|Latest Return Date|
|Latest 6 Months|
|Latest 12 Months|
|Latest 24 Months (pa)|
|Annualised Since Inception|
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.
The 4D Global Infrastructure Fund (Unhedged) has a track record of 6 years and 10 months and has outperformed the S&P Global Infrastructure TR (AUD) benchmark since inception in March 2016, providing investors with an annualised return of 8.23% compared with the benchmark's return of 8.15% over the same period.
On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 6 years and 10 months since its inception. Over the past 12 months, the fund's largest drawdown was -10.99% vs the index's -6.34%, and since inception in March 2016 the fund's largest drawdown was -19.77% vs the index's maximum drawdown over the same period of -24.67%. The fund's maximum drawdown began in February 2020 and lasted 2 years and 2 months, reaching its lowest point during September 2020. The fund had completely recovered its losses by April 2022.
The Manager has delivered these returns with 0.28% less volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 five times over the past five years and which currently sits at 0.63 since inception. The fund has provided positive monthly returns 94% of the time in rising markets and 13% of the time during periods of market decline, contributing to an up-capture ratio since inception of 98% and a down-capture ratio of 98%.