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Trending ETFs

abrdn Infrastructure Debt Fund

mutual fund
CUGAX
Payout Change
Pending
Price as of:
$8.61 +0.03 +0.35%
primary theme
N/A
share class
A (CUGAX) Instl (AGCIX) Instl (CGFIX)
CUGAX (Mutual Fund)

abrdn Infrastructure Debt Fund

Payout Change
Pending
Price as of:
$8.61 +0.03 +0.35%
primary theme
N/A
share class
A (CUGAX) Instl (AGCIX) Instl (CGFIX)
CUGAX (Mutual Fund)

abrdn Infrastructure Debt Fund

Payout Change
Pending
Price as of:
$8.61 +0.03 +0.35%
primary theme
N/A
share class
A (CUGAX) Instl (AGCIX) Instl (CGFIX)

Name

As of 11/29/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

abrdn Infrastructure Debt Fund

CUGAX | Fund

$8.61

$27.4 M

6.05%

$0.52

1.51%

Vitals

YTD Return

6.1%

1 yr return

9.2%

3 Yr Avg Return

0.0%

5 Yr Avg Return

0.5%

Net Assets

$27.4 M

Holdings in Top 10

38.9%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.51%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 424.59%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/29/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

abrdn Infrastructure Debt Fund

CUGAX | Fund

$8.61

$27.4 M

6.05%

$0.52

1.51%

CUGAX - Profile

Distributions

  • YTD Total Return 6.1%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.31%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    abrdn Infrastructure Debt Fund
  • Fund Family Name
    Aberdeen
  • Inception Date
    Dec 26, 2001
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Katy Forbes

Fund Description

Under normal circumstances, at least 80% of the Fund’s net assets (plus the amount of any borrowings for investment purposes) will be invested in U.S. and non-U.S. infrastructure-related debt issuers and/or securities intended primarily to finance infrastructure-related activities. Infrastructure-related securities include securities issued to finance any assets or projects that support the operation, function, growth or development of a community or economy.
The infrastructure investments in which the Fund may invest include, without limitation, fixed or floating-rate debt instruments, loans or other income-producing instruments issued:
●
by companies or other issuers to finance (or re-finance) the ownership, development, construction, maintenance, renovation, enhancement, or operation of infrastructure assets;
●
by companies or other issuers that invest in, own, lease or hold infrastructure assets; and
●
by companies or other issuers that operate infrastructure assets or provide services, products or raw materials related to the development, construction, maintenance, renovation, enhancement or operation of infrastructure assets.
The Fund may hold instruments issued by a wide range of entities including, among others, operating companies, holding companies, special purpose vehicles, including vehicles created to hold or finance infrastructure assets, municipal issuers, and governments and government agencies, authorities or instrumentalities.
The infrastructure assets to which the Fund may have exposure through its investments include, without limitation, assets related to:
●
transportation (e.g., airports, metro systems, subways, railroads, ports, toll roads);
●
transportation equipment (e.g., shipping, aircraft, railcars, containers);
●
electric utilities and power (e.g., power generation, transmission and distribution);
●
energy (e.g., exploration and production, pipeline, storage, refining and distribution of energy), including renewable energies (e.g., wind, solar, hydro, geothermal);
●
communication networks and equipment;
●
water and sewage treatment;
●
social infrastructure (e.g., health care facilities, government buildings and other public service facilities); and
●
metals, mining, and other resources and services related to infrastructure assets (e.g., cement, chemical companies).
The Fund may invest up to 20% of its assets on non-infrastructure-related securities.
For purposes of the Fund’s 80% policy, debt securities include fixed income securities of any type; however, the Fund intends to invest primarily in municipal debt and corporate debt, with municipal debt comprising no less than 50% of its assets, and typically approximately 60% of its assets.
Generally, the Fund intends to invest in bonds issued by both domestic and foreign issuers, including foreign issuers from emerging market countries. While the Fund’s investments will generally be denominated in U.S. dollars, the Fund may also invest in non-dollar denominated instruments.
The Fund may also invest in securities having a variable or floating interest rate. The Fund may invest in fixed-income securities of any maturity or duration.
Under normal market conditions, the Fund will maintain a weighted average credit rating of “BBB–” or above by Standard & Poor’s Rating Service (“S&P”), or “Baa3” or above by Moody’s Investors Service, Inc. (“Moody’s”), or a comparable rating by another nationally recognized statistical rating organization. Although the Fund typically invests in investment grade
debt, the Fund may also invest in high income producing instruments, rated at the time of purchase below “BBB–” by S&P, or below “Baa3” by Moody’s, or below a comparable rating by another nationally recognized statistical rating organization, or unrated bonds determined by the Adviser to be of comparable quality. Split rate bonds will be considered to have the higher credit rating. The Fund may invest in securities rated in the lowest ratings category or in default (i.e., “junk bonds”, which are speculative).
The Fund’s investments may include bonds that are labeled as social, sustainability or green.
In selecting investments for the Fund, the Adviser and Sub-adviser examine the material risks of an investment across a spectrum of considerations including financial metrics, regional and national conditions and industry specific factors. The Adviser and Sub-adviser will also consider the most material potential ESG (Environmental, Social and Governance) risks and opportunities impacting issuers, where relevant. As ESG information is just one investment consideration, ESG considerations generally are not solely determinative in any investment decision made by the Adviser and Sub-adviser. The materiality of ESG factors to the investment process varies across issuers and instrument types.
In selecting the Fund’s municipal debt securities, the Adviser and Sub-adviser generally look for a wide range of U.S. issuers and securities that provide high current income, including unrated bonds and securities of smaller issuers that offer high current income and might be overlooked by other investors and funds. The Adviser and Sub-adviser also focus on securities with coupon interest or accretion rates, current market interest rates, callability and call prices that might change the effective maturity of particular securities. The Adviser and Sub-adviser may consider selling a security if any of these factors no longer applies to a security purchased for the Fund, but is not required to do so.
In selecting the Fund’s corporate debt securities, the Adviser and Sub-adviser seek to invest in securities of issuers that are expected to exhibit stable to improving credit characteristics based on industry trends, company positioning, and management strategy, taking into account the potential positive impact of any restructurings or other corporate reorganizations.
The Fund may use derivatives under certain market conditions to manage duration and to hedge currency exposure. The Fund expects that derivative instruments will include the purchase and sale of U.S. treasury futures contracts and forward foreign exchange contracts.
All distributions by the Fund, including any distributions derived from tax-exempt municipal obligations, may be includible in taxable income for purposes of the federal alternative minimum tax. The Fund does not seek to provide income exempt from federal income tax.
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CUGAX - Performance

