FUND OBJECTIVE

The Pinnacle BNY Mellon Global Infrastructure Yield Fund aims to achieve:

  • returns above the Benchmark over a full market cycle (a period of approximately 5-7 years), and
  • a gross yield target of 6% per annum

KEY FEATURES

The Fund invests primarily in international listed equities, expected to be high yielding, issued by companies in infrastructure related sectors including telecom services, utilities, energy, industrials and materials.

The Fund may not use derivatives and is not permitted to borrow to invest.

Significant Features

The Fund aims to outperform the S&P Global Infrastructure Index (Net) Unhedged over a full cycle of 5-7 years and to achieve a gross yield target of 6% per annum.

The Fund invests in companies that demonstrate high, sustainable dividend yields and dividend growth potential, solid business momentum at an attractive valuation, quality, stability and strong cash flows. The Fund aims to deliver better capital preservation characteristics than the index, with up-market capture strong enough to translate into compelling risk-adjusted returns. It seeks to execute on a rigorous risk-management process that strives to limit macro risk exposures to ensure the vast majority of performance is derived from stock-specific risk.

Further details of the Fund’s investment strategy are set out in the Product Disclosure Statement.

Significant Benefits

Investors will gain access to Bank of New York Mellon Corporation’s investment expertise. In addition, the Fund offers;

  • a high yielding investment and sustainable cash flow focus on a broader opportunity set of infrastructure related assets; and
  • a concentrated global equity portfolio that thoughtfully blends stable cash flow and high growth characteristics, whilst seeking to provide compelling capital preservation and attractive upside participation.

Investment Manager



BNY Mellon Investment Management Australia Ltd ABN 56 102 482 815 (‘BNY Mellon’), based in Sydney, Australia is the Investment Manager to the Fund.

BNY Mellon provides Australian investors access to the full range of The Bank of New York Mellon Corporation’s asset management services. The Bank of New York Mellon Corporation is a global financial services company in its third century of business, has approximately US$1.9 trillion (as at 31 March 2018) in assets under management and is a publicly listed company on the New York Stock Exchange (BK). BNY Mellon is a wholly-owned subsidiary of The Bank of New York Mellon Corporation.

BNY Mellon retains overall responsibility for the investment decisions of the Fund and has appointed BNY Mellon Asset Management North America Corporation (‘BNY Mellon AMNA’) as a sub-investment manager to the fund. BNY Mellon AMNA is a specialist multi-asset investment management firm based in Boston, Massachusetts and is a wholly–owned subsidiary of the Bank of New York Mellon Corporation.

Key Information
  • Legal structure
    Australian registered managed investment scheme
    (Number 627330367)
  • Benchmark
    S&P Global Infrastructure Index (Net) Unhedged
  • Stocks
    Approximately 20 to 40 securities
  • Suggested investment timeframe
    5 years or more
  • Management Fee 1, 2
    1.15% p.a.
  • Buy / Sell spread
    0.15% p.a.
  • Minimum initial investment3
    $25,000
  • Minimum additional investment
    $5,000
  • Distributions
    Quarterly as at 31 March, 30 June, 30 September and 31 December
  • Liquidity
    Every business day in New South Wales, Australia
  • Responsible Entity
    Pinnacle Fund Services Limited
    ABN 29082494362
    AFSL 23831

  • James A. Lydotes
    Managing Director, Senior Portfolio Manager

    James (Jim) is the lead portfolio manager of the Global Infrastructure Dividend Focus Equity and Global Healthcare REIT strategies and a senior research analyst on the Global Equity team, primarily focused on the International Equity and International Small Cap Equity strategies

  • Brock A. Campbell, CFA
    Director, Portfolio Manager 

    Brock is a portfolio manager on the Global Infrastructure Dividend Focus Equity strategy and also serves as a senior research analyst on the Global Research team, covering global utilities and industrials.

  • William J. Adams
    Managing Director, Global Investment Strategist

    William (Bill) is a global investment strategist for BNY Mellon AMNA’s active equity Non-US and Emerging Markets investment disciplines, responsible for communicating the teams’ strategies to clients, prospective clients and consultants, serving as the critical interface between client-facing staff and investment teams

PERFORMANCE

Pinnacle BNY Mellon Global Infrastructure Yield Fund Performance (fees are inclusive of GST and of any applicable reduced input tax credits (‘RITC’))2

Inception date of the Fund was 9 August 2018.

1 month (%) 3 months (%) 1 year (%) Inception (%)
Pinnacle BNY Mellon Global Infrastructure Yield Fund -1.23 -2.06 - -2.49
S&P Global Infrastructure Index Benchmark -1.17 -4.15 - -4.14
Outperformance/underperformance -0.06 2.09 - 1.65

PRICES AND DISTRIBUTIONS

  • Available Platforms

    HUB24, Netwealth

 

1.The management fee is payable to the Responsible Entity, and pays management costs out of the fees it receives. The management fee is calculated on the Fund’s net asset value, reflected in the daily unit price and payable monthly in arrears from the Fund.

2.Fees are inclusive of GST and of any applicable reduced input tax credits (‘RITC’). Refer to Section 6: Fees and costs in Product Disclosure Statement for further information.

3.The Responsible Entity, Pinnacle Fund Services Limited ABN 29 082 494 362 AFSL 238371, has the discretion to accept lower initial investments. Does not apply to IDPS investments.