Legg Mason launches global infrastructure income fund

Legg Mason has launched a global infrastructure income fund for UK investors seeded with £26 million (€30.5 million) of investments. The fund is managed by Legg Mason’s Sydney-based specialist subsidiary, Rare Infrastructure, and targets income of about 5% per annum. The Legg Mason IF Rare Global Infrastructure Income fund will focus on listed infrastructure stocks in developed markets, but has a maximum 20% exposure to emerging markets. The vehicle will primarily invest in providers of ‘essential services' such as water, gas, and electricity companies, which are less sensitive to macro shocks, the firm says. It will hold 50-90% in regulated utilities, up to 45% in transport assets and up to 20% in both communications assets and companies focused on community/social infrastructure. A spokesperson for firm said the launch was driven by UK client demand for a high yielding, low volatility fund. ©2016 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.