Fund Facts

# of Holdings




Primary Benchmark

S&P Global Infrastructure Index

Oldest Share Class Inception


Access to Sustainable Physical Infrastructure Assets

The Fund seeks sustainable listed companies that own and operate underlying physical infrastructure assets. An infrastructure investment offers certain hard-to-replicate characteristics compared to other asset classes. These include: 1) stable and predictable demand as they provide critical services to customers; 2) high barriers to entry because infrastructure assets take substantial time and investment to develop and maintain; and 3) long-term contracted revenue streams.

With these inherent attributes, we believe the Fund could serve as a solid complement to an investor’s core equity portfolio, providing the potential opportunity to boost returns while seeking to reduce overall risk.

Sustainability-Led Approach

Sustainability is a core part of the Fund’s actively managed investment process. The Portfolio Managers assess the quality and operations of each holding at initial purchase as well as on an ongoing basis to determine whether the company delivers a net social or environmental benefit. In addition, each company’s strategy, economic activity and fundamental purpose will be assessed based on the Ten Principles of the United Nations Global Compact. The Portfolio Managers believe meeting these criteria sets the stage for companies’ long-term success.


Reasons to Invest

  1. 1

    Capitalize on a Long-Term Secular Trend

    The drivers of infrastructure investment are stronger than ever. Whether it’s energy security, changing demographics, or digitalization, infrastructure will play a pivotal role. These transformative megatrends require trillions of dollars of investment, underpinning growth and providing a long tailwind for infrastructure investors.
  2. 2

    Buffer Against Inflation

    Infrastructure asset-owning companies have had highly visible cash flows driving a steady return throughout market cycles. The underlying assets are often government contracted and inflation-linked with an earnings profile that can be typically less volatile than other equities.
  3. 3

    Leverage Global Infrastructure Specialists

    The Fund is sub-advised by Foresight Group, a leading sustainability-led infrastructure and private equity manager headquartered in London with over 300 employees in 13 offices across 8 countries and $13 billion in assets as of 12/31/23.

Fund Performance (%)

As of 5/31/24

Class MTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception
Institutional Class 9.78 -2.58 -2.63 - - - -6.90
S&P Global Infrastructure Index 6.34 7.17 13.59 - - - 6.67

As of 3/31/24

Class QTD YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception
Institutional Class -8.35 -8.35 -10.92 - - - -12.56
S&P Global Infrastructure Index 1.34 1.34 4.12 - - - 2.60

Expense Ratios (gross/net): Institutional 1.73%/1.33%; Expenses Capped at 1.05%. Inception date is 1/31/23.

The Fund’s Investment Manager has contractually agreed to waive its management fees and/or reimburse Fund expenses to ensure that Total Annual Fund Operating Expenses (exclusive of taxes, leverage, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, acquired fund fees and expenses, and extraordinary expenses) do not exceed 1.05% of the Fund’s average daily net assets for the Institutional Class shares through at least 1/31/25. Please refer to the prospectus for detailed information.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the 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. For performance information through the most recent month end please call 855.625.7333 or visit

Portfolio As of 3/31/24

Geographic Exposure (%)

U.S. 30.0%
Great Britain 25.0%
Canada 18.7%
Other-Europe 14.2%
New Zealand 7.2%
Australia 4.8%

Sector Weightings

Sector Exposure
Renewables 38.7%
Diversified Infrastructure 23.7%
Digital Infrastructure 23.3%
Healthcare 9.8%
Government Facilities 4.5%

Excludes cash.

Top 10 Holdings

Holding Percent
Cellnex Telecom SA 5.3%
Infratil Ltd. 5.3%
3i Infrastructure PLC 5.2%
Brookfield Renewable Partners 4.9%
Boralex, Inc. - Class A 4.8%
American Tower Corp. 4.5%
Transurban Group 4.5%
Easterly Government Properties, Inc. 4.2%
Healthpeak Properties, Inc. 4.2%
Northland Power, Inc. 3.9%
Total 46.8%