Dexus Core Infrastructure Fund

A blend of income and capital growth


Dexus Core Infrastructure Fund (DCIF) provides investors with access to a diversified portfolio of Australian and global listed and unlisted infrastructure assets across multiple asset types, sectors and locations. DCIF offers strong risk-adjusted return (income and capital growth) potential, with a low expected correlation to other asset classes, such as equities and bonds. 

Unlisted infrastructure assets are generally difficult for investors to access due to the large capital outlay required. However, DCIF removes this barrier to entry by offering investors access to high-quality, unlisted infrastructure assets, usually only available to large institutional investors, but with a low minimum investment amount. The fund takes an integrated approach to building a strategically blended portfolio of unlisted infrastructure assets and listed infrastructure securities in Australia and around the globe. It offers investors access to infrastructure assets across airport, power transmission and distribution, rail, telecommunication, regulated utilities and education sectors, and a total return of income and capital growth.

This fund is suitable for Financial Advisers, Direct and Wholesale Investors. 




A portfolio of global

infrastructure assets



Assets such as Melbourne Airport and Powerco are some of the most significant infrastructure assets in their sectors and countries. 

Predictable cash flows
with less volatility

The essential services nature of infrastructure assets means that earnings are generally less volatile than equities.

Low correlation to
other asset classes


Infrastructure investment returns generally have a low correlation to other mainstream assets, delivering diversification benefits to your portfolio.

  • How does this fund fit into your portfolio?

    The fund is designed for investors seeking an investment which provides the potential for sustainable income and capital growth over the long term. It can be used to complement existing solutions in a blended portfolio.

  • Description of target market for this fund

    This product is likely to be appropriate for a consumer seeking capital growth and regular income to be used as a small allocation within a portfolio where the consumer has a medium-to-long investment timeframe and a high-risk/return profile.

  • Withdrawal frequency

    We aim to process withdrawals within 10 business days. However, due to the liquidity characteristics of the fund's unlisted infrastructure assets, we may take up to 365 days or longer to pay withdrawal requests, as allowed under the fund's constitution.

  • Risk profile

    The fund may be suitable for a consumer with a higher risk profile who can accept higher potential losses (e.g., has the ability to bear up to six negative returns over a 20-year period (SRM 6)) in order to target a higher return.

What are the risks?

All investments involve risk and you should consider investment risks before making an investment decision. The key risks of investing in the fund include or are associated with:

  • Liquidity – potential significant delays in pricing and processing withdrawals, and the possible suspension of withdrawals if the fund ceases to be liquid.

  • Share market investments – the value of the fund’s listed securities may decrease as a result of adverse share market movements.

  • International investments – risks include exchange rate loss and the risk that political or economic climates may change without notice.

  • Gearing – losses as well as returns may be magnified through the use of gearing.

Risks of investing specific to the fund may also include or be associated with currency exchange rates, deal flow, infrastructure investments, infrastructure and utility market regulation, co-ownership and derivatives.

Prospective investors should refer to the Product Disclosure Statement and Derivative Risk Statement (which can be obtained by contacting us) before making an investment. The ‘Risks of investing’ section in the Product Disclosure Statement for this fund provides further information about the risks noted above, as well as information about other investment risks of which you should be aware.

  

Investment objective
To provide total returns (income and capital
growth) after costs and before tax, above
the Fund's performance benchmark. The
benchmark for the Fund is the 10-year Australian Government Bond Yield plus 3.25%pa.

Minimum suggested timeframe
5 years

Distribution frequency
Quarterly

Product inception date
30 Oct 2007

Benchmark
10 year Australian Government Bond Yield plus 3.25%

Risk level (1-7)
6

Minimum investment
$10,000

APIR code
AMP1180AU

The Fund's risk level is based on the estimated number of negative annual returns for the Fund over any 20-year period and is not a complete assessment of the risks of investing in the Fund. For instance, it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the Fund, you should read the Fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment time frame. Information about the methodology used for calculating the risk level is available here.

Unit Prices

As at 17 Jul 2024

1.24016

Buy

1.23892

Sell

AMP1180AU

APIR code

$10,000

Minimum investment

Buy/Sell Spreads

0.05%

Buy

0.05%

Sell

Performance

As at 31 May 2024

1 Month

0.92%

3 Month

1.40%

6 Month

0.62%

1 Year

0.93%

3 Year

1.36%

5 Year

1.39%

Since Inception

6.09%

Past performance is not a reliable indicator of future performance.

