Sustainable Listed Infrastructure Fund overview
This Fund consists of a high conviction portfolio of global listed infrastructure stocks. It builds on the investment team’s best-in-class stock selection with an enhanced focus on sustainability, including tailored portfolio construction and active engagement on environmental, social and governance issues.
The Fund’s investment philosophy places an emphasis on investing in quality companies over the long term, seeking those with high barriers to entry, strong pricing power, sustainable growth and predictable cash flows. Its investable universe includes utilities, toll roads, passenger and freight rail, ports, airports, energy pipelines and storage facilities, mobile towers and satellites.
The Fund builds on First State’s investment expertise in listed and unlisted infrastructure including a track record of over 10 years within the global listed infrastructure asset class, as well as complementing First State’s wider commitment to responsible investment across its fund range. It is managed from Sydney by Portfolio Manager Rebecca Sherlock.
Our corporate RI strategy is based upon three strategic pillars of quality, stewardship and engagement.
ESG issues are fundamental to infrastructure companies, given they have significant service obligations and moral accountability to the communities in which they operate.
ESG analysis is integrated into our investment process through our quality assessment and ranking model. This model consists of 25 criteria that influence stock returns in general and infrastructure securities in particular. A score is assigned to each criterion; a lower quality score makes it harder for a stock to be included within the overall portfolio. ESG criteria account for 20% of the overall quality score. Learn more about the team's approach to Responsible Investment.
Led by Peter Meany, we consist of nine infrastructure specialists based in Sydney with an average of 15 years of experience.
Our industry experience is enhanced by over 500 company visits each year. We meet with company management, competitors, suppliers, customers, regulators, government officials and industry bodies. The information and insights gleaned from these meetings are our most important sources of idea generation and risk management.