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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
10 year p.a. return to
December 2020
9.03%*
The fund pays
distributions
Quarterly
Indicative dividend
yield at 31 December 2020
3.65%
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 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 September 2020*
$12,331
Growth of $10,000
For the 5 years to December 2020, you would be up 23.31%*
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.
| Company | Industry | % as at 31 December 2020 |
|---|---|---|
| American Tower Corp A | Specialized REITs | 8.93% |
| Crown Castle Intl Corp | Specialized REITs | 6.15% |
| Enbridge Inc | Oil & Gas transportation | 5.81% |
| Vinci Ord | Construction & Engineering | 4.53% |
| National Grid PLC Ord | Multi-Utilities | 4.02% |
| TC Energy Corporation | Oil & Gas transportation | 3.43% |
| Sempra Energy | Multi-Utilities | 3.29% |
| SBA Communications Corp | Specialized REITs | 2.81% |
| Eversource Energy | Electric Utilities | 2.66% |
| Transurban Group Stapled | Highways & Railtracks | 2.58% |
| American Water Works Co Inc | Water Utilities | 2.49% |
| Kinder Morgan Inc | Oil & Gas transportation | 2.39% |
| Consolidated Edison Inc | Multi-Utilities | 2.22% |
| The Williams Companies Inc | Oil & Gas transportation | 2.18% |
| Edison Intl | Electric Utilities | 2.13% |
| Cellnex Telecom SA Ord | Telecommunication Networks | 2.09% |
| Fortis Inc | Electric Utilities | 1.70% |
| PG&E Corporation | Electric Utilities | 1.66% |
| ONEOK Inc | Oil & Gas transportation | 1.53% |
| Hong Kong and China Gas Co Ltd | Gas Utilities | 1.45% |
| Ferrovial SA Ord | Construction & Engineering | 1.24% |
| Cheniere Energy Inc | Oil & Gas transportation | 1.23% |
| Pembina Pipeline Corporation | Oil & Gas transportation | 1.16% |
| Aena SME SA Ord | Airport Services | 1.15% |
| Atmos Energy Corp | Gas Utilities | 1.08% |
| Snam SpA | Gas Utilities | 1.07% |
| Centerpoint Energy Inc | Multi-Utilities | 1.06% |
| ENN Energy Holdings Ltd | Gas Utilities | 1.01% |
| Terna SpA | Electric Utilities | 0.96% |
| Essential Utilities Inc | Water Utilities | 0.94% |
| Tokyo Gas Co | Gas Utilities | 0.81% |
| Atlantia SpA Ord | Highways & Railtracks | 0.81% |
| Red Electrica Corporacion SA | Electric Utilities | 0.80% |
| Nisource Inc | Multi-Utilities | 0.79% |
| APA Group Stapled | Gas Utilities | 0.79% |
| United Utilities Group PLC Ord | Water Utilities | 0.75% |
| China Gas Holdings Ltd | Gas Utilities | 0.73% |
| Naturgy Energy Group SA | Gas Utilities | 0.70% |
| Severn Trent PLC Ord | Water Utilities | 0.68% |
| Getlink SE Ord | Highways & Railtracks | 0.67% |
| China Tower Corporation Ltd - H Shares | Telecommunication Networks | 0.62% |
| Hydro One Limited | Electric Utilities | 0.61% |
| Auckland International Airport | Airport Services | 0.59% |
| Sydney Airport | Airport Services | 0.59% |
| Toho Gas Co | Gas Utilities | 0.58% |
| Targa Resources Corp | Oil & Gas transportation | 0.54% |
| Pennon Group Plc | Water Utilities | 0.49% |
| Enagas SA Ord | Gas Utilities | 0.49% |
| Atlas Arteria ORD | Highways & Railtracks | 0.43% |
| Japan Airport Terminal Co | Airport Services | 0.43% |
| HICL Infrastructure Co Ltd | 0.41% | |
| Grupo Aeroportuario del Pacifico S A B de C V ADR | Airport Services | 0.39% |
| Cash & Cash Equivalents | Cash | 0.39% |
| China Resources Gas Group Ltd | Gas Utilities | 0.38% |
