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.

10 year p.a. return to
February 2021

7.79%*

The fund pays
distributions

Quarterly

Management fee
p.a. (before rebate)

0.39%

Indicative dividend
yield at 28 February 2021

3.77%

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. Through this fund you can invest in 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. This fund tracks the Dow Jones Brookfield Global Infrastructure Index and covers all sectors of the infrastructure market.

Fund Performance

We believe past performance should not be relied on to make an investment choice, so we strive to provide a range of 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 December 2020*

$12,739

Growth of $10,000

For the 5 years to February 2021, you would be up 27.39%*

Investment Objective

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

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

Holdings

Transparency is key and we think you should know which companies you own within our Fund. There are currently 106 companies in the Fund, spread across 20 countries. You can find out more about constituent selection here.

CompanyIndustry% as at 28 February 2021
American Tower CorpSpecialized REITs8.82%
Enbridge IncOil & Gas transportation6.31%
Crown Castle Intl CorpSpecialized REITs6.17%
Vinci OrdConstruction & Engineering4.89%
National Grid PLC OrdMulti-Utilities3.92%
TC Energy CorporationOil & Gas transportation3.64%
Sempra EnergyMulti-Utilities3.07%
Kinder Morgan IncOil & Gas transportation2.63%
SBA Communications CorpSpecialized REITs2.60%
The Williams Companies IncOil & Gas transportation2.55%
Eversource EnergyElectric Utilities2.50%
Transurban Group StapledHighways & Railtracks2.49%
American Water Works Co IncWater Utilities2.36%
Consolidated Edison IncMulti-Utilities2.06%
Cellnex Telecom SA OrdTelecommunication Networks1.96%
Edison IntlElectric Utilities1.88%
ONEOK IncOil & Gas transportation1.81%
Fortis IncElectric Utilities1.65%
Hong Kong and China Gas Co LtdGas Utilities1.48%
PG&E CorporationElectric Utilities1.44%
Cheniere Energy IncOil & Gas transportation1.42%
Pembina Pipeline CorporationOil & Gas transportation1.29%
Ferrovial SA OrdConstruction & Engineering1.16%
Aena SME SA OrdAirport Services1.15%
ENN Energy Holdings LtdGas Utilities1.08%
Snam SpAGas Utilities1.01%
Atmos Energy CorpGas Utilities0.98%
Centerpoint Energy IncMulti-Utilities0.97%
Terna SpAElectric Utilities0.91%
Atlantia SpA OrdHighways & Railtracks0.87%
Essential Utilities IncWater Utilities0.86%
Naturgy Energy Group SAGas Utilities0.78%
APA Group StapledGas Utilities0.78%
Nisource IncMulti-Utilities0.76%
China Gas Holdings LtdGas Utilities0.75%
United Utilities Group PLC OrdWater Utilities0.75%
Tokyo Gas CoGas Utilities0.74%
Severn Trent PLC OrdWater Utilities0.68%
Red Electrica Corporacion SAElectric Utilities0.67%
Getlink SE OrdHighways & Railtracks0.66%
Targa Resources CorpOil & Gas transportation0.65%
