Price & Performance

In a year of continued volatility in listed markets and uncertainty in global economies, UTA performed strongly over the 2011 financial year, exceeding its benchmark by 4.7 percent. The main contributors to this strong performance were UTA's Australian and European airport investments, which delivered a return of 22.2 percent for the financial year, and UTA's investments in regulated utilities, which delivered a return of 10.9 percent.

In addition to strong and stable returns the portfolio is producing consistent and reliable cash flows. The annual distribution to investors of $138.2 million in July 2011 represents a yield of 6.2 percent for the year (including franking credits). Over the past five years and despite the GFC, UTA's average yield is above 6.0 percent (including franking credits) and its internal rate of return is 11.1 percent per annum compared with its benchmark of 9.5 percent. UTA continues to deliver top quartile performance against its Australian managed unlisted infrastructure fund peers.