ClearBridge RARE Emerging Markets Fund
This fund invests in a range of listed infrastructure securities spread across a number of infrastructure sub-sectors such as gas, electricity and water utilities, renewables, toll-roads, airports, rail and communication infrastructure and across geographic regions within emerging markets.
Key Portfolio Information
As at 30 April 2024 (returns in AUD after fees)
| Performance | 1 Month | 3 Months | 1 Year | 3 Years | 5 Years | Inception4 |
|---|---|---|---|---|---|---|
| ClearBridge RARE Emerging Markets Fund123 | -0.6% | 4.0% | 10.4% | 8.9% | 2.4% | 8.4% |
| S&P Emerging Markets Infrastructure Index - Net Return AUD Unhedged | 1.2% | 8.2% | 7.1% | 6.9% | 0.2% | 3.2% |
| Excess Returns | -1.8% | -4.2% | 3.3% | 2.0% | 2.2% | 5.2% |
| MSCI Emerging Markets Index - Net Return AUD | 0.9% | 9.8% | 11.8% | -0.1% | 3.5% | 5.6% |
As at 30 April 2024
- Regulated & Contracted Utilities
- User Pays Infrastructure
- Cash
- Other
As at 30 April 2024
| Top 10 Positions | Region | Sector | Weight % | Forward Dividend % |
|---|---|---|---|---|
| Jasa Marga | Asia Pacific Developing | Toll Roads | 4.6% | 1.4% |
| ICTS | Asia Pacific Developing | Ports | 4.5% | 0.0% |
| CCR SA | Latin America | Toll Roads | 4.5% | 3.2% |
| NTPC LTD | Asia Pacific Developing | Electric | 4.5% | 1.7% |
| Equatorial | Latin America | Electric | 4.4% | 2.5% |
| Power Grid | Asia Pacific Developing | Electric | 4.3% | 1.4% |
| Rumo Logistica | Latin America | Rail | 4.0% | 0.1% |
| China Resources Gas | Asia Pacific Developing | Gas | 3.7% | 4.9% |
| Eletrobras | Latin America | Electric | 3.5% | 5.1% |
| Sabesp | Latin America | Water | 3.4% | 1.8% |
| Fund Details | April 2024 |
|---|---|
| Number of Securities | 36 |
| APIR Code | TGP0015AU |
| Distribution Frequency | Semi-Annually |
| Lastest Distribution (CPU) | 11.00 |
| Portfolio Weighted Average | April 2024 |
|---|---|
| Avg Market Capitalisation | 19.9bn (AUD) |
| Div Yield (Forward) Gross | 3.7% |
| 5 Yr DPS Growth (p.a.) | 9.0% |
| Avg Stock Gearing (Net Debt/EV) | 32.2% |
| Interest Cover (Historic) | 5.0x |
| EV/EBITDA (Forward) | 8.9x |
Investment Objective: To provide investors with exposure to the growth of emerging markets infrastructure securities and to outperform the benchmark, being an accumulation index comprised of the S&P Emerging Markets Infrastructure Index.
For detailed information regarding our fees and transaction costs, please refer to the relevant Product Disclosure Statement here.
Unit Prices & Distributions
| Date | CCY | Nav | Entry | Exit |
|---|---|---|---|---|
| 15/05/202415/5/24 | AUD | 1.8493 | 1.8523 | 1.8458 |
| 14/05/202414/5/24 | AUD | 1.8559 | 1.8589 | 1.8524 |
| 13/05/202413/5/24 | AUD | 1.8559 | 1.8589 | 1.8524 |
| Date | CCY | CPU |
|---|---|---|
| 31/12/2023 | AUD | 11.00 |
| 30/06/2023 | AUD | 3.03 |
| 30/12/2022 | AUD | 2.50 |
| 30/06/2022 | AUD | 2.61 |
| 31/12/2021 | AUD | 1.25 |
| 30/06/2021 | AUD | 0.75 |
| 31/12/2020 | AUD | 1.50 |
| 30/06/2020 | AUD | 0.00 |
| 31/12/2019 | AUD | 2.00 |
| 30/06/2019 | AUD | 4.52 |
| 31/12/2018 | AUD | 2.50 |
| 30/06/2018 | AUD | 8.98 |
| 31/12/2017 | AUD | 2.50 |
| 30/06/2017 | AUD | 22.01 |
| 31/12/2016 | AUD | 8.00 |
Product Commentary
Infrastructure Multiples Point to a Potential Rerating
Despite headwinds to defensive stocks, infrastructure’s strong earnings growth, attractive valuations and predictable dividend stream make us quite constructive on the sector.
More...
Emerging Markets Strategy April Commentary
We remain defensively positioned as impacts of tightened financial conditions are expected to impact the economy and ultimately corporate earnings.
More...
