Investment objective & strategy
As of Oct. 28, 2025 · prospectusObjective. The investment objective of the MFG Core Infrastructure Fund (formerly, the Frontier MFG Core Infrastructure Fund) (the Fund) is long-term capital appreciation.
Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets in the equity securities of infrastructure companies. Equity securities in which the Fund invests as part of its principal investment strategy consist of common stocks, stapled securities (an equity security comprised of multiple parts) and Real Estate Investment Trusts (REITs) of infrastructure companies. The Fund will concentrate in the infrastructure sector and utilities industry. The Fund will invest in both U.S. and non-U.S. companies of all market capitalizations, with a minimum market capitalization of U.S. $500 million at the time of investment. With respect to its non-U.S. investments, the Fund invests in companies located in developed countries but may also invest in emerging markets as part … Under normal market conditions, the Fund invests at least 80% of its net assets in the equity securities of infrastructure companies. Equity securities in which the Fund invests as part of its principal investment strategy consist of common stocks, stapled securities (an equity security comprised of multiple parts) and Real Estate Investment Trusts (REITs) of infrastructure companies. The Fund will concentrate in the infrastructure sector and utilities industry. The Fund will invest in both U.S. and non-U.S. companies of all market capitalizations, with a minimum market capitalization of U.S. $500 million at the time of investment. With respect to its non-U.S. investments, the Fund invests in companies located in developed countries but may also invest in emerging markets as part of its principal investment strategy. The Funds subadviser, Magellan Asset Management Limited doing business as Magellan Investment Partners (formerly MFG Asset Management) (Magellan Investment Partners), seeks to provide investors with exposure to the infrastructure sector and to deliver stable investment returns relative to other equity funds. The Fund invests in a diversified portfolio of securities of infrastructure companies that Magellan Investment Partners has determined have an appropriate capital structure, are likely to generate reliable income streams and are likely to benefit from inflation protection. The Funds portfolio will typically comprise 70-100 securities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ENBRIDGE INC | — | $4.84M | 3.14% |
| TC ENERGY CORP | — | $4.70M | 3.05% |
| TRANSURBAN GROUP | — | $4.41M | 2.87% |
| VINCI SA | — | $4.35M | 2.83% |
| NATIONAL GRID PL | — | $4.34M | 2.82% |
| AENA SME SA | — | $4.24M | 2.76% |
| FERROVIAL SE | — | $4.20M | 2.73% |
| FORTIS INC | — | $4.18M | 2.72% |
| SNAM SPA | — | $3.93M | 2.55% |
| U.S. Bank Money Market Deposit Account | USBFS03 | $3.74M | 2.43% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Russell Investments Global Infrastructure ETF · RIFR | 47% | 0.59% |
| Virtus Duff & Phelps Global Infrastructure Fund · PGUAX, PGUCX, PGIUX, VGIRX | 44% | 0.85% |
| ProShares DJ Brookfield Global Infrastructure ETF · TOLZ | 44% | 0.46% |
Advisers
| Firm | Role |
|---|---|
| Frontegra Asset Management, Inc. | Adviser |
| MFG Asset Management | Sub-adviser |
Footnotes
- Expense ratio as of October 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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