China Tower Corporation LtdTelecommunication Networks0.64%
Auckland International AirportAirport Services0.61%
Hydro One LimitedElectric Utilities0.60%
Inter Pipeline LtdOil & Gas transportation0.56%
Sydney AirportAirport Services0.55%
Toho Gas CoGas Utilities0.54%
Enagas SA OrdGas Utilities0.48%
Pennon Group PlcWater Utilities0.47%
China Resources Gas Group LtdGas Utilities0.46%
HICL Infrastructure Co Ltd0.41%
Keyera CorpOil & Gas transportation0.40%
Atlas Arteria ORDHighways & Railtracks0.38%
National Fuel GasGas Utilities0.38%
Grupo Aeroportuario del PacificoAirport Services0.37%
New Jersey Resources CorpGas Utilities0.35%
Grupo Aeroportuario del SuresteAirport Services0.34%
Elia Group OrdElectric Utilities0.34%
Japan Airport Terminal CoAirport Services0.33%
ONE Gas IncGas Utilities0.33%
Southwest Gas Holdings IncGas Utilities0.32%
Kunlun Energy Co. LtdGas Utilities0.32%
ADP PromessesAirport Services0.31%
Spire IncGas Utilities0.31%
INWIT - Infrastrutture Wireless SpaTelecommunication Networks0.31%
Flughafen Zurich AGAirport Services0.31%
Vopak NVOil & Gas transportation0.29%
SES SACables & Satellites0.28%
Northwestern CorpMulti-Utilities0.27%
Italgas SpAGas Utilities0.26%
Spark Infrastructure GroupElectric Utilities0.25%
California Water Services GroupWater Utilities0.25%
American States Water CoWater Utilities0.25%
3i Infrastructure Plc0.23%
Antero Midstream CorpOil & Gas transportation0.23%
Gibson Energy IncOil & Gas transportation0.23%
Ausnet Services LimitedElectric Utilities0.22%
Fraport AGAirport Services0.21%
Cia de Saneamento Basico Es de S Paulo ADRWater Utilities0.21%
Beijing Enterprises Water Group LtdWater Utilities0.19%
Brookfield InfrastructureGas Utilities0.19%
Eutelsat Communications SACables & Satellites0.19%
Grupo Aeroportuario Cen-AdrAirport Services0.18%
ASTM SpAHighways & Railtracks0.17%
China Merchants Port Holdings Co LtdMarine Ports & Services0.17%
Chesapeake Utilities CorpGas Utilities0.17%
Port of TaurangaMarine Ports & Services0.16%
SJW GroupWater Utilities0.15%
Beijing Enterprises Holdings LtdGas Utilities0.14%
Jiangsu Expressway Co Ltd H SharesHighways & Railtracks0.13%
Northwest Natural Holding CoGas Utilities0.13%
Beijing Capital International AirportAirport Services0.13%
Hutchison Port Holdings TrustMarine Ports & Services0.11%
Zhejiang Expressway Co. Ltd. - H SharesHighways & Railtracks0.10%
COSCO SHIPPING Ports LtdMarine Ports & Services0.10%
Enlink Midstream LLCOil & Gas transportation0.09%
Helios Towers PLCTelecommunication Networks0.08%
Acea Spa OrdMulti-Utilities0.08%
China Water Affairs Group LtdWater Utilities0.07%
Shenzhen Expressway Co Ltd H SharesHighways & Railtracks0.07%
Yuexiu Transport Infrastructure LtdHighways & Railtracks0.07%
Fjordkraft Holding ASAElectric Utilities0.07%
UNITIL CorpMulti-Utilities0.06%
Westshore Terminals Investment CorpMarine Ports & Services0.05%
Hainan Meilan International AirportAirport Services0.05%
Rai Way Spa0.05%

