The Tortoise Sustainable Listed Infrastructure UCITS Fund aims to achieve a high, secure dividend yield on its investment portfolio and to realise long-term growth in the value of the portfolio while taking care to preserve capital.
Fund Stats as of 25/02/2020:
NAV
€121.05
NAV Change
€-2.63
Legal Structure
UCITS
ISIN
LU1991439727
Distribution Policy
Accumulating
Base Currency
EUR
Management Fee (Founders, Share Class for Institutional Investors)
0.60%
Minimum Investment (Founders, Share Class for Institutional Investors)
€2,500,000
Luxembourg Subscription Tax Rate (Institutional)
0.01%
The fund invests globally in the equity securities of growth-oriented economic infrastructure companies which are delivering increasing cash flows. The portfolio is diversified with respect to geography, sub-sector and investment themes, and it has a positive impact given the strategy’s focus on sustainability.
Strategy highlights
- Investment in growth-oriented economic infrastructure companies whose shares are listed primarily on recognized stock exchanges in Europe (including the UK), North America and other OECD countries
- Up to 10% of assets may be invested in companies with equity securities listed on stock exchanges in non-OECD countries
Tortoise believes that companies with a thorough understanding of, and strategy around, environmental, social and governance (ESG) issues are more capable of mitigating risks and enhancing their performance over the long term. Knowledge of ESG factors and risks and active ownership are, therefore, integral to the investment philosophy and process.
Business segments
Electric & Gas Utilities: Generation, Transmission & Distribution of Electricity, Gas and Liquid Fuels and Renewable Energies
Transportation Services: Roads, Railways, Ports and Airports
Water & Environment: Water Supply, Wastewater, Water Treatment and Environmental Services
Process
Investment process integrates traditional detailed fundamental analysis and a thorough study of ESG factors which we believe may affect stock valuations and shareholder value.
Portfolio
Portfolios typically comprise of 40-50 holdings, each 1.25% to 5.0% of the total portfolio. Holdings do not exceed 8% of the portfolio by value and turnover is typically low.
Characteristics of investment universe
Economic infrastructure offers unique characteristics that make it an attractive asset class for investors
Fund Information
Launch Date
01 August 2019
Base Currency
EUR
Currencies
GBP / SEK / EUR / USD / CHF
Share Classes
Retail (R), Institutional (I) both Accumulating and Distributing
Management Fee (Retail) 1
1.25%
Management Fee (Institutional) 1
0.85%
Management Fee (Founders, Share Class for Institutional Investors)
0.60%
Minimum Investment (Retail)
€1,000.00
Minimum Investment (Institutional)
€250,000.00
Minimum Investment (Founders, Share Class for Institutional Investors)
€2,500,000
Distribution Policy 2
Accumulating
Total Net Assets
TBD
Luxembourg Subscription Tax Rate (Retail)
0.05%
Luxembourg Subscription Tax Rate (Institutional)
0.01%
Legal Structure
UCITS
Redemption Settlement
3 business days
Administrator
BNP Paribas Securities Services, Luxembourg Branch, 60, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg
Non-founder classes, per annum on the net asset value of the fund.
Total expenses do not exceed 1.6% for the institutional and 2% for the retail share classes.
For distributing shares, dividends will be declared and distributed quarterly
Tortoise Ecofin® Platform
The Tortoise Ecofin Platform focuses on sustainability and impact strategies, harnessing years of investment expertise in infrastructure, water and the energy transition theme, including listed and private renewable energy infrastructure.
UN Sustainable Development Goals
Our strategies align with the following UN Sustainable Development Goals to help achieve sustainable energy and water sources.
Net Performance as of 31/12/2019
| Date | Class/Name | QTD | Since Inception |
|---|---|---|---|
| 31/12/2019 | Tortoise Sustainable Listed Infrastructure (EUR) | 0.62% | 10.75% |
| 31/12/2019 | S&P Global Infrastructure Index | 2.33% | 9.06% |
Net Performance as of 31/01/2020
| Date | Class/Name | Calendar YTD | Since Inception |
|---|---|---|---|
| 31/01/2020 | Tortoise Sustainable Listed Infrastructure (EUR) | 6.95% | 18.45% |
| 31/01/2020 | S&P Global Infrastructure Index | 2.75% | 12.06% |
*The fund commenced operations on 6 August 2019.
Source: Bloomberg for S&P Global Infrastructure Index (SPGTIND)
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Returns may increase or decrease due to currency fluctuations.
Tortoise Sustainable Listed Infrastructure Fund performance includes the effect of ongoing costs of the Fund (including the management fee), which are capped at 1.6% per annum for institutional investors, whereas the S&P Global Infrastructure Index (which is designed to track 75 companies from around the world chosen to represent the listed infrastructure industry while maintaining liquidity and tradability) does not apply a corresponding deduction for ongoing costs of a fund. (The performance of an index is generally presented on a total return basis, i.e., assuming reinvestment of dividends net of withholding taxes using the tax rates applicable to non-resident institutional investors.)
The S&P Global Infrastructure Index shall not be considered as a benchmark in the sense of the Benchmarks Regulation, and Tortoise does not give any representation or warranty with its fitness for a particular purpose in comparative performance.
Tortoise Sustainable Listed Infrastructure UCITS Fund TSLIU
This Fund is passported in Luxembourg, the UK, Norway, Denmark, Switzerland, Sweden and France; access to information on this Fund is not intended for prospective European investors outside of these jurisdictions other than under a local regulatory exemption.