Kernel Global Infrastructure

A globally diversified exposure to mostly infrastructure lines of business, e.g. utilities, storage and telecommunications infrastructure providing relatively stable cash flow and inflation hedging.

Tracks the Dow Jones Brookfield Global Infrastructure

Index

5 year p.a. return to June 2020

4.92%*

The fund pays distributions

Quarterly

Trailing P/E ratio to June 2020

28.66

Fund Overview

Infrastructure is the backbone of modern societies, benefiting from guaranteed government contracts and limited competition. It follows that companies involved in this space have stable cash flows and are hedged against inflation. This fund provides exposure to global companies which derive at least 70% of their cash flows from infrastructure lines of business, which adds an element of reliability to a portfolio. Closely tied to economic growth, exposure to infrastructure can benefit investors long-term.

Fund Performance

We believe past performance should not be relied on to make an investment choice, so we strive to provide a range information to assist in making the best choice for your goals.

Range of Returns

The best and the worst 12 month returns in the 10 years to June 2020*

$12,714

Growth of $10,000

For the 5 years to June 2020, you would be up 27.1%*

Investment Objective

The fund is designed to provide global diversification and income generation.

*These are the gross index returns, not including fees or taxes.

Fund Holdings

Transparency is key and we think you should know which companies you own within our Fund. There are currently 104 companies in the Fund, spread across 20 countries. You can find out more about constituent selection here.

CompanyIndustry% at 30 June 2020
American Tower Corp AReal Estate10.3%
Crown Castle Intl CorpReal Estate6.8%
Enbridge IncEnergy6.0%
VinciIndustrials4.6%
National Grid PLCUtilities4.5%
TC Energy CorporationEnergy3.9%
Sempra EnergyUtilities3.4%
SBA Communications CorpReal Estate3.3%
Kinder Morgan IncEnergy2.9%
Eversource EnergyUtilities2.7%
Transurban Group NPVIndustrials2.6%
Consolidated Edison IncUtilities2.4%
American Water Works Co IncUtilities2.3%
The Williams Companies IncEnergy2.3%
Edison IntlUtilities2.0%
Fortis IncUtilities1.7%
Cellnex Telecom S.A.Communication Services1.6%
Hong Kong and China Gas Co LtdUtilities1.6%
ONEOK IncEnergy1.4%
Pembina Pipeline CorporationEnergy1.3%
Ferrovial SAIndustrials1.3%
Atmos Energy CorpUtilities1.2%
Cheniere Energy IncEnergy1.1%
Snam SpAUtilities1.0%
Centerpoint Energy IncUtilities1.0%
Aena SAIndustrials1.0%
Terna SpAUtilities0.9%
Essential Utilities IncUtilities0.9%
Tokyo Gas CoUtilities0.9%
APA GroupUtilities0.9%
Nisource IncUtilities0.9%
ENN Energy Holdings LtdUtilities0.8%
Red Electrica Corporacion SAUtilities0.8%
China Tower Corporation Ltd - H SharesCommunication Services0.8%
United Utilities Group PlcUtilities0.8%
Atlantia SpAIndustrials0.7%
Severn TrentUtilities0.7%
China Gas Holdings Ltd.Utilities0.6%
Getlink SEIndustrials0.6%
Enagas SAUtilities0.6%
Pennon GroupUtilities0.6%
Hydro One LimitedUtilities0.6%
Auckland Intl Airport LtdIndustrials0.5%
Toho Gas CoUtilities0.5%
Targa Resources CorpEnergy0.5%
Sydney AirportIndustrials0.4%
Atlas ArteriaIndustrials0.4%
China Resources Gas Group Ltd.Utilities0.4%
ONE Gas IncUtilities0.4%
Inter Pipeline Ltd.Energy0.4%
HICL Infrastructure Co LtdReal Estate0.4%
Southwest Gas Holdings, IncUtilities0.4%
National Fuel GasUtilities0.4%
Cia de Saneamento Basico Es de S Paulo ADRUtilities0.4%
Elia GroupUtilities0.4%
Vopak NVEnergy0.3%
Spire IncUtilities0.3%
Keyera Corp.Energy0.3%
ADP PromessesIndustrials0.3%
New Jersey Resources CorpUtilities0.3%
Japan Airport Terminal CoIndustrials0.3%
American States Water CoUtilities0.3%
INWIT - Infrastrutture Wireless SpaCommunication Services0.3%
Italgas SpAUtilities0.3%
Northwestern CorpUtilities0.3%
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. ADRIndustrials0.3%
SESCommunication Services0.3%
Kunlun Energy Co. Ltd.Utilities0.3%
Spark Infrastructure TrustUtilities0.3%
Flughafen Zurich AGIndustrials0.2%
Beijing Enterprises Water Group Ltd.Utilities0.2%
California Water Services GroupUtilities0.2%
Grupo Aeroportuario del Sureste SAB de CV B ADRIndustrials0.2%
Gibson Energy IncEnergy0.2%
3i Infrastructure PlcReal Estate0.2%
AusNet Services LtdUtilities0.2%
ASTM SpAIndustrials0.2%
Northwest Natural Holding CoUtilities0.2%
SJW GroupUtilities0.2%
Fraport AGIndustrials0.2%
Beijing Enterprises Holdings Ltd.Utilities0.2%
Grupo Aeroportuario Cen-AdrIndustrials0.2%
Eutelsat Communications PromessesCommunication Services0.2%
Port Of TaurangaIndustrials0.2%
China Merchants Port Holdings Co LtdIndustrials0.2%
Antero Midstream CorpEnergy0.1%
Jiangsu Expressway Co Ltd H SharesIndustrials0.1%
Chesapeake Utilities CorpUtilities0.1%
Brookfield Infrastructure Partners CorpUtilities0.1%
Beijing Capital International Airport Co. Ltd. - H SharesIndustrials0.1%
Zhejiang Expressway Co. Ltd. - H SharesIndustrials0.1%
COSCO SHIPPING Ports LtdIndustrials0.1%
Acea SpaUtilities0.1%
Shenzhen Expressway Co Ltd H SharesIndustrials0.1%
UNITIL CorpUtilities0.1%
Enlink Midstream LLCEnergy0.1%
China Water Affairs Group Ltd.Utilities0.1%
Fjordkraft Holding ASAUtilities0.1%
Yuexiu Transport Infrastructure LtdIndustrials0.1%
Westshore Terminals Investment CorporationIndustrials0.1%
Hutchison Port Holdings TrustIndustrials0.1%
Towngas China Co. Ltd.Utilities0.0%
Hamburger Hafen und Logistik AGIndustrials0.0%
CorEnergy Infrastructure Trust, IncReal Estate0.0%

