- Legg Mason launches sterling hedged share classes for new infrastructure fund
- £170m fund managed by global infrastructure specialists RARE, a Legg Mason subsidiary
London, 25 August 2016 – Legg Mason has unveiled sterling hedged share classes for the Legg Mason IF RARE Global Infrastructure Income fund, following its launch last month.
The fund, which launched on 1st July 2016, has attracted over £170m* of assets so far, with Legg Mason now opting to provide hedged share classes to cater for those investors who want access to the strategy while limiting exposure to currency movements.
The new hedged share classes, made available 2nd August, will sit alongside the existing sterling share classes, and will provide investors with exposure to infrastructure equities while mitigating the impact of currency fluctuations.
The globally-diversified, next generation fund is managed by RARE’s co-CEOs and co-CIOs Nick Langley and Richard Elmslie. It focuses solely on the listed infrastructure space, with the majority of assets invested in essential utilities such as water, gas and electricity. The portfolio will target a high level of income, expected to be c.5% p.a. (under current market conditions), and a real total return of G7 inflation plus 5.5% p.a. †, over a market cycle.
Commenting on the launch, Adam Gent, Head of UK Sales at Legg Mason, said:
“The fund aims to seek out the best income opportunities from a universe of listed global infrastructure stocks, and currently c.90% of the fund is invested in stocks overseas.”
“The hedged share class offers investors flexibility and a means to access the attractive income streams offered by global listed infrastructure, while protecting themselves from exchange rate movements.”
 As at 24 August 2016
 Under current market conditions net of withholding tax, over a market cycle. This is an internal guideline only. These are targets and there is no guarantee that they will be met. Past performance is not a reliable indicator of future results.