The primary investment objective of the Fund is to provide investors with a high level of total return consisting of dividends and other income, and capital appreciation.
The Fund seeks to achieve its investment objective by investing at least 80 per cent of its total assets in equity and equity like securities issued by US and non-US issuers that primarily own or operate infrastructure assets (Infrastructure Issuers).
In pursuit of its investment objective, the Fund will also seek to manage its investment so that at least 25 per cent of its distributions may qualify as tax-advantaged 'qualified dividend income' for US federal tax income purposes.
It is anticipated that most of the Infrastructure Issuers in which the Fund will invest will be public companies listed on national or regional stock exchanges.
The Manager will seek to identify and select investments in Infrastructure Issuers that, over the long term, are anticipated to produce consistent and stable dividend yield, and capital appreciation commensurate with the underlying risk of the investment.
The Manager believes that analysis of an Infrastructure Issuer's underlying assets is key in determining the long-term quality of the company's potential revenue and income streams. The Manager believes that investments made on the basis of a systematic, bottom-up, fundamentals-based approach, identifying long-term potential value in Infrastructure Issuers, should outperform investments made on the basis of short-term market factors.
Total net assets
All share classes
|Fund information as of 04/30/2020|
|Ticker symbol (NAV)||XMGUX |
Brad Frishberg, CFA
CIO — Global Listed Infrastructure Securities
Start date on the Fund:
Years of industry experience:
Ratios and supplemental data
|Net assets, end of period (000 omitted)
|Ratio of expenses to average net assets1
|Ratio of expenses to average net assets prior to interest expenses reimbursed
|Ratio of expenses to average net assets excluding interest expenses
|Ratio of net investment income to average net assets
|Ratio of net investment income to average net assets prior to interest expenses reimbursed
1For the years ended November 30, 2019, 2018, 2017, 2016, and 2015, the annualized ratios to Total Assets were 1.69%, 1.92%, 1.58%, 1.88%, and 1.89%, respectively. The prospectus for the Fund defines Total Assets as Total Net Assets plus leverage.
Fact sheet and commentaries