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CBRE Clarion Global Infrastructure

sligo
in Fund Discussions
While researching funds in the real estate sector I came across CGILX. Recognizing it is a new fund, less than a year in operation, it appears on the surface to be a fund covering areas of the infrastructure that are similar and in some cases the same as the TOLLX fund mentioned in the forum. How does real estate relate to global infrastructure - well CBRE Clarion run IGR which for what it is worth has a decent write up in M*. Reading up on the company they appear well positioned in the real estate market but does a fund manager experienced in real estate have the ability to manage an infrastructure fund ? So yes in addition to real estate I am also looking to invest in infrastructure which is why this raised my interest. I would appreciate any thoughts, comments regarding the company, fund, manager or direction to any further research.

Thanks

Comments

  • TedTed
    @sligo: Thank, CGILX is certainly worth watching.
    Regards,
    Ted
  • TSP_TransferTSP_Transfer
    edited April 2014
    Thanks for your post sligo.Just a little research led me to this link.Clarion appears to have at minimum an M L P infrastructure analyst on staff. As Ted stated,the fund is worthy of further monitoring.
    http://mlpguy.com/about

    Edit 4/01 Plenty of world wide projects abound,but also many roadblocks .

    TRANSPORTATION
    U.S. Airports Are Off the Chart: Ritholtz Chart
    4 MAR 31, 2014 12:40 PM ET
    By Barry Ritholtz
    http://www.bloombergview.com/articles/2014-03-31/u-s-airports-are-off-the-chart-ritholtz-chart
    "The list is notable for the absence of U.S. airports.

    This isn’t a surprise. Ideological extremism in the U.S. has turned what used to be the ordinary process of funding of infrastructure projects, such as airports, into a minefield of partisan rancor.

    Crumbling bridges, roads and airports are befitting a nation in decline."
  • scott
    edited April 2014
    Brookfield Infrastructure (BIP) is an excellent "pure play" on infrastructure. You are investing in a company who can literally invest in specific (say, a toll road in Latin America) infrastructure projects around the world and can do so opportunistically - BIP's holdings have changed and will almost certainly continue to do so over time. The problem is that it is an MLP and results in a K-1. That is sort of an "institutional-style" take on infrastructure.

    Otherwise, you have funds like TOLLX and the above Clarion fund. Lastly, INF is a cef from Brookfield Asset Management with a monthly dividend. You have this sector that I think is very compelling from the standpoint of long-run assets, relative consistency and need-based services in most cases. However, it's not a giant universe of stocks and I think you really have to go with the best, as despite my positive stance on infrastructure, I think some of these funds are not going to attract enough assets.

  • maxlib421
    Here are a couple of other choices to look at in this area:

    Lazard Global Listed Infrastructure GLFOX - 5 Star Fund with strong results so far and only 15% US stocks. A bit cheaper than TOLLX and a better yield.

    Northern Multi-Mgr Global Listed Infrastructure NMFIX - Management is split between Brookfield and Lazard as sub-advisors along with a couple of managers from Northern. Expense is .99%
  • sligo
    Thanks everyone for the input, initially I had discounted TOLLX because of the front end load however Vanguard brokerage indicates it is waived but not Scottrade. I have viewed BIP after previous posts by Scott though I am yet to get comfortable with a single stock as opposed to an open ended mutual fund/ETF. Still will review options including those mentioned here and will look for a reasonable entry point.
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