Valuation of Infrastructure Assets Q1 2024
In our latest Valuation update, Portfolio Manager, Simon Ong discusses the contributors to infrastructure returns in the first quarter of 2024, and weighs in on the factors impacting different infrastructure sectors across the globe.
More...Investment Committee
The ClearBridge RARE Emerging Markets Fund is managed by an experienced investment committee comprising of the following members:
Nick Langley
Shane Hurst
Charles Hamieh
David Pow, CFA
Important Information for Investors
Franklin Templeton Australia Limited (AFSL No. 240827) ("Franklin Templeton"), as Responsible Entity, is the issuer of the ClearBridge RARE Emerging Markets Fund (ARSN 132 182 462). The information contained on this website is directed to wholesale investors and financial advisers only.
To view the Background Information for this fund, click here.
Research Ratings
SQM Research Report 2023 SUPERIOR: 4.0 STARS*
Product Downloads
- Application Form - Australian Pooled Funds
- ClearBridge RARE Emerging Markets Fund - Product Disclosure Statement
- ClearBridge Additional Information Booklet
- ClearBridge RARE Emerging Markets Fund - Class A TMD
- 2024 April ClearBridge RARE Infrastructure Emerging Markets Fund Fact Sheet
- 2024 March ClearBridge RARE Infrastructure Emerging Markets Fund Fact Sheet
- 2024 February ClearBridge RARE Infrastructure Emerging Markets Fund Fact Sheet
- Top 10 Holdings - Emerging Markets Strategy
Disclaimer
1. Sources: Internal calculations for the ClearBridge RARE Emerging Markets Fund. All index data sourced from FactSet. Results over one year annualised.
2. Fund performance is net of fees, assuming all distributions are reinvested and before tax.
3. All values on an AUD unhedged basis and net of withholding taxes for benchmarks, if applicable. Non-AUD values converted into AUD using FactSet Forex data.
4. Performance inception date for the ClearBridge RARE Emerging Markets Fund is 30/09/2008.
Past performance is not indicative of future performance.
While the information contained on this website has been prepared with all reasonable care, ClearBridge Investments* accepts no responsibility or liability for any errors, omissions or misstatements however caused. Any views expressed on this website are given as of the date of publication and such views are subject to change at any time. This information is not personal advice. It has been prepared without taking account of individual objectives, financial situation or needs. Where an investment product is mentioned, potential investors should seek independent advice as to the suitability of the product to their investment needs. Reference to shares in a particular company, is not a recommendation to buy, sell or hold that stock. Investors should be aware that past performance is not indicative of future performance.
This website may contain forecasts, including in regard to targets, expected returns, PE ratios and dividend yields. Any such statements are based upon research undertaken by the investment teams. This research incorporates our reasonable assumptions and beliefs concerning future developments and their potential effect but are subject to risks and uncertainties that may be beyond our control. Returns can be volatile, reflecting rises and falls in the value of underlying investments. Accordingly, we do not provide any assurance or guarantee that future developments will be aligned with our expectations, and actual results may differ materially from those expected or anticipated at the time of writing.
Franklin Templeton Australia Limited (AFSL No. 240827) (“Franklin Templeton”) is a part of Franklin Resources, Inc. and the Responsible Entity for certain ClearBridge managed Funds (the “Funds”). Applications to invest can only be made on the application form accompanying the most recent Fund Product Disclosure Statement (“PDS”) which is available on this website. Potential investors should read the relevant PDSs and the Additional Information Booklet (“AIB”) before making an investment decision. The PDSs and AIB can be obtained on this website or by contacting us: by telephone on (02) 9397 7351, by writing to ClearBridge Investments Limited (ABN 84 119 339 052; AFSL No. 307727), Level 13, 35 Clarence Street, Sydney, NSW 2000 or by email at [email protected]. Franklin Templeton can be contacted by writing to Franklin Templeton, Level 47, 120 Collins Street, Melbourne, VIC 3000 or by telephone on 1800 673 776. In accordance with the Design and Distribution Obligations and Product Interventions Powers requirements the Responsible Entity maintains Target Market Determinations (“TMD”) for each of the Funds. All documents can be found on this website on the Forms & Downloads page, by contacting Client Service on (02) 9397 7351 or by email at [email protected].
Franklin Templeton does not guarantee any rate of return or the return of capital invested. Investments are subject to risks, including, but not limited to, possible delays in payments and loss of income or capital invested.
ClearBridge Investments is wholly, indirectly owned by Franklin Resources, Inc.
*ClearBridge Investments consists of ClearBridge Investments, LLC. (“CBI”) and its affiliated managers whose businesses have been operationally integrated with CBI’s, including ClearBridge Investments Limited and its subsidiary in Australia, and a part of Franklin Templeton Investments Corp. doing business as ClearBridge Investments in Canada.
*SQM Rating Disclaimer
The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.