SALT SUSTAINABLE GLOBAL LISTED INFRASTRUCTURE FUND
Salt Funds has appointed Cohen & Steers to manage the portfolio.
The Fund’s investment objective is to exceed the total return of its benchmark, the FTSE Global Core Infrastructure 50/50 Net Tax Index in New Zealand dollars on a rolling three-year basis.
The Fund utilises a balance of top-down industry sector research and bottom-up company-specific analysis to select investments in publicly traded infrastructure companies that are expected to provide the beneficial investment characteristics of private infrastructure ownership with the added features of liquidity, transparency, diversification and daily market pricing.
ESG analysis is an integral part of the investment process with distinct ESG factors relevant to each sector analysed in an effort to identify potential value and mitigate risks. Further insight is gained and positive change is driven though active engagement.
Benchmark - FTSE Global Core Infrastructure 50/50 Net Tax Index
Recommended investment time frame - 5 years
Inception date - 18 August 2021
Fund Size - $39.6 million
Ben Morton shares his insights on the path ahead for global listed infrastructure.
The views and opinions presented in this document / video are as of the date of publication and are subject to change without notice. This material represents an assessment of the market environment at a specific point in time and should not be relied upon as investment advice, does not constitute a recommendation to buy or sell a security or other investment and is not intended to predict or depict performance of any investment. This material is not being provided in a fiduciary capacity and is not intended to recommend any investment policy or investment strategy or to account for the specific objectives or circumstances of any investor. We consider the information to be accurate, but we do not represent that it is complete or should be relied upon as the sole source of appropriateness for investment. Cohen & Steers does not provide investment, tax or legal advice. Please consult with your investment, tax or legal professional regarding your individual circumstances prior to investing
Defining Listed Infrastructure
Cohen & Steers Universe
• 350 companies in 16 countries; focus list of 250
• Includes both developed and emerging markets
• Global market capitalization: $3.7 trillion
• We believe infrastructure assets provide essential public services that facilitate economic growth
• We focus on owners and operators of infrastructure assets
• We generally avoid cyclical subsectors such as engineering and construction, and oil and gas production
We screen for companies that exhibit key infrastructure characteristics
• Relatively predictable, often inflation-linked cash flows
• Largely regulated and monopolistic businesses
• High barriers to entry
Environmental, Social, Governance Factors are Key to the Strategy
Identify key ESG factors that impact shareholder value
Determine ESG scores for each company in investable universe
Integrate ESG scores into company valuation estimates
Encourage positive change