Resolution Capital Global Listed Infrastructure Fund
The Fund gives investors access to a professionally managed portfolio of select global listed infrastructure securities.
The Resolution Capital Global Listed Infrastructure Fund invests primarily in infrastructure securities that are listed, or soon to be listed, on stock exchanges around the world and will also have some exposure to cash (maximum 15%).
Resolution Capital believes that optimum risk-adjusted returns can be achieved through a concentrated portfolio of between 20 to 40 global listed infrastructure securities. Securities in which the Fund invests are diversified across a range of infrastructure sectors which may include, water and electricity utilities, renewables, airports, toll roads, ports, railroads and telecommunications infrastructure; and across geographic regions, focusing on investments in the developed markets of North America, the U.K, Europe and Asia Pacific.
The investment objective for the Global Infrastructure Fund is to exceed the total return of the Benchmark after fees on a rolling 3 year basis. In doing so, the Fund aims to provide Investors with a level of distributable income combined with the potential for long term capital growth sourced from global infrastructure based revenue streams.
Resolution Capital adopts a “multi-portfolio manager” approach to portfolio construction for the Fund. The Fund’s portfolio comprises separate individual portfolios, with each Resolution Capital portfolio manager constructing their own global portfolio.
The Fund represents the consolidation of these portfolios. Currently there are three portfolio managers, but this can change from time to time.
It is inevitable, and intentional, that there is significant overlap in the stocks chosen by each portfolio manager, illustrating which stocks have the strongest investment prospects.
This investment decision-making process has numerous benefits. Firstly, since each portfolio manager invests across sectors and regions, it encourages cross-debate whilst drawing upon each team member’s individual strengths. Secondly, it forces portfolio managers to test and challenge each other’s convictions.
Thirdly, it gives portfolio managers a greater ability to translate their ideas into actual investment decisions while also enhancing accountability and providing a career path for analysts.
Importantly, the “multi-portfolio manager” approach also significantly mitigates key person risk, as each portfolio manager has a demonstrated track record of managing the portfolio. Resolution Capital strongly believes that this approach will lead to superior and more consistent, investment returns over the long term.
While there are no pre-determined geographic or sector allocation limits, in order to maintain diversification the Fund will generally have an exposure to no greater than 70% of its assets in any one country or sector. Whilst the Fund will have no limit to the number of investments in its portfolio, it will generally hold between 20 and 40 stocks.
The Fund will maintain a cash weighting between 0%-15%, and no individual position weight will be greater than 10%. The Fund may also invest up to 15% of its assets in emerging markets.
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The Resolution Capital Global Listed Infrastructure Fund received a ‘Recommended’ rating from and Lonsec (as of May 2024).
All content in respect of the Resolution Capital Global Listed Infrastructure Fund (ARSN 653 043 442) (the Fund) is issued by Pinnacle Fund Services Limited ABN 29 082 494 362 AFSL 238 371 (“PFSL”) as responsible entity of the Fund and is prepared by Resolution Capital Limited (ABN 50 108 584 167) (AFSL 274491) as the investment manager of the Trust. PFSL is not licensed to provide financial product advice.
The information provided is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Fund, you should consider the current product disclosure statement (PDS) and Target Market Determination (‘TMD’) of the Fund and the Fund’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au/, and assess whether the Fund is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.
Neither PFSL nor Resolution Capital guarantees repayment of capital or any particular rate of return from the Fund. Neither PFSL nor Resolution Capital gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this listing. All opinions and estimates included constitute judgments of Resolution Capital as at the date of listing creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.
Resolution Capital is a specialist global listed real assets investment manager with a successful long-term investment track record and ardent culture of fiduciary responsibility. The firm was established in 2004 and is headquartered in Sydney, Australia and maintains an office in New York.
Resolution Capital aims to provide clients exposure to the underlying returns of some of the world’s highest quality real estate and infrastructure assets in a simple, transparent, liquid and tax efficient form.
Resolution Capital is a fundamental orientated investment manager with the objective of delivering superior risk adjusted long term returns, compared with recognised industry benchmarks. This is achieved through investment in a concentrated portfolio of carefully selected listed real estate and infrastructure securities with an emphasis on avoiding fundamental flaws, which could reasonably result in permanent impairment of the underlying investments. This aligns our investment process and security selection with clients’ objectives of long term real wealth creation and avoids the culture of index hugging.
Andrew is one of the founding members of Resolution Capital. Andrew has over 30 years experience in global financial and property markets.
Prior to founding Resolution Capital Andrew worked for the Australian Stock Exchange, CS First Boston and Lend Lease, and is a past Chairman of the Property Council of Australia’s Capital Markets Committee.
Andrew is also a Fellow of the Australian Property Institute, and a Fellow of the Royal Institute of Chartered Surveyors.
Sonia joined Resolution Capital in 2012 and has over 26 years of experience in global real estate investment and funds management. Sonia has managed opportunistic global real estate funds with Australian, European, US and Asian-based investments and capital transaction responsibilities in the Benelux/CEE markets.
In addition, she has had direct experience in fund establishment, structuring documentation and capital raising. Sonia has previously worked as a Fund Manager at Babcock & Brown, MGPA in London, and held portfolio management roles with Lend Lease in New York and Sydney.
Marco is one of the founding members of Resolution Capital and has over 30 years experience in global financial and property markets.
Marco has previously worked as a Senior Valuer at Jones Lang LaSalle and as a Consultant in JLL’s Advisory business where he was involved in valuing and advising institutional clients in regards to commercial real estate portfolios.
He also worked as an Equities Research Analyst at BBY, and a Capital Transactions executive at Lend Lease. While at Lend Lease, Marco worked on real estate projects in Japan and Singapore.
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