Fund Returns

Since Inception

N/A

3 months

2.73%

1 year 

-1.92%

3 years

7.28%

p.a

5 years

4.92%

p.a

*Returns are as at 30 June 2020. See our full performance disclaimer for more details.

Risk and Returns

The risk indicator reflects how much the value of the Fund’s assets goes up and down (volatility). A higher risk generally means higher potential returns over time, but more ups and downs along the way. The lowest risk rating doesn’t mean “risk-free” and this risk indicator is not a guarantee of a Fund’s future performance. For more information, read the PDS.

Group 53 (1)

Want exposure to a stable source of cash flows?

You may also call us on 0800 537 635 during 9am-5pm weekdays.

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Copyright 2020 – Kernel Wealth Limited 

Indices provided by: 

Our Funds
1 MONTH
YTD
1 YEAR
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The trailing price-to-earnings ratio (P/E ration) is a relative valuation multiple based on the last 12 months of actual earnings. It is calculated by dividing the current stock price by the trailing earnings per share for the previous year. Analysts like the P/E ratio because it shows how many years of current profits you pay for a share. Investors may be willing to pay a higher P/E for a company with strong future profitability prospects or stability. At some point, some companies are simply “overpriced”. Likewise, some firms deserve a lower P/E ratio because they have an unproven track record or future profitability expectations are poor. Some others may be underpriced, representing a great bargain. For a fund, the P/E ratio is a weighted average of the P/E ratios of the underlying companies.

