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Printed: 05 October 2022 3:39 PM

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24 Nov 2021 - Performance Report: 4D Global Infrastructure Fund
By: Australian Fund Monitors

Report Date24 November 2021
Manager4D Infrastructure, a Bennelong Boutique
Fund Name4D Global Infrastructure Fund
StrategyInfrastructure
Latest Return DateOctober 2021
Latest Return-1.43%
Latest 6 Months3.16%
Latest 12 Months17.22%
Latest 24 Months (pa)0.93%
Annualised Since Inception9.42%
Inception Date01 March 2016
FUM (millions)AU$294.57
Fund OverviewThe 4D Global Infrastructure Fund aims to outperform the OECD G7 Inflation Index +5.5% p.a. over the long term by investing in 30-60 quality listed global infrastructure securities, trading at or below fair value with sustainable, growing earnings combined with sustainable, growing dividends.

The fund is managed as a single portfolio including 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.

The portfolio is intended to have exposure to both developed and emerging market opportunities, with country risk assessed internally before any investment is considered.

The maximum absolute position of an individual stock is 7% of the fund.
Manager CommentsThe 4D Global Infrastructure Fund returned -1.43% in October. Over the past 12 months it has risen +17.22%.

The 4D Global Infrastructure Fund has a track record of 5 years and 8 months and has outperformed the S&P Global Infrastructure TR Index (AUD) since inception in March 2016, providing investors with a return of 9.42%, compared with the index's return of 7.87% over the same time period.

On a calendar basis the fund has had 1 negative annual return in the 5 years and 8 months since its inception. Its largest drawdown was -19.77% lasting 1 year and 8 months, occurring between February 2020 and October 2021 when the index fell by a maximum of -24.67%.

The Manager has delivered these returns with -0.48% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 five times and currently sits at 0.72 since inception. The fund has provided positive monthly returns 95% of the time in rising markets, and 11% of the time when the market was negative, contributing to an up capture ratio since inception of 105% and a down capture ratio of 95%.
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