Liquid Investments


in Infrastructure

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 - 22 December 2020
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

© 2021 Salt Funds Management. 

Auckland, New Zealand.
+64 9 967 7276

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