Overview
The Infrastructure Fund (TIF) / The Infrastructure
Fund B (TIFB), aims to consistently deliver above benchmark returns providing
investors with:
• Capital growth complemented by cash yield
• Stable band
of total return
• Moderate
risk profile
by taking influential positions in infrastructure investments.
TIF is a proven open ended unit trust with a
15-year track record of investing in unlisted infrastructure assets.
TIF has consistently occupied the top position in
the Mercer Australian Infrastructure Performance Survey over 5-year and 10-year
periods against other Australian domiciled unlisted infrastructure funds.
Investment in TIF provides exposure to Hastings’
strong market presence and acknowledged leadership in the infrastructure sector
as well as exposure to The Private Capital Group’s important oversight and
governance function.
Performance
Highlights
• A solid investment
return
over 2011/2012 for TIF of 11.3 percent after fees.
• A 21 percent increase in the Fund’s gross
asset value and an 11 percent increase in the Fund’s net asset value supported
by investment activity and strong participation in the Distribution
Reinvestment Plan.
• The Fund’s airport assets continued to
exhibit strong growth with highlights including Queensland Airports Limited and
Perth Airport. The sector’s strong performance was matched by TIF’s investments
in utility assets Freeport LNG and ElectraNet.
• TIF completed the acquisition of an
influential stake in the New Royal Adelaide Hospital project, representing the
first social infrastructure asset in the portfolio.
• TIF acquired a significant stake in the
Sydney Desalination Plant, marking an important milestone as the single biggest
investment undertaken to date.
• The Fund’s investment activity facilitated a
rebalancing of the portfolio, bringing it broadly into line with its long-term
strategic target ranges with respect to revenue risk profile.
*‘After fees’
performance includes fees and expenses charged at the TIF level, but excludes
fees and expenses charged at The Private Capital Group (TPCG)-IU and TPCG-PCU
level, such as the Trustee Fee and TPCG Service Provider Fee.
All figures are as at 30 June 2012.
People &
Boards
Chief Operating Officer:
Peter
Siapikoudis
Boards
The Private Capital Group (TPCG) Board
The
TPCG Board is the unitholder representative independent board which is involved
in all decisions which materially impact the risk and return characteristics
including investment decisions and related party considerations.
Andrew Agnew
Andrew’s career in finance and corporate advisory spans three decades and includes substantial practical international business experience, including building businesses within Asia. Andrew worked as an investment banker in New York, London, Tokyo, Amsterdam, Singapore and Sydney from 1980 with Citibank; 1984 with Schroders Investment Bank; 1986 with NatWest Investment Bank; and from 1996 with ABN AMRO Bank.
Andrew advised and executed Australian Government asset sales, as well as structuring and financing Australian infrastructure funds. Andrew has served on Australian financial industry committees, including being the secretary of the Australian Financial Futures Association and the Chief Advisor to the Council of Authorised Money Market Dealers and was a monthly columnist for the Australian Stock Exchange Journal.
Graduate of Australian Institute of Company Directors.
Bob Henricks
Bob’s background includes experience at executive level in the Electrical, Trade Union, Training and Superannuation Industries. He holds Electrical and Superannuation qualifications.
His current Directorships include the Boards of two superannuation funds. He also assesses electrical qualifications of aspiring immigrants to Australia. Bob’s superannuation experience includes over 25 years chairing Investment Committees.
He is a past Chair of ASFA Qld Industry Funds, and has delivered papers to national and international superannuation conferences. Bob was previously an Alternate Director on TPCG.
Bob Lette (Chairman)
Bob Lette has had a longstanding involvement in the financial services and superannuation sectors. Bob is Chairman of the Building Unions Superannuation Scheme (Queensland) (BUSS (Q)), Queensland’s specialist building and construction superannuation scheme, and has been a Board member since 1985. Bob is a Fellow of the Association of Superannuation Funds of Australia, a member of the Urban Development Institute of Australia, the Australian Institute of Company Directors (AICD) and an associate member of the American Bar Association. Bob is also the President of Tattersall’s Club Brisbane.
Bob sits on the Board of a number of companies, including Queensland Airports Limited, North Queensland Airports Group, Envirogen Pty Limited, Watpac Super Pty Ltd, the publicly listed construction and development company Watpac Limited. Bob is a Solicitor of the Supreme Court of Queensland and High Court of Australia, and until 30 June 2008 was a Partner and now consults to Brisbane law firm, Mullins Lawyers.
Greg Cantor
Greg Cantor has over 37 years’ experience in accounting, finance and investment. He is the CEO/Secretary of the Australian Catholic Superannuation and Retirement Fund and is a Director of the Australian Institute of Superannuation Trustees (AIST). Currently, Greg sits on the Investors Representative Committees (IRC) of the Sustainable Agriculture Fund (SAF), as well as being a member of the Ethics Committee of AMP Capital Investors Responsible Leaders Funds, and the Chairman of the Finance Committee of the Catholic Education Office Sydney.
Greg’s educational qualifications include a Bachelor of Business, CPA, Fellow of The Institute of Chartered Secretaries, AIST and the Association of Superannuation Funds of Australia Limited (ASFA), as well as holding a Diploma in Financial Services (Financial Planning), and is a graduate member of the AICD.
Jon Addison
Jon Addison is the Investment Manager (part-time) of the Meat Industry Employees Superannuation Fund (MIESF). He was previously the Fund Manager (CEO). Jon joined MIESF in June of 1999 and was responsible for the overall management of the Fund.
Jon is also on the Investment Committee of CCSL and holds Board positions with Hawkesbridge Private Equity, Phosphagenics Ltd (Independent Chairman) and African Enterprise Ltd. Jon has over 30 years’ experience in the investment management industry, including wide experience in superannuation.
Kevin Camp
Kevin is a Director of the industry superannuation fund established for the energy industries (Energy Super), with approximately 20 years’ service and is a member of the Investment Committee.
Kevin Camp retired in 2008 after more than 40 years’ service to the electricity supply industry in Queensland. Kevin has participated in multiple investment study tours of the US, the UK, France and Canada. Kevin holds qualifications in Superannuation and Business Management.
Stephen Lam
Stephen Lam has over 25 years’ experience in the funds/investment management industry. He is currently the principal of an independently operated mortgage franchise business of the Australia and New Zealand Banking Group. He was previously the Executive General Manager, Investment Management Advisory at Suncorp Metway Limited.
Prior to that, he was the General Manager and Chief Investment Officer of Suncorp Metway Investment Management Limited. His earlier roles included Director, St George Investments; Managing Director and Chief Investment Officer, Advance Funds Management; and Director, Rothschild Asset Management in Australia and Hong Kong.
Stephen holds a Bachelor of Engineering (First Class Honours) from the University of Queensland, a PhD from Monash University and an Advanced Diploma of Financial Services (Financial Planning) and is a Fellow of the Financial Services Institute of Australasia.
Terry Burke
Terry Burke is the Secretary and a Board member of the Queensland Independent Education and Care Superannuation Trust (QIEC Super). He is also a director of the Queensland Teachers Union Health and Union Shopper Inc. Terry holds a Masters degree in administration and is a Graduate of the AICD.
Terry is the General Secretary of the Queensland Independent Education Union and has an extensive background in organisational development and administration, risk assessment and management and policy development.
Last updated 10 May 2012