Investment objective & strategy
As of Jan. 23, 2026 · prospectusObjective. The fund has investment objectives of both capital appreciation and current income.
Strategy. The fund invests globally in infrastructure companies involved in the energy, utility, transportation, and communications industries. Infrastructure companies are believed by the subadviser to exhibit attractive risk/return characteristics, offer moderate-to-high income and moderate growth, and be defensive in nature. Under normal market conditions, the fund invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Under normal market conditions, the fund will invest at least 25% of its assets in securities of U.S. issuers. Although the fund concentrates its investments in infrastructure companies, it may invest up to 20% of its assets in securities of issuers that are not … The fund invests globally in infrastructure companies involved in the energy, utility, transportation, and communications industries. Infrastructure companies are believed by the subadviser to exhibit attractive risk/return characteristics, offer moderate-to-high income and moderate growth, and be defensive in nature. Under normal market conditions, the fund invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Under normal market conditions, the fund will invest at least 25% of its assets in securities of U.S. issuers. Although the fund concentrates its investments in infrastructure companies, it may invest up to 20% of its assets in securities of issuers that are not infrastructure companies, including stocks, real estate investment trusts (REITS) and similar REIT-like entities, debt obligations, money market securities and money market mutual funds, as well as certain derivative instruments. To the extent the fund purchases non-infrastructure stocks, they may be of issuers of any capitalization. When investing in debt obligations, the fund will invest primarily in investment grade debt obligations, although it may invest in high-yield, high-risk fixed income securities (junk bonds).
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| AENA SME SA | — | $11.20M | 6.47% |
| NEXTERA ENERGY INC | — | $8.89M | 5.13% |
| UNION PACIFIC CORP | — | $8.42M | 4.86% |
| WILLIAMS COS INC | — | $6.22M | 3.59% |
| SOUTHERN CO | — | $6.15M | 3.55% |
| SEMPRA ENERGY | — | $6.06M | 3.50% |
| CSX CORP | — | $5.22M | 3.02% |
| FLUGHAFEN ZU-REG | — | $5.08M | 2.93% |
| CANADIAN PACIFIC KANSAS CITY LTD | — | $4.83M | 2.79% |
| ENBRIDGE INC | — | $4.67M | 2.70% |
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. |
|---|---|---|
| Virtus Total Return Fund Inc. | 70% | — |
| Russell Investments Global Infrastructure ETF · RIFR | 62% | 0.59% |
| Cohen & Steers Global Infrastructure Fund Inc. · CSUAX, CSUCX, CSUIX, CSURX, CSUZX, CSUFX | 56% | 0.87% |
Footnotes
- Expense ratio as of February 3, 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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