Affin Hwang Asset Management launches new fund

Affin Hwang AM chief marketing and distribution officer Chan Ai Mei said in a statement: “As we emerge from the pandemic, more cities and governments are looking at prioritising maintenance, facility upgrades and embracing sustainability in its public goods and utilities.

KUALA LUMPUR: Affin Hwang Asset Management Bhd (Affin Hwang AM) has launched the Affin Hwang World Series – Global Infrastructure Income Fund.

It said this is a wholesale feeder fund that provides investors access to global income opportunities through listed infrastructure assets.

The fund will feed into a collective investment scheme, namely Legg Mason ClearBridge Global Infrastructure Income Fund (target fund), which is managed by ClearBridge Investments – a specialist investment manager from Franklin Templeton.

Affin Hwang AM said to achieve its investment objective, it will invest a minimum of 80% of net asset value (NAV) into the target fund and a maximum of 20% of NAV into money market instruments, deposits and/or cash.

Affin Hwang AM chief marketing and distribution officer Chan Ai Mei said in a statement: “As we emerge from the pandemic, more cities and governments are looking at prioritising maintenance, facility upgrades and embracing sustainability in its public goods and utilities.

“This is expected to drive infrastructure spending globally including investments in electricity supply and efficiency, renewable energy generation as well as wireless towers with the advent of 5G.”

Chan pointed out that coupled with a rapid urbanisation rate and the emergence of more mega cities, infrastructure spending could see a further uplift as governments ramp-up fiscal spending to support global recovery and decarbonise cities.

“With little overlap against traditional asset classes such as equities and fixed income, the fund provides an additional source of diversification to investors through exposure in infrastructure assets that are often regulated and have long-term contracts, where asset lives are typically measured in decades.”