Actively-managed and diversified
Argo Infrastructure’s actively-managed portfolio is diversified across 50-100 global listed infrastructure securities across various subsectors and geographies, including both emerging and developed economies.
The large and highly liquid nature of the global listed infrastructure universe offers the flexibility to build a highly diversified portfolio.
The diversified nature of the portfolio acts to reduce volatility and mitigate risk.
Argo Infrastructure’s diversified portfolio
^ Many of the largest infrastructure companies are listed in the United States, although their assets and earnings are often global. Figures above are to 31 October 2021.
Up to 5% of the portfolio may be held in cash securities which provides the ability to pursue market opportunities as they arise. The portfolio is unhedged for currency and we have no debt.
Argo Infrastructure’s portfolio only includes listed companies that derive at least 70% of revenues from, or have at least 70% of assets committed to, the construction, development or financing of infrastructure assets, or the management, ownership and/or operation of infrastructure assets.
Top 10 investments
Details of Argo Infrastructure’s 10 largest investments as a percentage of the investment portfolio at 30 June 2021 are listed below.
|Security name||Country of listing||Subsector||Portfolio (%)||Index (%)|
|NextEra Energy||US||Integrated Electric||5.6||4.8|
|American Tower||US||Communication Tower||4.8||4.5|
|Transurban Group||AUS||Toll Roads||4.8||4.4|
|Norfolk Southern||US||Freight Rails||3.8||1|
|SBA Communications||US||Communication Tower||3.1||1.3|
|Public Service Enterprise Group||US||Regulated Electric||2.7||1.2|
|American Electric Power Company||US||Regulated Electric||2.7||1.8|
|FirstEnergy Corporation||US||Regulated Electric||2.5||0.8|
Full list of portfolio holdings
Argo Infrastructure’s entire portfolio of investments, including the value of each holding, is released each year in the Annual Report. See page 52 of our latest Annual Report.