Fact sheet: Legg Mason IFRAREGlInfInc

Fund information
Fund name
Legg Mason IF RARE Global Infrastructure Income X Hedged Acc
Fund manager company
Legg Mason Funds ICVC
Fund type
OEIC
Fund managers
  • Richard Elmsliesince 01/07/2016
  • David Maywaldsince 01/07/2016
  • Nick Langleysince 01/07/2016
  • Shane Hurstsince 01/07/2016
Fund objective
The Fund seeks to provide investors with an income comprised of dividends with a secondary investment objective of long term capital growth, by investing in a diverse range of global listed infrastructure securities across a number of infrastructure sub-sectors such as gas, electricity and water utilities, toll-roads, airports, rail and communication infrastructure and across different geographic regions.
Benchmark
  • OECD G7 CPI +5.5%
Investment style
Concentrated
Investment method
Shares
Quick stats
1 Year return
-
1 Year rank in sector
-
Sector
UT Global Equity Income
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.04%
Fund size
£291m (£26m last year)
Mid price
108.6
Top in this sector
Fund name1 Year
TB Saracen Gbl Inc & Gth38.9%
Aptus Global Financials36.8%
Schroder Global Equity Income35.8%
Scot Wid Fdmtl Index Global Equ35.3%
Legg Mason IFClBrGlEqInc35%
...more in UT Global Equity Income

