Maple-Brown Abbott
Global Listed Infrastructure Fund

Maple-Brown Abbott Global Listed Infrastructure Fund

The Fund is actively managed and is invested in global listed infrastructure securities across regulated, contracted and concession assets that provide essential services, with a focus on sustainability and ESG factors. Generally, the securities in the portfolio have a market capitalisation greater than US$500 million.

We consider potential investments from a strictly selected infrastructure focus list of around 110 companies across more than 20 countries based on a tight definition of infrastructure. Stocks on the focus list are those the team believes provide the strongest combination of inflation protection and low volatility.

The team conducts fundamental research, including meeting with the companies and regulators and building financial models on companies. The team looks for companies that have good governance, as well as performs well on corporate sustainability matters. This bottom-up research is combined with a top-down approach to managing macroeconomic risks.

We take a high conviction approach to ensure the strongest stock views from the focus list are included in the portfolio. As a result, the portfolio is expected to have 25–35 global investments, diversified by country and sector.

Fund facts
Inception date
18/12/2012 		Distribution frequency
Quarterly
Benchmark
OECD Total Inflation Index + 5.5% p.a 		Minimum initial application
$ 20,000
APIR code
MPL0006AU 		Management fees and costs %*^
0.98
Pricing frequency & cut-off
Daily/2pm Sydney time on a Business Day 		Buy/Sell spread %^
0.15/0.15
*Management fees and costs for the Fund are made up of the management fee, indirect costs (if any) and estimated recoverable expenses.
^Additional fees and costs may also apply in relation to an investment in the Fund. For a full description of the fees and costs refer to the Product Disclosure Statement and Additional Information Booklet for the Fund.
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Portfolio Managers

A team of experienced and dedicated investment professionals.


Co-Founder and Managing Director, Global Listed Infrastructure
Co-Founder and Managing Director, Global Listed Infrastructure

Andrew Maple-Brown

BEng, BCom, MAppFin, CIM
Andrew joined Maple-Brown Abbott in 2012. Andrew is the Managing Director of Maple-Brown Abbott Global Listed Infrastructure which he started with his partners in 2012. Before joining Maple-Brown Abbott he spent eleven years working for Macquarie Group, the remaining five years of which he spent as a Portfolio Manager within their Global Listed Infrastructure team, working in Sydney and New York. Andrew has more than twenty years of experience in financing and investing in infrastructure assets and securities. In addition to being a portfolio manager for the strategy, he is also responsible for coverage of Regulated Utilities across North America. Andrew began his career at Lend Lease and was there for five years.

 

Board and committee membership:
Maple-Brown Abbott Global Listed Infrastructure Pty Limited Board
Asset Allocation Committee

Andrew

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Justin Lannen, Co-Founder and Portfolio Manager, Global Listed Infrastructure
Co-Founder and Portfolio Manager, Global Listed Infrastructure

Justin Lannen

BEng, BCom, CFA
Justin Lannen joined Maple-Brown Abbott in 2012. Justin is co-founder and portfolio manager of Maple-Brown Abbott’s Global Listed Infrastructure and is also responsible for all Regulated Utilities (ex-North America). Prior to joining Maple-Brown Abbott, Justin spent five years as Portfolio Manager at Macquarie where he managed their global listed infrastructure portfolios whilst based in New York and Sydney. Prior to this, Justin worked at Colonial First State as a portfolio manager and managed the $1.4bn industrial share fund whilst maintaining his analysis of infrastructure stocks. Justin is a toll road expert having spent the majority of his career looking at the same businesses that he does today.

 

Board and committee membership:
Maple-Brown Abbott Global Listed Infrastructure Pty Limited

Justin

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Steven Kempler | Co-Founder and Portfolio Manager, Global Listed Infrastructure
Co-Founder and Portfolio Manager, Global Listed Infrastructure

Steven Kempler

BCom, LLB, MFin, CFA
Steven joined Maple-Brown Abbott in 2012 and is co-founder and portfolio manager of global listed infrastructure. Prior to Maple-Brown Abbott, he spent six years in Macquarie’s Global Listed Infrastructure team as an investment analyst covering infrastructure and utilities in the Asia Pacific region. He was later appointed as a joint Portfolio Manager for Macquarie’s Emerging Market Listed Infrastructure strategy.  Prior to joining Macquarie, Steven worked briefly within Rothschild’s investment banking division in London, specifically on debt and mezzanine private placement transactions. Steven is an airports expert and is responsible for the coverage of the team’s airport investments around the globe, the transportation infrastructure and communication infrastructure assets.

 

Board and committee membership:
Maple-Brown Abbott Global Listed Infrastructure Pty Limited

Steven

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Andrew Duong | Portfolio Manager, Global Listed Infrastructure
Portfolio Manager, Global Listed Infrastructure

Andrew Duong

BCom, BSc, CFA
Andrew joined Maple-Brown Abbott in January 2017 as Senior Research Associate and was appointed Investment Analyst in 2019 and most recently Portfolio Manager in 2022. Andrew is responsible for covering the midstream, renewables and diversified utilities. He is also chair of the Macroeconomic Committee. Before joining Maple-Brown Abbott, Andrew spent six years at the Reserve Bank of Australia (RBA), including an 18-month secondment to the Bank of England. As a Senior Analyst in the International Financial Markets division of the RBA, he was responsible for analysing developments in international markets for the bank’s monetary policy

 

 

 

 

 

Andrew

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Fund performance^

as at 31/03/2025

^Past performance is not a reliable indicator of future performance. No warranty can be given for future performance. Returns are volatile and may fluctuate quickly and significantly. Total return is based on the movement in net asset value per unit plus distributions and is before tax and after all fees and charges. Imputation and foreign income tax offsets are not included in the performance figures. Source: Maple-Brown Abbott
*Inception date is 18 December 2012.

Unit price

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Distributions

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Forms and fund information

Forms

Application form
Additional application form
Withdrawal form
Transfer form
Change of details form
Change of name form
TFN-ABN or exemptions form

Fund information

Fund factsheet
Quarterly commentary
Product disclosure statement
Additional information booklet
Target market determination
Financial services guide
Continuous disclosure
Interim financial report
Annual financial report
Proxy voting outcomes

Fund ratings

Rating/recommendation

Lonsec Research Recommended ratings logo
Morningstar Bronze award logo
Zenith Highly Recommended ratings logo
Lonsec
The Lonsec rating issued 09/2024 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. ©2024 Lonsec. All rights reserved.

 

Morningstar Medalist Rating(TM)
Assigned as of 26/04/24
Analyst Driven %100
Data Coverage %100
Fund Maple-Brown Abbott Global Listed Infrastructure received a Morningstar Medalist Rating(TM) of ‘Bronze’ on 26/04/24
© 2024 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a financial adviser.

 

Zenith
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned MPL0006AU March 2024) 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, including target markets of financial products, where applicable, 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 Fund Research Regulatory Guidelines.