Returns

Since Inception

N/A

3 months

-5.38%

1 year 

-16.97%

5 years

4.96%

p.a

10 years

7.79%

p.a

*Returns are as at 28 February 2021. 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 our monthly fact sheet or the Fund Update.

Group 53 (1)

Want exposure to a stable source of cash flows?

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Copyright 2020 – Kernel Wealth Limited 

Indices provided by: 

CompanyIndustry% as at 28 February 2021
American Tower CorpSpecialized REITs8.82%
Enbridge IncOil & Gas transportation6.31%
Crown Castle Intl CorpSpecialized REITs6.17%
Vinci OrdConstruction & Engineering4.89%
National Grid PLC OrdMulti-Utilities3.92%
TC Energy CorporationOil & Gas transportation3.64%
Sempra EnergyMulti-Utilities3.07%
Kinder Morgan IncOil & Gas transportation2.63%
SBA Communications CorpSpecialized REITs2.60%
The Williams Companies IncOil & Gas transportation2.55%
Eversource EnergyElectric Utilities2.50%
Transurban Group StapledHighways & Railtracks2.49%
American Water Works Co IncWater Utilities2.36%
Consolidated Edison IncMulti-Utilities2.06%
Cellnex Telecom SA OrdTelecommunication Networks1.96%
Edison IntlElectric Utilities1.88%
ONEOK IncOil & Gas transportation1.81%
Fortis IncElectric Utilities1.65%
Hong Kong and China Gas Co LtdGas Utilities1.48%
PG&E CorporationElectric Utilities1.44%
Cheniere Energy IncOil & Gas transportation1.42%
Pembina Pipeline CorporationOil & Gas transportation1.29%
Ferrovial SA OrdConstruction & Engineering1.16%
Aena SME SA OrdAirport Services1.15%
ENN Energy Holdings LtdGas Utilities1.08%
Snam SpAGas Utilities1.01%
Atmos Energy CorpGas Utilities0.98%
Centerpoint Energy IncMulti-Utilities0.97%
Terna SpAElectric Utilities0.91%
Atlantia SpA OrdHighways & Railtracks0.87%
Essential Utilities IncWater Utilities0.86%
Naturgy Energy Group SAGas Utilities0.78%
APA Group StapledGas Utilities0.78%
Nisource IncMulti-Utilities0.76%
China Gas Holdings LtdGas Utilities0.75%
United Utilities Group PLC OrdWater Utilities0.75%
Tokyo Gas CoGas Utilities0.74%
Severn Trent PLC OrdWater Utilities0.68%
Red Electrica Corporacion SAElectric Utilities0.67%
Getlink SE OrdHighways & Railtracks0.66%
Targa Resources CorpOil & Gas transportation0.65%
China Tower Corporation LtdTelecommunication Networks0.64%
Auckland International AirportAirport Services0.61%
Hydro One LimitedElectric Utilities0.60%
Inter Pipeline LtdOil & Gas transportation0.56%
Sydney AirportAirport Services0.55%
Toho Gas CoGas Utilities0.54%
Enagas SA OrdGas Utilities0.48%
Pennon Group PlcWater Utilities0.47%
China Resources Gas Group LtdGas Utilities0.46%
HICL Infrastructure Co Ltd0.41%
Keyera CorpOil & Gas transportation0.40%
Atlas Arteria ORDHighways & Railtracks0.38%
National Fuel GasGas Utilities0.38%
Grupo Aeroportuario del PacificoAirport Services0.37%
New Jersey Resources CorpGas Utilities0.35%
Grupo Aeroportuario del SuresteAirport Services0.34%
Elia Group OrdElectric Utilities0.34%
Japan Airport Terminal CoAirport Services0.33%
ONE Gas IncGas Utilities0.33%
Southwest Gas Holdings IncGas Utilities0.32%
Kunlun Energy Co. LtdGas Utilities0.32%
ADP PromessesAirport Services0.31%
Spire IncGas Utilities0.31%
INWIT - Infrastrutture Wireless SpaTelecommunication Networks0.31%
Flughafen Zurich AGAirport Services0.31%
Vopak NVOil & Gas transportation0.29%
SES SACables & Satellites0.28%
Northwestern CorpMulti-Utilities0.27%
Italgas SpAGas Utilities0.26%
Spark Infrastructure GroupElectric Utilities0.25%
California Water Services GroupWater Utilities0.25%
American States Water CoWater Utilities0.25%
3i Infrastructure Plc0.23%
Antero Midstream CorpOil & Gas transportation0.23%
Gibson Energy IncOil & Gas transportation0.23%
Ausnet Services LimitedElectric Utilities0.22%
Fraport AGAirport Services0.21%
Cia de Saneamento Basico Es de S Paulo ADRWater Utilities0.21%
Beijing Enterprises Water Group LtdWater Utilities0.19%
Brookfield InfrastructureGas Utilities0.19%
Eutelsat Communications SACables & Satellites0.19%
Grupo Aeroportuario Cen-AdrAirport Services0.18%
ASTM SpAHighways & Railtracks0.17%
China Merchants Port Holdings Co LtdMarine Ports & Services0.17%
Chesapeake Utilities CorpGas Utilities0.17%
Port of TaurangaMarine Ports & Services0.16%
SJW GroupWater Utilities0.15%
Beijing Enterprises Holdings LtdGas Utilities0.14%
Jiangsu Expressway Co Ltd H SharesHighways & Railtracks0.13%
Northwest Natural Holding CoGas Utilities0.13%
Beijing Capital International AirportAirport Services0.13%
Hutchison Port Holdings TrustMarine Ports & Services0.11%
Zhejiang Expressway Co. Ltd. - H SharesHighways & Railtracks0.10%
COSCO SHIPPING Ports LtdMarine Ports & Services0.10%
Enlink Midstream LLCOil & Gas transportation0.09%
Helios Towers PLCTelecommunication Networks0.08%
Acea Spa OrdMulti-Utilities0.08%
China Water Affairs Group LtdWater Utilities0.07%
Shenzhen Expressway Co Ltd H SharesHighways & Railtracks0.07%
Yuexiu Transport Infrastructure LtdHighways & Railtracks0.07%
Fjordkraft Holding ASAElectric Utilities0.07%
UNITIL CorpMulti-Utilities0.06%
Westshore Terminals Investment CorpMarine Ports & Services0.05%
Hainan Meilan International AirportAirport Services0.05%
Rai Way Spa0.05%

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