Performance snapshot

Holdings snapshot

  • Australia17%
    USA15.8%
    France11.2%
    Spain9.4%
    Canada7.6%
  • Electricity Supply45.6%
    Oil & Gas26.3%
    Infrastructure9.1%
    Communications8.2%
    Water7.5%
  • Australian Equities17%
    US Equities15.8%
    French Equities11.2%
    Spanish Equities9.4%
    Canadian Equities7.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund3.8%8.6%17.6%---
Sector3.1%2%9.1%27.8%39.6%92.4%
Rank within sector10 / 452 / 442 / 44---
Quartile1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund12.2%----
Sector5.4%23.1%2.7%6.8%21.8%
Rank within sector2 / 44----
Quartile1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
-
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
-
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
-
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
-
Price movement
52 week high108.3
52 week low89.06
Current bid price-
Current offer price-
Current mid price108.6
Region
1Australia17.02%
2USA15.78%
3France11.21%
4Spain9.44%
5Canada7.63%
6UK7.51%
7Brazil7.45%
8Italy6.26%
9Money Market5.29%
Industry sector
1Electricity Supply45.57%
2Oil & Gas26.28%
3Infrastructure9.06%
4Communications8.23%
5Water7.52%
6Cash & Cash Equivalents3.34%
Asset type
1Australian Equities17.02%
2US Equities15.78%
3French Equities11.21%
4Spanish Equities9.44%
5Canadian Equities7.63%
6UK Equities7.51%
7Brazilian Equities7.45%
8Italian Equities6.26%
9Money Market5.29%
Individual holdings
1IBERDROLA SA5.01%
2SPARK INFRASTRUCTURE GROUP4.97%
3APA GROUP4.89%
4ATLANTIA SPA4.74%
5ENBRIDGE INC3.98%
6SES SA3.78%
7INFRAESTRUCTURA ENERGETICA NOVA SAB3.77%
8AUSNET SERVICES3.75%
9VERESEN INC3.69%
Management
Fund manager group
Legg Mason
Fund manager company
Legg Mason Funds ICVC
Fund type
OEIC
Fund objective
The Fund seeks to provide investors with an income comprised of dividends with a secondary investment objective of long term capital growth, by investing in a diverse range of global listed infrastructure securities across a number of infrastructure sub-sectors such as gas, electricity and water utilities, toll-roads, airports, rail and communication infrastructure and across different geographic regions.
Benchmark
  • OECD G7 CPI +5.5%
Investment style
Concentrated
Investment method
Shares
Fund managers
NameSinceBiography
Richard Elmslie01/07/2016Richard Elmslie is a founder, Co-Chief Executive Officer and Co-Chief Investment Officer of RARE Infrastructure. As a Senior Portfolio Manager, Richard is involved in assessing and critiquing research on all strategies and ensuring the smooth operation of the firm. Prior to founding RARE in 2006, Richard spent 19 years in the global infrastructure sector, including five years as Head of Power and Joint Head of Infrastructure at UBS Investment Bank. Highlights of Richard’s career include being part of the advisory team on the privatisation of the UK / Scottish and New Zealand Telecom, as well as team leader on the privatisation of major Australian airports in Sydney, Melbourne and Brisbane. Richard holds a Bachelor of Commerce from the University of New South Wales, is a member of the Institute of Chartered Accountants and is a Fellow of FINSIA.
David Maywald01/07/2016David is a Senior Investment Analyst and Portfolio Manager for the Yield Strategy. He has responsibility for researching regulated utilities across Europe, UK and Australia. This includes building relationships with listed infrastructure stocks, regulators, suppliers, bankers, brokers, consultants, clients and research houses. Prior to joining RARE in 2006, David was a member of the Investment Committee at Constellation Capital Management, where he analysed the Utility, Infrastructure, Transport, Telecom, Media, Commercial Services, Energy, Gaming and Information Technology sectors. David has also held Investment Analyst roles at Credit Suisse, JP Morgan and BT Funds Management. David holds Bachelor degrees in Commerce (Honours) and Economics from the Australian National University, and a Graduate Diploma in Applied Finance and Investment from FINSIA. David is a CFA Charterholder and member of the CFA Society of Sydney.
Nick Langley01/07/2016Nick Langley is a founder, Co-Chief Executive Officer and Co-Chief Investment Officer of RARE Infrastructure. As a Senior Portfolio Manager, Nick is involved in assessing and critiquing research on all strategies and ensuring the smooth operation of the firm. Prior to founding RARE in 2006, Nick spent 11 years in the infrastructure sector including four years as a Principal of AMP Capital’s Infrastructure Funds Management team, where he was also the CFO of DUET, an ASX-listed investment trust with AUD 5 billion in electricity and gas assets. Nick also spent two years with UBS in New York and, prior to that, worked with ABN AMRO in Sydney to provide advice across various infrastructure sectors such as communications, multi-utilities and transport. Nick holds a Bachelor of Laws and a Bachelor of Commerce from the University of Auckland.
Shane Hurst01/07/2016As Senior Investment Analyst and Portfolio Manager for the Value and Yield Strategies, Shane has investment analysis and portfolio management responsibilities for the RARE Value and Yield Strategies, as well as research responsibility for North American securities. Prior to joining RARE in 2010, Shane was Director, Infrastructure Securities at Hastings Funds Management, where he created the Hastings Global Infrastructure Securities Fund. Shane’s role included recruiting and managing the Infrastructure Securities investment team, and developing its investment process and portfolio construction framework. Shane has also held portfolio management and investment analyst roles at Tribeca Investment Partners and AMP Capital Investors. Shane has a Bachelor of Business from the University of Technology and a Masters of Commerce (Advanced Finance) from the University of New South Wales.
Compliance
IA Recognised, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Greece
Legg Mason IF RARE Global Infrastructure Income A Acc
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.24%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price113.6
CurrencyGBX
Price updated23/05/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNAIJ
Legg Mason IF RARE Global Infrastructure Income A Hedged
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.34%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyGBX
Price updated01/01/1900
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNCYW
Legg Mason IF RARE Global Infrastructure Income A Inc
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.24%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price111.5
CurrencyGBX
Price updated23/05/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNAIK
Legg Mason IF RARE Global Infrastructure Income S Acc GBP
Initial charge-
Annual charge0.4%
Min single investment£50,000,000
Min regular saving£10,000,000
Available in ISANo
Ongoing charge (OCF)0.54%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price114.2
CurrencyGBX
Price updated23/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNA2K
Legg Mason IF RARE Global Infrastructure Income S Hedged Acc
Initial charge-
Annual charge0.4%
Min single investment£50,000,000
Min regular saving£10,000,000
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price107.9
CurrencyGBX
Price updated23/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNCRC
Legg Mason IF RARE Global Infrastructure Income S Hedged Inc
Initial charge-
Annual charge0.4%
Min single investment£50,000,000
Min regular saving£10,000,000
Available in ISANo
Ongoing charge (OCF)0.64%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price106.4
CurrencyGBX
Price updated23/05/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNCRD
Legg Mason IF RARE Global Infrastructure Income S Inc GBP
Initial charge-
Annual charge0.4%
Min single investment£50,000,000
Min regular saving£10,000,000
Available in ISANo
Ongoing charge (OCF)0.54%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price112.1
CurrencyGBX
Price updated23/05/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNA2L
Legg Mason IF RARE Global Infrastructure Income X Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£3,000,000
Min regular saving£1,000,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price113.8
CurrencyGBX
Price updated23/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN9TX
Legg Mason IF RARE Global Infrastructure Income X Hedged Acc
Initial charge-
Annual charge0.75%
Min single investment£3,000
Min regular saving£1,000,000
Available in ISANo
Ongoing charge (OCF)1.04%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price108.6
CurrencyGBX
Price updated23/05/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeNCRA
Legg Mason IF RARE Global Infrastructure Income X Hedged Inc
Initial charge-
Annual charge0.75%
Min single investment£3,000
Min regular saving£1,000,000
Available in ISANo
Ongoing charge (OCF)1.04%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price107.5
CurrencyGBX
Price updated23/05/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNCRB
Legg Mason IF RARE Global Infrastructure Income X Inc GBP
Initial charge-
Annual charge0.75%
Min single investment£3,000,000
Min regular saving£1,000,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price111.6
CurrencyGBX
Price updated23/05/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN9TY
Data provided by

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