The Magellan Infrastructure Fund has been issued a “4 IP” rating by Research IP, with a score of 4.17/5.
The Magellan Infrastructure Fund has been designed to provide investors with efficient access to the infrastructure asset class, while protecting capital in adverse markets. The Fund primarily invests in the securities of companies listed on stock exchanges around the world, but will also have some exposure to cash & cash equivalents. The Fund can use foreign exchange contracts to facilitate settlement of stock purchases and to mitigate currency risk on specific investments within the portfolio.
What is the Fund’s competitive advantage?
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https://platform.research-ip.com/funds/65099077
Research IP says
“The Magellan Infrastructure offering is differentiated in its focus on investing in reliable earnings streams, rather than looking at the physical asset. It tends to avoid areas where there is competition, commodity price movements or sovereign risk and will not invest in energy infrastructure or emerging countries like China or Russia.“
“Research IP considers key person risk in Stack to be relatively high, having significant responsibility as Head of Investments, Head of Infrastructure, and Portfolio Manager. Stack also chairs Magellan’s Investment Committee.“
“Research IP notes that portfolio performance can be somewhat different to peers and the benchmark over periods less than 12 months. This is largely due to the Manager’s process and investment philosophy, looking for quality companies with long term sustainable regulated cashflows, and the active cash position. The Fund’s performance from one out to ten years has varied with three plus year performance being above average, with shorter term one year performance being below the peer average.“
“Research IP notes that the base fee (1.05%) is in line with peer funds and while better structures can be applied in an individual account, the performance fee (10%) structure is best in class for a pooled fund (with absolute and relative hurdles).”
Research IP, 9 October 2020
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Disclaimer, Disclosures and Warnings
Research IP strongly recommends this document and report be read in conjunction with the relevant Product Disclosure Statement. Research IP gives no warranty of accuracy or completeness of information in this document. Any information, opinions, views or recommendations in this video are general information only and do not take into consideration any person’s particular financial situation or goals and therefore does not constitute personalised financial advice. This document should not be relied upon as a substitute for financial advice from your authorised financial adviser.
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