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Searching for a blend of income and capital growth?
Unlisted infrastructure is generally hard for investors to access due to the large capital outlay required. The AMP Capital Core Infrastructure Fund removes this barrier by offering investors access to high-quality unlisted infrastructure assets usually only available to large institutional investors. The Fund takes an integrated approach to building a strategically blended portfolio of unlisted infrastructure assets and listed infrastructure securities in Australia and around the globe offering investors a total return of income and capital growth.
“We look for companies that can deliver predictable cash-flows through any economic cycle.”John Julian, Portfolio Manager
Assets such as Melbourne Airport (Aust), Angel Trains (UK) and Powerco (NZ) are among the largest and most significant infrastructure assets in their sectors and respective countries.
The essential services nature of infrastructure assets means earnings are generally less volatile than equities.
Investment returns from infrastructure generally have a low correlation to other mainstream assets such as equities and bonds, delivering a less volatile return.
Examples of assets held in the fund
Access our insights
The Case for Investing in Infrastructure
Learn more about the role infrastructure plays in an investment portfolio, including the benefits and risks of investing, and how it compares to other asset classes.
How does this fund fit into your portfolio?
The Fund is designed for investors seeking an investment which provides the potential for sustainable income and capital growth over the long term. It can be used to complement existing solutions in a blended portfolio.
Description of target market for this fund
This product is likely to be appropriate for a consumer seeking capital growth and regular income to be used as a small allocation within a portfolio where the consumer has a medium to long investment timeframe and a high risk/return profile. The fund provides daily access to capital.
We aim to process withdrawals within 10 business days. However, due to the liquidity characteristics of the Fund's unlisted infrastructure assets, we may take up to 365 days or longer to pay withdrawal requests, as allowed under the Fund's constitution.
The Fund may be suitable for a consumer with a higher risk profile who can accept higher potential losses (eg has the ability to bear up to 6 negative returns over a 20-year period (SRM 6)) in order to target a higher return.
What are the risks?
All investments involve risk and you should consider investment risks before making an investment decision. The key risks of investing in the Fund include or are associated with:
- Liquidity – potential significant delays in pricing and processing withdrawals, and the possible suspension of withdrawals if the Fund ceases to be liquid
- Share market investments – the value of the Fund’s listed securities may decrease as a result of adverse share market movements
- International investments – risks include exchange rate loss and the risk that political or economic climates may change without notice, and
- Gearing – losses as well as returns may be magnified through the use of gearing.
Risks of investing specific to the Fund may also include or be associated with currency exchange rates, deal flow, infrastructure investments, infrastructure and utility market regulation, co-ownership, and derivatives.
The ‘Risks of investing’ section of the Product Disclosure Statement for this Fund provides further information about the risks noted above, as well as information about other investment risks of which you should be aware.
|Investment objective||To provide total returns (income and capital growth) after costs and before tax, above the Fund's performance benchmark.The benchmark for the Fund is the 10 year Australian Government Bond Yield plus 3.25%pa.|
|Minimum suggested timeframe||5 years|
|Product inception date||30 Oct 2007|
|Risk level (1-7)||6. High|
The Fund's risk level is based on the estimated number of negative annual returns for the Fund over any 20 year period and is not a complete assessment of the risks of investing in the Fund. For instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the Fund, you should read the Fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment time frame. Information about the methodology used for calculating the risk level is available here.
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Important note: The unit prices displayed in this section are indicative only
If unit prices are not available for today then the latest available prices will be displayed. Unit prices are not calculated on weekends or public holidays.
Our unit price discretion policy states where we may exercise certain discretions in determining the unit price of units on application or withdrawal in each investment option. View and download our Unit Pricing Discretions Policy for the types of discretions that we may exercise, in what circumstances, our policies on how we exercise the discretions and the reasons why we consider our policies are reasonable.
Unit prices are provided for your information only and are not guaranteed. They are based on historical data and you should not rely on the above information as the basis for making any investment, financial or other decision as past unit prices are not a reliable indicator of future unit prices.
During the time it takes to process an application or redemption application, the unit price may vary and the actual unit prices applying to applications and redemptions may differ from those displayed in this section. Actual unit prices can be confirmed on receipt of a completed application or redemption form.
None of AMP Capital Funds Management Limited (ABN 15 159 557 72, AFSL 426455), AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497), National Mutual Funds Management Limited (ABN 32 006 787 720, AFSL 234652), or any company within the AMP Group makes any representation or warranty as to the reliability, completeness or accuracy of the unit price information or accepts any responsibility arising in any way (including by reason of negligence) for errors in or omissions from the unit price information.
The information in this section is not an offer or recommendation of securities or other financial products offered by the AMP Group and is not an invitation to take up securities or other financial products. Investors should consider the relevant PDS available from us for the relevant fund before making any decision regarding the product.
Important notes: Past performance
Past performance is not a reliable indicator of future performance.
Performance is annualised for periods greater than one year. Total returns are calculated using the unit price which uses the net asset values for the relevant month end. This price may differ from the actual unit price for an investor applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction by an investor. Returns quoted are before tax, after fees and costs, and assume all distributions are reinvested.
AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (AMPCFM) is the responsible entity of the AMP Capital Core Infrastructure Fund ("the Fund") and the issuer of the units in the Fund. To invest in the Fund, investors will need to obtain the current Product Disclosure Statement (PDS) from AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232 497) (AMP Capital). The PDS contains important information about investing in the Fund and it is important that investors read the PDS before making a decision about whether to acquire, or continue to hold or dispose of units in the Fund. Neither AMP Capital, AMPCFM nor any other company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this information. Past performance is not a reliable indicator of future performance. While every care has been taken in the preparation of this information, AMP Capital makes no representation or warranty as to the accuracy or completeness of any statement in it including without limitation, any forecasts. This content has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of this information, and seek professional advice, having regard to their objectives, financial situation and needs. This content is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest. A target market determination has been made in respect of the Fund and is available at www.ampcapital.com/tmd.
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (March 2020) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines.