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Aston Hill has cultivated a diverse suite of products spanning sectors, geographies and asset classes in order to deliver funds that meet the varying needs of our investors.

Closed End Funds

Macquarie Emerging Markets Infrastructure Income FundDecember 31, 2016

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The current distribution rate of $0.17 per quarter ($0.68 per annum) is an increase from the previous quarterly distribution of $0.15.

Investment Objectives:

The Fund’s investment objectives are to generate: (a) quarterly distributions initially targeted to be $0.17 per Unit ($0.68 per annum representing an annual cash distribution of 5.0% based on the $12.00 per Combined Unit issue price); and (b) total returns, consisting of dividend income and capital appreciation.

To achieve the Fund’s investment objectives, the net proceeds of the Offering will be invested in a portfolio consisting of infrastructure equity securities issued by entities domiciled in emerging markets.

Highlights:

  • Exposure to the rapidly growing emerging markets infrastructure sector
  • Macquarie Capital Investment Management LLC is a leading portfolio manager in the listed infrastructure sector
  • Income-oriented portfolio of large cap listed infrastructure securities in emerging markets
  • Attractive quarterly distributions

For daily prices, click here.

Performance Review

Performance (%)

As OfCurrent QuarterYTD1 Yr2 Yr3 Yr4 Yr5 yrIncep.
12/31/2016-3.9-2.1-2.1-5.40.5-0.62.72.3

Portfolio Review

Top 10 Holdings

 % of Portfolio
Hutchison Port Holdings Trust8.4
China Merchants Holdings (International) Co. Ltd.8.0
COSCO Pacific Ltd.7.7
Hopewell Highway Infrastructure Ltd.7.1
Prumo Logistica S.A.6.7
CCR S.A. .6.1
EDP - Energias do Brasil S.A China Gas Holdings Ltd.5.9
Inversiones Aguas Metropolitanas S.A.5.5
Yuexiu Transport Infrastructure Ltd.4.1
OHL Mexico, S.A.B. de C.V.4.1

Sector Breakdown

 % of Portfolio
Marine Ports & Services30.8
Highways & Railtracks22.8
Independent Power Producers & Energy Traders12.6
Electric Utilities11.6
Water Utilities8.4
Cash7.5
Renewable Electricity3.3
Multi-Utilities1.1
Oil & Gas Storage & Transportation1.0
Gas Utilities1.0

Geographic Breakdown

 % of Portfolio
China40.1
Brazil18.8
Chile12.7
Singapore8.4
Mexico4.1
Poland2.0
India2.0
SpainĀ 1.4
United States1.1
Canada1.0
Australia1.0

Fund Facts

Class A Units (December 31, 2016)

Tickers:MQA.UN
Yield:7.9%
Closing Price:$9.06
Net Asset Value Per Unit:$8.61
Net Asset Value:$8.8 million
Total Holdings:22
Inception:Feb. 18, 2011

Investments in Macquarie Emerging Markets Infrastructure Income Fund (the “Fund”) are not deposits with or other liabilities of Macquarie Bank Limited ABN 46 008 583 542, or any of its affiliates (collectively, the “Macquarie Group”) and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. No Macquarie Group company guarantees any particular rate of return or the performance of the Fund, the repayment of capital from the Fund or any tax treatment of any distribution from the Fund. You should refer to the prospectus dated January 26, 2011 (the “Prospectus”) of the Fund and other documents filed by the Fund with Canadian securities regulatory authorities, available at www.sedar.com, for further information regarding the Fund. All statements in this update, other than statements of historical fact, and including statements regarding the future economic effects of events, are “forward-looking statements”. These forward-looking statements reflect the current beliefs of the Fund’s portfolio manager and are based on information available to the Fund as of the date of this update. Actual results may differ materially as they are subject to a number of significant risks and uncertainties, including those discussed under “Risk Factors” and elsewhere in the Prospectus. The Fund has no obligation to update or revise the forward-looking statements in this update. Past performance is not a reliable indicator of future results.

Please correct the following errors:

Minimum Investment Requirements

The AHF Credit Opportunities Fund is generally available to investors that can meet a certain minimum amount of money to invest. The minimum initial investment for residents in any province or territory in accordance with applicable securities laws is set out below:

All provinces and territories $125,000 or $25,000(1)
BC, NB, NS and NL Only: $5,000(2)

Notes:

(1) A minimum purchase of $25,000 is available to residents who meet certain requirements.
(2) A minimum purchase of $5,000 is available to residents who meet certain requirements and reside in BC, NB, NS and NL by way of the prescribed OM.
Investors should contact their investment dealer or Financial Advisor for more information.

If you can comfortably invest the minimum dollar amount required in your province or territory, please accept the disclaimer below to learn more about the AHF Credit Opportunities Fund.


Disclaimer: Information pertaining to AHF Credit Opportunities Fund is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units in the AHF Credit Opportunities Fund is made pursuant to its offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility requirements. Please read the offering memorandum carefully before investing.

Minimum Investment Requirements

The Aston Hill Opportunities Fund is generally available to investors that can meet a certain minimum amount of money to invest. The minimum initial investment for residents in any province or territory in accordance with applicable securities laws is set out below:

All provinces and territories $150,000 or $5,000(1)
BC, NB, NS and NL Only: $5,000(2)

Notes:

(1) A minimum purchase of $5,000 is available to residents who meet certain requirements.
(2) A minimum purchase of $5,000 is available to residents who meet certain requirements and reside in BC, NB, NS and NL by way of the prescribed OM.
Investors should contact their investment dealer or Financial Advisor for more information.

If you can comfortably invest the minimum dollar amount required in your province or territory, please accept the disclaimer below to learn more about the Aston Hill Opportunities Fund.


Disclaimer: Information pertaining to Aston Hill Opportunities Fund is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units in the Aston Hill Opportunities Fund is made pursuant to its offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility requirements. Please read the offering memorandum carefully before investing.

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