Whitehelm Capital has launched the Australian Whitehelm Listed Core Infrastructure Fund, an Australian-domiciled version of its global infrastructure fund, according to various media sources.
The core fund aims to build a diversified portfolio by investing in high-quality assets that have clear and measurable cash flows, according to Whitehelm. These include airports; toll roads; railroads; and water, gas and electricity utilities.
The fund avoids investments in power producers and retailers with exposure to volume and pricing risk, according to Financial Standard. The company said it would not invest in sectors such as logistics and shipping companies with typically low margins and more volatile earnings.
“The fund aims to be the ideal defensive component of a balanced retail investor’s portfolio,” said Whitehelm portfolio manager Ursula Tonkin. “It is more defensive than listed property and most global peer funds.”
She added, “The fund also offers greater risk diversification and a lower correlation to broad equity markets than most peer funds, with a low 0.6 beta to global stocks markets and a high degree of drawdown protection.”
Whitehelm is one of the largest independent global infrastructure fund managers, with €3 billion ($3.3 billion) in funds under management and €11 billion ($12 billion) in funds under advisement.