Investment objective
To provide total returns
(income and capital growth) after costs
and before tax, above the Fund's
performance benchmark. The benchmark
for the Fund is the 10 year
Australian Government Bond Yield
plus 3.25%pa.

Minimum suggested timeframe
5 years

Distribution frequency
Quarterly

Product inception date
19 Nov 2007

Risk level (1-7)
6

Product status
Open

APIR Code
AMP1179AU

Access
Available off-platform and through selected platforms

Notes
View current buy/sell spreads

The Fund's risk level is based on the estimated number of negative annual returns for the Fund over any 20 year period and is not a complete assessment of the risks of investing in the Fund. For instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the Fund, you should read the Fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment time frame. Information about the methodology used for calculating the risk level is available here.

Unit Prices

As at 17 Jul 2024

1.27068

Buy

1.26941

Sell

AMP1179AU

APIR code

Buy/Sell Spreads

0.05%

Buy

0.05%

Sell

Performance

As at 31 May 2024

1 Month

0.95%

3 Month

1.47%

6 Month

0.74%

1 Year

1.18%

3 Year

1.66%

5 Year

1.69%

Since Inception

6.47%

Past performance is not a reliable indicator of future performance.

  • Important note: The unit prices displayed in this section are indicative only

    The unit price is determined under the Fund's constitution by reference to the net asset value and transaction costs pertaining to the relevant class of units, and the number of units on issue in that unit class. 


    The market value and net asset value of the Fund are normally determined at least each Business Day, using the market prices and unit prices of the assets in which the Fund is invested. The definition of a Business Day is contained in the Fund’s Product Disclosure Statement.


    If unit prices are not available for today then the latest available prices will be displayed. 


    The Responsible Entity may exercise certain discretions in determining the price of units in the Fund. The Unit Pricing Discretions Policy sets out the types of discretions that the Responsible Entity may exercise and in what circumstances the Responsible Entity exercises the discretions and the reasons why it considers the policies are reasonable. The Responsible Entity is required to keep a record of any instance where a discretion is exercised in a way that departs from these policies.


    The Unit Pricing Discretions Policy can be obtained by clicking on this link or a copy can be obtained, free of charge, by contacting us. 


    Unit Pricing Discretions Policy


    Unit prices are provided for your information only and are not guaranteed. They are based on historical data and you should not rely on the above information as the basis for making any investment, financial or other decision as past unit prices are not a reliable indicator of future unit prices.


    During the time it takes to process an application or redemption application, the unit price may vary and the actual unit prices applying to applications and redemptions may differ from those displayed in this section. Actual unit prices can be confirmed on receipt of a completed application or redemption form.


    AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) or any company within the Dexus Group makes any representation or warranty as to the reliability, completeness or accuracy of the unit price information or accepts any responsibility arising in any way (including by reason of negligence) for errors in or omissions from the unit price information.


    The information in this section is not an offer or recommendation of securities or other financial products offered by the Dexus Group and is not an invitation to take up securities or other financial products. Investors should consider the relevant PDS available from us for the relevant fund before making any decision regarding the product.

  • Important note: past performance
    Past performance is not a reliable indicator of future performance.



    Performance is annualised for periods greater than one year. Total returns are calculated using the unit price which uses the net asset values for the relevant month end. This price may differ from the actual unit price for an investor applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction by an investor. Returns quoted are before tax, after fees and costs, and assume all distributions are reinvested.

Governance Report Name File for download
Dexus Core Infrastructure Fund Constitution Download

Dexus Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (“DCFM”) is the responsible entity of the Dexus Core Infrastructure Fund (“Fund”) and the issuer of the units in the Fund. DCFM is a member of a group owned by Dexus Funds Management Limited as responsible entity of Dexus Property Trust and Dexus Operations Trust (“Dexus”).

To invest in the Fund, investors will need to obtain the current Product Disclosure Statement (“PDS”) from DCFM or its investment manager. The PDS contains important information about investing in the Fund and it is important that investors read the PDS before making a decision about whether to acquire, or continue to hold or dispose of units in the Fund. Neither DCFM nor any other company in the Dexus Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this information. Past performance is not a reliable indicator of future performance. While every care has been taken in the preparation of this information, neither DCFM nor any other Dexus group company makes any representation or warranty as to the accuracy or completeness of any statement in it including without limitation, any forecasts. This content has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of this information, and seek professional advice, having regard to their objectives, financial situation and needs. This content is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest. A target market determination has been made in respect of the Fund and is available at www.dexus.com/dcif.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned to APIR AMP1179AU, November 2021) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

The rating issued 05/2024 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2024 Lonsec. All rights reserved.
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