Infrastructure Equity Fund (IEF)

Launched in 1995, the Infrastructure Equity Fund (IEF) was one of the original participants in the development of private infrastructure financing in Australia. IEF is an open ended trust that invests in a wide range of Australian and New Zealand infrastructure assets, diversified by a range of sectors and projects of varying business stages (from greenfield projects to mature infrastructure assets). IEF invests predominantly in unlisted infrastructure in Australia across a broad range of sectors such as transport links/nodes, utilities and social infrastructure. The Fund also pursues limited and opportunistic investments in New Zealand as well as listed infrastructure. The aim of IEF is to invest in a high quality portfolio of assets to provide a consistent absolute return, comprising a mix of capital growth and yield.

Fund at a glance

Investment objective

To provide a combination of growth and yield and generate a total return (after fees/expenses and before tax) above the benchmark on a rolling 12 month basis.

Benchmark

Australian 10 year Commonwealth Government bond yield + 4.5%

Investment portfolio

• Australia Pacific Airports Corporation (Melbourne and Launceston Airports)
• Brisbane Airport
• Fulham Correctional Centre
• Interlink Roads (M5 Motorway)
• Connector Motorways (Lane Cove Tunnel)
• Riverland Water
• Arrow Systems
• DUET (Diversified Utility and Energy Trusts) 
• Sydney University Village
• Principal Healthcare
• SP AusNet
• NZ Hospital Car Parks
• Matariki Forests
• Rivercity Motorway
• Reliance Rail
• New College Undergraduate Village

Inception date

May 1995

Structure

An open-ended wholesale unit trust.

Minimum investment

A$10 million. The manager may except lower subscription amounts.

More detailed information is available from the Infrastructure Equity Fund Information Memorandum.