Millinium's Utilities Fund (IM)
The Fund’s Objective
Millinium's Utilities Fund (MUF) aims to build a portfolio of investments in the utility sector that provide an appropriate balance of regular cash yield and prospects for long term capital growth.
The Fund’s objective is to provide investors with ongoing yield and capital appreciation by accessing listed and unlisted utilities, fixed interest, private equity and cash assets over a 10 year fixed term period.
The Fund’s Focus
The fund focuses on companies and institutions that operate in the Energy, Infrastructure, Water and Waste industries. A portion of the portfolio is typically invested in bonds and convertible securities.
| The Fund’s Target asset allocation: | |||
| Asset Classes(1) (5) | Minimum | Target Allocation (3) | Maximum |
| Utilities companies shares and assets (2) | 30% | 85% | 100% |
| Fixed interest assets (including rated and unrated investments)(4) | 0% | 10% | 45% |
| Managed investments (4) | 0% | 0% | 20% |
| Derivatives (hedging only) (6) | 0% | 0% | 50% |
| Cash and equivalents | 5% | 5% | 50% |
| Please click here to view the Assets of the Fund |
Highlights of the Fund
• Up to $500 million in commitments(1)
• Minimum Fund size is $100 million(2)
• Australian domiciled unit trust with a 10 year closed term
• Designed for wholesale and sophisticated investors
• Minimum initial investment $500,000 (subject to our discretion)
• Diversified investment strategy for income and capital growth
• Estimated 7% to 8% income yield secured against utilities assets(3)
• Experienced investment management team(s)
• Specialist Advisors
•
Diversified asset mix over medium to long term
• Distributions made half yearly
• External Advisory Board; and
• External Investment Committee
(1) The Fund’s asset allocation may be more or less than the Target Allocation shown and can change without notice. (2) This may comprise a broad category of utility assets and initiatives that are accessed by security lending and/or equity position arrangements, including for entities to transition to a Carbon Emissions Trading program (“ETS”). These asset classes may also encompass assets that may be held prior to any ASX listing and until the fund divests its holding after that time. (3) The Fund’s Target Allocation is a target only and can change without notice. (4) This category may include equity and other yielding and growth asset classes and may be held depending upon changes in market conditions. (5) The Fund may borrow or gear up to the value of 20% of the Fund’s assets. (6) Foreign exchange hedging on currency transactions for the Fund may apply.