MONEY MASTERS

RARE: Infrastructure Value Fund

Nick Langley. co-chief executive & co-chief investment officer RARE Infrastructure

The RARE Infrastructure Value Fund aims to utilise the listed market to replicate the risk return profile of unlisted infrastructure. In this Money Masters course, Nick Langley will explore how an investment in listed infrastructure can be used in a portfolio, the ideal investment horizon for infrastructure assets and the research process RARE employs when it comes to stock selection.

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What you'll learn /

The RARE Infrastructure Value Fund masterclass with Nick Langley will give you insights into:

 

How an investment in listed infrastructure can be used in a portfolio
The ideal investment horizon for infrastructure assets
The research process the group employs when it comes to stock selection
What type of investors are best suited to the RARE Infrastructure Value Fund

About the expert /

Nick Langley /

co-chief executive & co-chief investment officer RARE Infrastructure


Nick Langley is a founder, co-chief executive officer and co-chief investment officer of RARE Infrastructure. As a senior portfolio manager, Nick is involved in assessing and critiquing research on all strategies and ensuring the smooth operation of the firm. Prior to founding RARE in 2006, Nick spent 11 years in the infrastructure sector including four years as a Principal of AMP Capital’s Infrastructure Funds Management team, where he was also the CFO of DUET, an ASX-listed investment trust with AUD 5 billion in electricity and gas assets. Nick also spent two years with UBS in New York and, prior to that, worked with ABN AMRO in Sydney to provide advice across various infrastructure sectors such as communications, multi-utilities and transport.

  • CPD hours1
  • Knowledge AreaMANAGED INVESTMENTS
  • TypeMONEY MASTERS
  • PriceFREE
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Outline of the course /

Snapshot

Nick Langley is co-chief executive and co-chief investment officer of RARE. As a member of the investment leadership team, Nick is responsible for the governance and management of the investment team and process. As a senior portfolio manager he is also a member of the investment committee responsible for the investment performance across all strategies. Nick has over 20 years of investment and infrastructure experience. Prior to founding RARE in 2006 he held the roles of chief financial officer of an Australian-listed infrastructure trust, principal of an unlisted infrastructure funds group, and investment banker to infrastructure companies.

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01.
OVERVIEW

Fund philosophy

The RARE Infrastructure Value Fund aims to utilise the listed market to replicate the risk return profile of unlisted infrastructure.

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02.

Understanding listed infrastructure

The RARE Infrastructure Value Fund invests in infrastructure assets for example, roads, rail and ports, as well as regulated utilities including water, gas and electricity transmission and distribution.

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03.

Competitive advantage

Infrastructure should be invested in for the long haul so it’s crucial not to be swayed by short-term market noise or movements.

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04.

Providing portfolio stability

Over a long-term time horizon the RARE Infrastructure Value Fund aims to diversify an investor’s portfolio by providing returns largely uncorrelated to other investment classes.

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05.

The team

A broad set of infrastructure knowledge and experience enables the team behind the RARE Infrastructure Value Fund to undertake more detailed research and due diligence on each potential investment opportunity.

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06.
STRUCTURE AND OBJECTIVES

Unique aspects of the fund

The RARE Infrastructure Value Fund differentiates itself by employing detailed asset-level analysis focussed on the regulatory and contractual frameworks and exploiting market mispricing in the listed markets.

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07.

Reserach process

The RARE team employs a long dated approach to company valuations via bottom-up research processes and portfolio construction focused on risk adjusted returns to equity (RARE).

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08.
BEST SUITED FOR

The ideal investor

The RARE Infrastructure Value Fund is ideal for all investors looking for global diversification from traditional asset classes. It has historically delivered lower volatility than listed property and equities and attractive income with a level of inflation protection.

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09.

Investment horizon and returns

The RARE Infrastructure Value Fund has an investment horizon of five years and a flexible portfolio construction approach to achieve its benchmark through the investment cycle.

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10.

Key considerations for investors

Investors considering an investment in listed infrastructure should focus on longer term returns and set an investment horizon of a minimum of five years.

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11.

Test yourself /