The Ecofin 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.

Lux Fund Stats as of 01/07/2022:

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NAV

€110.78

NAV Change

€2.53

Legal Structure

UCITS

ISIN

IE00073SD237

Distribution Policy

Accumulating and Distributing

Base Currency

EUR

Management Fee (Founders, Share Class for Institutional Investors)

0.60%

Minimum Investment (Founders, Share Class for Institutional Investors)

€2,500,000

EUR Founders Accumulating

The Irish UCITS 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

Ecofin 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: Roads, Railways, Ports and Airports

Environmental Services: Water Supply, Wastewater, Water Treatment and Waste Management

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 (ESLIF & Lux Fund)

Base Currency

EUR

Legal Structure

UCITS

Portfolio Manager

Ecofin Advisors Limited

Minimum Investment (Retail)

€1,000.00

Minimum Investment (Institutional)

€250,000.00

Minimum Investment (Founders, Share Class for Institutional Investors)

€2,500,000

Management Fee (Retail) 1

1.25%

Management Fee (Institutional) 1

0.85%

Management Fee (Founders, Share Class for Institutional Investors)

0.60%

Distribution Policy 2

Accumulating and Distributing

Redemption Settlement

3 Business Days

ISIN (EUR Share Class, Institutional)

IE000CZWNPK5

ESLIF Fund Information

Launch Date

2/22/2022

ISIN (EUR, Founders, Accumulating, Share Class for Institutional Investors)

IE00073SD237

Currencies

EUR / USD / GBP

Total Net Assets

€883K

Administrator

Société Générale Securities Services, Sgss (Ireland) Limited

Lux Fund Information - this fund is now closed to new investment

Launch Date

06 August 2019

ISIN (EUR, Founders, Accumulating, Share Class for Institutional Investors)

LU1991439727

Currencies

GBP / SEK / EUR / USD / CHF

Total Net Assets

€8.8M

Luxembourg Subscription Tax Rate (Retail)

0.05%

Luxembourg Subscription Tax Rate (Institutional)

0.01%

Administrator

BNP Paribas Securities Services, Luxembourg Branch, 60, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg

  1. 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.

  2. For distributing shares, dividends will be declared and distributed quarterly

Portfolio Exposure (% of NAV)

As of 31/05/2022

Top 10 Positions

Company % of Total
NextEra Energy*
5.6%
RWE Ag
4.0%
Endesa Sa
3.7%
American Electric Power
3.7%
Enel
3.4%
Company % of Total
Sse Plc
3.3%
Exelon Corporation
2.9%
Atlas Arteria
2.9%
Terna S.p.A
2.9%
Ferrovial, S.A.
2.7%

Time Period

Lux Fund Net Performance as of 31/03/2022

NAV performance in EUR.

Performance data quoted represents past performance of Lux, not ESLIF; 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. Performance includes the effect of costs (including the management fee) which are capped at 1.35% per annum for Founder investors.

Lux Fund Net Performance as of 31/05/2022

NAV performance in EUR.

Performance data quoted represents past performance of Lux, not ESLIF; 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. Performance includes the effect of costs (including the management fee) which are capped at 1.35% per annum for Founder investors.

*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.

IMPORTANT DISCLOSURE

The Irish domiciled Ecofin Global Sustainable Listed Infrastructure UCITS Fund ("ESLIF") is a newly-launched fund which does not have a full month of performance. A clone of ESLIF launched under Luxembourg domiciliation in August 2019. Both ESLIF and the Lux Fund are managed by Ecofin Advisors Limited to the same strategy but the Lux Fund’s performance and portfolio information provided in any fact sheet does not constitute the Irish Fund’s performance as it is provided for background information purposes only.

Investments in the Fund should only be made following receipt of a copy of the full Prospectus, current Fund Supplement and relevant KIID, which may be obtained by contacting the Fund's Management Company, Equity Trustees Fund Services (Ireland) Limited and they are also available on the Ecofin website under UCITS. A subscription form can also be obtained from Equity Trustees Fund Services (Ireland) Limited.

ESLIF is passported for distribution in Ireland, the UK, Norway, Denmark, Sweden and France; access to information on this Fund is not intended for prospective EU investors outside of these jurisdictions other than under a local regulatory exemption.

 


Information on this website is being issued by Ecofin ("Ecofin UK"), in relation to this Fund in respect of which Ecofin UK manages the portfolio.

Ecofin UK is a leading investment management advisor within the Ecofin family, specialising in sustainability and impact investing globally across the energy transition value chain. It has been FCA regulated since 1992 and SEC registered since January 2006.

Office: London