring the portfolio according to regional, sector, and stock guidelines. Companies are analysed on an absolute basis, with portfolio decisions based on relative risk-reward compared to peers. Investments include regulated utilities and infrastructure in transport and communication sectors.Cumulative Performance
Core Details |
PG = Peergroup Average | ||
| APIR: | BFL7394AU | Status: | Closed |
| Peer Group: | Infrastructure | Inception Date: | Aug 2017 |
| Strategy: | Infrastructure | Style: | Blend |
| Geography: | Global | Domicile: | Australia |
| Investors: | Retail | Distributions: | Annually |
| Fund Size: | AU$ 6.24m | Manager FUM: | AU$ 792.94m |
| Applications: | Daily, Initial: AU$ 25,000 | Redemptions: | Daily |
| Management Fee: | 1.15% (PG avg: 0.85%) | Performance Fee: | 10.25% (PG avg: 8.22%) |
| Buy/Sell Spread: | 0.3%/0.3% (PG avg: 5.13%/0.12%) | Hurdle: | OECD G20 Inflation Index + 8% p.a. |
| Early Redemption Fee | No | High Water Mark: | Yes |
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4D Emerging Markets Infrastructure Fund
Performance vs Infrastructure and S&P Global Infrastructure TR Index (AUD)
Since Aug 2017, the Fund has returned 4.28% p.a. vs the Peer Group's return over the same period of 7.29%. Over the past 12 months, the Fund has returned 10.36% vs the Peer Group's 18.96%. For the 3, 5 and 7 year periods, the Fund has returned 11.02%, 2.23% and 4.13% respectively vs the Peer Group's returns of 7.28%, 5.26% and 7.03% p.a. respectively. The Fund's returns have been delivered with a volatility of 14.84% p.a. vs the Peer Group's 10.46%.
Only seven years of data shown. Click here to view all data.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -1.40 | 3.01 | 0.73 | 0.20 | -1.32 | -3.75 | 2.63 | -2.73 | 2.22 | 0.77 | NA | NA | 0.14 |
| 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 | NA | NA | NA | NA | NA | NA | NA | 0.19 | 0.11 | 1.72 | -0.31 | -1.80 | -0.13 |
| 1 Year | 3 Years | 5 Years | 7 Years | Inception | ||
| Total Return | Fund | 10.36% | 11.02% | 2.23% | 4.13% | 4.28% |
| Peer Group | 18.96% | 7.28% | 5.26% | 7.03% | 7.29% | |
| Index2 | 28.60% | 12.82% | 7.31% | 8.50% | 8.97% | |
| Volatility | Fund | 9.38% | 11.61% | 16.29% | 15.10% | 14.84% |
| Peer Group | 8.62% | 10.44% | 11.74% | 10.61% | 10.46% | |
| Index | 8.45% | 9.90% | 13.43% | 12.34% | 12.18% | |
| Sharpe | Fund | 0.65 | 0.71 | 0.11 | 0.23 | 0.25 |
| Peer Group | 1.58 | 0.45 | 0.34 | 0.53 | 0.56 | |
| Index | 2.55 | 0.98 | 0.46 | 0.59 | 0.63 | |
| Sortino | Fund | 0.99 | 1.08 | 0.03 | 0.21 | 0.23 |
| Peer Group | 3.56 | 0.59 | 0.39 | 0.69 | 0.74 | |
| Index | 5.97 | 1.47 | 0.51 | 0.71 | 0.77 | |
| Largest Drawdown | Fund | -5.18% | -11.19% | -29.20% | -29.20% | -29.20% |
| Peer Group | -2.57% | -9.54% | -17.26% | -17.26% | -17.26% | |
| Index | -3.19% | -8.36% | -24.67% | -24.67% | -24.67% |
Return in Index's 10 Best & 10 Worst Months %
Return in Index's 10 Best & 10 Worst Months %
Annualised Return vs Standard Deviation
4D Emerging Markets Infrastructure Fund - Annualised Return vs. Standard Deviation
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4D Emerging Markets Infrastructure Fund
Annual Returns
Annual Returns %
Drawdown
Drawdown%
Service Providers
| Trustee/RE: | Bennelong Funds Management |
| Custodian: | Citigroup |
| Administrator: | Citigroup |
| Auditor: | Deloitte |
| Legal: | N/A |
| Prime Broker: | N/A |
Available on Investment Platforms
North, BT Panorama, Colonial FirstWrap, HUB24, Macquarie Wrap, Mason Stevens, Netwealth
Key Staff
About AFM's Fund Reviews and Star Ratings
AFM's proprietary Star Rating system provides a quantitative ranking of performance and risk of funds in its peer group relative to similar funds. Funds must have a minimum 1 year track record.
Star Ratings for Performance reflects annualised return. Risk is a combination of downside deviation, maximum drawdown and longest drawdown, which are allocated in reverse.
| AFM Star Rating | Relative performance band compared to funds in the same Peer Group |
|---|---|
| ★ ★ ★ ★ ★ | Premium: The fund is in the top 10% of all funds in its peer group. |
| ★ ★ ★ ★ ☆ | Top Quartile: The fund ranges between 75 and 90% of all funds in its peer group. |
| ★ ★ ★ ☆ ☆ | Second Quartile: The fund ranges between 50 and 75% of all funds in its peer group. |
| ★ ★ ☆ ☆ ☆ | Third Quartile: The fund ranges between 25 and 50% of all funds in its peer group. |
| ★ ☆ ☆ ☆ ☆ | Fourth Quartile: The fund is in the lowest 25% of all funds in its peer group. |
All performances, rankings and Star Ratings are updated monthly. Past performance does not guarantee future performance.
Copyright
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Disclaimer
The information in this report, including financial returns, strategies, and other content (collectively referred to as "Content") has been prepared and issued by Australian Fund Monitors Pty Limited (A.C.N. 122 226 724, AFSL 324476) otherwise referred to as AFM. The information and content herein is designed for holders of an Australian Financial Services Licence or for Wholesale or Sophisticated investors, and does not constitute personal financial advice, and is for general information purposes only. Users of this report or any Content of AFM's websites (the "Websites") should not act or make any financial decision without first seeking professional advice. Whilst the Content has been prepared with all reasonable care from sources which we believe are reliable, no responsibility or liability is accepted by AFM for any errors or omissions or misstatements contained herein.