| ONE Gas Inc | Gas Utilities | 0.37% |
| Elia Group Ord | Electric Utilities | 0.36% |
| Inter Pipeline Ltd | Oil & Gas transportation | 0.36% |
| INWIT - Infrastrutture Wireless Spa | Telecommunication Networks | 0.36% |
| Keyera Corp | Oil & Gas transportation | 0.35% |
| National Fuel Gas | Gas Utilities | 0.34% |
| SES SA | Cables & Satellites | 0.32% |
| ADP Promesses | Airport Services | 0.31% |
| Southwest Gas Holdings Inc | Gas Utilities | 0.31% |
| New Jersey Resources Corp | Gas Utilities | 0.31% |
| Kunlun Energy Co. Ltd | Gas Utilities | 0.30% |
| Flughafen Zurich AG | Airport Services | 0.30% |
| Spire Inc | Gas Utilities | 0.30% |
| Grupo Aeroportuario del Sureste SAB de CV B ADR | Airport Services | 0.30% |
| Italgas SpA | Gas Utilities | 0.28% |
| Vopak NV | Oil & Gas transportation | 0.27% |
| 3i Infrastructure Plc | 0.27% | |
| Northwestern Corp | Multi-Utilities | 0.26% |
| American States Water Co | Water Utilities | 0.26% |
| Cia de Saneamento Basico Es de S Paulo ADR | Water Utilities | 0.26% |
| Spark Infrastructure Group | Electric Utilities | 0.25% |
| California Water Services Group | Water Utilities | 0.24% |
| Ausnet Services Limited | Electric Utilities | 0.22% |
| Gibson Energy Inc | Oil & Gas transportation | 0.21% |
| Brookfield Infrastructure Corporation Class A | Gas Utilities | 0.20% |
| Grupo Aeroportuario Cen-Adr | Airport Services | 0.20% |
| Beijing Enterprises Water Group Ltd | Water Utilities | 0.20% |
| Antero Midstream Corp | Oil & Gas transportation | 0.20% |
| Fraport AG | Airport Services | 0.17% |
| Eutelsat Communications SA | Cables & Satellites | 0.17% |
| Chesapeake Utilities Corp | Gas Utilities | 0.17% |
| SJW Group | Water Utilities | 0.16% |
| Port of Tauranga | Marine Ports & Services | 0.15% |
| Beijing Capital International Airport Co. Ltd. - H Shares | Airport Services | 0.15% |
| Beijing Enterprises Holdings Ltd | Gas Utilities | 0.14% |
| ASTM SpA | Highways & Railtracks | 0.14% |
| China Merchants Port Holdings Co Ltd | Marine Ports & Services | 0.13% |
| Northwest Natural Holding Co | Gas Utilities | 0.13% |
| COSCO SHIPPING Ports Ltd | Marine Ports & Services | 0.12% |
| Jiangsu Expressway Co Ltd H Shares | Highways & Railtracks | 0.12% |
| Hainan Meilan International Airport Co Ltd - H Shares | Airport Services | 0.09% |
| Zhejiang Expressway Co. Ltd. - H Shares | Highways & Railtracks | 0.09% |
| Hutchison Port Holdings Trust | Marine Ports & Services | 0.09% |
| Enlink Midstream LLC | Oil & Gas transportation | 0.09% |
| Fjordkraft Holding ASA | Electric Utilities | 0.09% |
| Acea Spa Ord | Multi-Utilities | 0.08% |
| Helios Towers PLC | Telecommunication Networks | 0.07% |
| UNITIL Corp | Multi-Utilities | 0.06% |
| Rai Way Spa | 0.06% | |
| China Water Affairs Group Ltd | Water Utilities | 0.06% |
| Yuexiu Transport Infrastructure Ltd | Highways & Railtracks | 0.05% |
| Westshore Terminals Investment Corp | Marine Ports & Services | 0.04% |
| Shenzhen Expressway Co Ltd H Shares | Highways & Railtracks | 0.03% |
Returns
Funds Returns
Index Returns
Since Inception
N/A
3 months
-1.52%
1 year
-12.83%
5 years
6.44%
p.a
10 years
9.03%
p.a
*Returns are as at 31 December 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 our monthly fact sheet or the Fund Update.
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
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