ANZ adds global infrastructure fund to OneAnswer
Saturday, October 30th 2021, 6:07PM
The OneAnswer International Listed Infrastructure Fund gives investors access to an actively managed portfolio of international listed infrastructure companies.
The fund invests into an underlying fund managed by ANZ Investments, with Sydney-based fund manager Maple-Brown Abbott Limited appointed to manage the strategy.
“Maple-Brown Abbott was appointed in 2019 to manage international listed infrastructure for ANZ Investments’ multi-asset-class KiwiSaver and investment funds. The creation of this retail fund is a natural next step for us, offering external advisers this asset class within a well-priced, tax-efficient PIE,” CIO Paul Huxford said.
Maple-Brown Abbott manages more than US$8 billion in assets.
It has a disciplined and well-articulated investment process, with a strict definition of what constitutes high-quality infrastructure. This results in a high-conviction, low-turnover portfolio of around 25-35 stocks, with risks spread across sectors and geographic regions.
Huxford said infrastructure had a low correlation to other asset classes, such as bonds, and responded differently to changes in the economic backdrop when compared to international equities and international listed property.
“Infrastructure companies tend to be ‘essential services’, so they can provide a more defensive equity-like investment with lower volatility.” he said.
“What’s more, they can offer inflation protection, as these companies often have concession agreements with governments, or inflation-linked contracts, which gives them the ability to raise their prices in line with inflation.”
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