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Looking for comments on DWS RREEF Global Infrastructure = TOLSX
I came across this fund today as I was screening for NTF World Stock funds. It seems to have consistent returns over 1 and 3 years but, no 5 year track record as of yet.
I own quite a bit of Brookfield Infrastructure (BIP), which I think is a particularly compelling and unique *literal* infrastructure play - it holds timber, toll roads, rail, ports and other real assets around the world. It is an MLP, but there's really nothing like it, and it pays a nice dividend. It has, however, run up a lot. Brookfield Infrastructure is a spin-off from parent Brookfield Asset Management (BAM), which I also own. I also have a small amount in Tortoise Capital (TTO), which is trying to transition to an infrastructure REIT.
As mutual funds go, I like this DWS fund quite a bit, with a pretty sizable amount in mobile and energy infrastructure.
Thanks for your comments Scott. I see this fund as a global equity fund with a focus...in this case, infrastructure, which as you point out has some really great diversification. Charting this fund against the World Allocation index and the MSCI EAFE index (which is how M* classifies it) it seems to provide a pretty smooth ride.
Reply to @bee: Well, I think it also falls under "real assets" - hard assets that are strategic, productive and produce a consistent cash flow. I've discussed on the board before that I think infrastructure will get increasing attention as an asset class, both from small investors and things like Sovereign Wealth Funds. You're seeing Asian investment going into European infrastructure -
"Canada Pension ‘Interested’ In European Infrastructure Assets" http://www.bloomberg.com/news/2012-05-08/canada-pension-interested-in-european-infrastructure-assets.html "Canada Pension has been investing in private companies and infrastructure in the past decade, buying stakes in utilities, pipelines and companies as it diversifies from stocks and fixed income assets. Canada Pension, with C$152.8 billion ($152.9 billion) in assets of Dec. 31, manages retirement funds for 18 million Canadians in every province except Quebec."
There's a lot more, as well, but I do think strategic infrastructure (ports, rail, lots more falls under that) will continue to draw a lot of interest in coming years.
Comments
As mutual funds go, I like this DWS fund quite a bit, with a pretty sizable amount in mobile and energy infrastructure.
Thanks for your comments Scott. I see this fund as a global equity fund with a focus...in this case, infrastructure, which as you point out has some really great diversification. Charting this fund against the World Allocation index and the MSCI EAFE index (which is how M* classifies it) it seems to provide a pretty smooth ride.
"China Buys Into Portuguese National Power Company, Politicians Aghast"
http://oilprice.com/Energy/Energy-General/China-Buys-Into-Portuguese-National-Power-Company-Politicians-Aghast.html
"Canada Pension ‘Interested’ In European Infrastructure Assets"
http://www.bloomberg.com/news/2012-05-08/canada-pension-interested-in-european-infrastructure-assets.html
"Canada Pension has been investing in private companies and infrastructure in the past decade, buying stakes in utilities, pipelines and companies as it diversifies from stocks and fixed income assets. Canada Pension, with C$152.8 billion ($152.9 billion) in assets of Dec. 31, manages retirement funds for 18 million Canadians in every province except Quebec."
There's a lot more, as well, but I do think strategic infrastructure (ports, rail, lots more falls under that) will continue to draw a lot of interest in coming years.