CompanyIndustry% at 30 June 2020
American Tower Corp AReal Estate10.3%
Crown Castle Intl CorpReal Estate6.8%
Enbridge IncEnergy6.0%
VinciIndustrials4.6%
National Grid PLCUtilities4.5%
TC Energy CorporationEnergy3.9%
Sempra EnergyUtilities3.4%
SBA Communications CorpReal Estate3.3%
Kinder Morgan IncEnergy2.9%
Eversource EnergyUtilities2.7%
Transurban Group NPVIndustrials2.6%
Consolidated Edison IncUtilities2.4%
American Water Works Co IncUtilities2.3%
The Williams Companies IncEnergy2.3%
Edison IntlUtilities2.0%
Fortis IncUtilities1.7%
Cellnex Telecom S.A.Communication Services1.6%
Hong Kong and China Gas Co LtdUtilities1.6%
ONEOK IncEnergy1.4%
Pembina Pipeline CorporationEnergy1.3%
Ferrovial SAIndustrials1.3%
Atmos Energy CorpUtilities1.2%
Cheniere Energy IncEnergy1.1%
Snam SpAUtilities1.0%
Centerpoint Energy IncUtilities1.0%
Aena SAIndustrials1.0%
Terna SpAUtilities0.9%
Essential Utilities IncUtilities0.9%
Tokyo Gas CoUtilities0.9%
APA GroupUtilities0.9%
Nisource IncUtilities0.9%
ENN Energy Holdings LtdUtilities0.8%
Red Electrica Corporacion SAUtilities0.8%
China Tower Corporation Ltd - H SharesCommunication Services0.8%
United Utilities Group PlcUtilities0.8%
Atlantia SpAIndustrials0.7%
Severn TrentUtilities0.7%
China Gas Holdings Ltd.Utilities0.6%
Getlink SEIndustrials0.6%
Enagas SAUtilities0.6%
Pennon GroupUtilities0.6%
Hydro One LimitedUtilities0.6%
Auckland Intl Airport LtdIndustrials0.5%
Toho Gas CoUtilities0.5%
Targa Resources CorpEnergy0.5%
Sydney AirportIndustrials0.4%
Atlas ArteriaIndustrials0.4%
China Resources Gas Group Ltd.Utilities0.4%
ONE Gas IncUtilities0.4%
Inter Pipeline Ltd.Energy0.4%
HICL Infrastructure Co LtdReal Estate0.4%
Southwest Gas Holdings, IncUtilities0.4%
National Fuel GasUtilities0.4%
Cia de Saneamento Basico Es de S Paulo ADRUtilities0.4%
Elia GroupUtilities0.4%
Vopak NVEnergy0.3%
Spire IncUtilities0.3%
Keyera Corp.Energy0.3%
ADP PromessesIndustrials0.3%
New Jersey Resources CorpUtilities0.3%
Japan Airport Terminal CoIndustrials0.3%
American States Water CoUtilities0.3%
INWIT - Infrastrutture Wireless SpaCommunication Services0.3%
Italgas SpAUtilities0.3%
Northwestern CorpUtilities0.3%
Grupo Aeroportuario del Pacifico, S.A.B. de C.V. ADRIndustrials0.3%
SESCommunication Services0.3%
Kunlun Energy Co. Ltd.Utilities0.3%
Spark Infrastructure TrustUtilities0.3%
Flughafen Zurich AGIndustrials0.2%
Beijing Enterprises Water Group Ltd.Utilities0.2%
California Water Services GroupUtilities0.2%
Grupo Aeroportuario del Sureste SAB de CV B ADRIndustrials0.2%
Gibson Energy IncEnergy0.2%
3i Infrastructure PlcReal Estate0.2%
AusNet Services LtdUtilities0.2%
ASTM SpAIndustrials0.2%
Northwest Natural Holding CoUtilities0.2%
SJW GroupUtilities0.2%
Fraport AGIndustrials0.2%
Beijing Enterprises Holdings Ltd.Utilities0.2%
Grupo Aeroportuario Cen-AdrIndustrials0.2%
Eutelsat Communications PromessesCommunication Services0.2%
Port Of TaurangaIndustrials0.2%
China Merchants Port Holdings Co LtdIndustrials0.2%
Antero Midstream CorpEnergy0.1%
Jiangsu Expressway Co Ltd H SharesIndustrials0.1%
Chesapeake Utilities CorpUtilities0.1%
Brookfield Infrastructure Partners CorpUtilities0.1%
Beijing Capital International Airport Co. Ltd. - H SharesIndustrials0.1%
Zhejiang Expressway Co. Ltd. - H SharesIndustrials0.1%
COSCO SHIPPING Ports LtdIndustrials0.1%
Acea SpaUtilities0.1%
Shenzhen Expressway Co Ltd H SharesIndustrials0.1%
UNITIL CorpUtilities0.1%
Enlink Midstream LLCEnergy0.1%
China Water Affairs Group Ltd.Utilities0.1%
Fjordkraft Holding ASAUtilities0.1%
Yuexiu Transport Infrastructure LtdIndustrials0.1%
Westshore Terminals Investment CorporationIndustrials0.1%
Hutchison Port Holdings TrustIndustrials0.1%
Towngas China Co. Ltd.Utilities0.0%
Hamburger Hafen und Logistik AGIndustrials0.0%
CorEnergy Infrastructure Trust, IncReal Estate0.0%
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