Return Ranking - Trailing

Period CUGAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -73.0% 19.4% 95.34%
1 Yr 9.2% -9.1% 86.9% 73.45%
3 Yr 0.0%* -9.5% 16.2% 38.96%
5 Yr 0.5%* -4.9% 14.4% 43.05%
10 Yr 1.4%* -0.9% 7.5% 68.09%

* Annualized

Return Ranking - Calendar

Period CUGAX Return Category Return Low Category Return High Rank in Category (%)
2023 -4.4% -22.7% 305.1% 20.74%
2022 -10.4% -9.8% 27.3% 58.06%
2021 -6.3% -20.8% 10.9% 35.11%
2020 6.0% -12.4% 29.4% 75.74%
2019 4.0% -10.5% 15.8% 3.14%

Total Return Ranking - Trailing

Period CUGAX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -73.0% 19.4% 95.34%
1 Yr 9.2% -13.4% 86.9% 77.82%
3 Yr 0.0%* -9.5% 16.2% 55.42%
5 Yr 0.5%* -5.3% 14.4% 47.53%
10 Yr 1.4%* -0.9% 7.5% 72.34%

* Annualized

Total Return Ranking - Calendar

Period CUGAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.1% -22.7% 305.1% 21.11%
2022 -10.4% -9.8% 27.3% 59.27%
2021 -2.6% -20.8% 10.9% 47.56%
2020 6.2% -8.4% 29.4% 83.66%
2019 7.1% -10.2% 18.0% 3.14%

NAV & Total Return History

CUGAX - Holdings

Concentration Analysis

CUGAX Category Low Category High CUGAX % Rank
Net Assets 27.4 M 1.5 M 5.01 B 89.30%
Number of Holdings 49 4 4478 40.64%
Net Assets in Top 10 9.29 M -398 M 2.55 B 83.39%
Weighting of Top 10 38.87% 13.1% 100.0% 76.61%

Top 10 Holdings

  1. State of Nevada Department of Business Industry 4.39%
  2. Port Beaumont Navigation District 4.26%
  3. Massachusetts Development Finance Agency 4.26%
  4. Gabon Blue Bond Master Trust Series 2 4.19%
  5. Dutchess County Local Development Corp 4.00%
  6. Illinois Municipal Electric Agency 3.70%
  7. Toledo Hospital/The 3.69%
  8. City of Chicago IL 3.58%
  9. New York Transportation Development Corp 3.44%
  10. California Statewide Communities Development Authority 3.38%

Asset Allocation

Weighting Return Low Return High CUGAX % Rank
Bonds 		99.66% -326.45% 6347.80% 74.91%
Cash 		0.87% -6278.21% 410.43% 9.89%
Convertible Bonds 		0.12% 0.00% 87.92% 99.29%
Stocks 		0.00% -3.75% 97.95% 62.54%
Preferred Stocks 		0.00% -0.12% 46.97% 95.05%
Other 		0.00% -21.53% 148.54% 88.34%

Bond Sector Breakdown

Weighting Return Low Return High CUGAX % Rank
Government 		12.61% 0.00% 84.29% 56.89%
Corporate 		3.48% 0.00% 87.73% 99.29%
Cash & Equivalents 		0.87% 0.27% 100.00% 9.89%
Securitized 		0.00% 0.00% 56.83% 99.29%
Municipal 		0.00% 0.00% 27.33% 99.29%
Derivative 		0.00% 0.00% 88.81% 40.64%

Bond Geographic Breakdown

Weighting Return Low Return High CUGAX % Rank
US 		92.99% -126.19% 6311.18% 77.39%
Non US 		6.67% -382.37% 121.02% 43.11%

CUGAX - Expenses

Operational Fees

CUGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.51% 0.29% 31.15% 28.78%
Management Fee 0.50% 0.00% 2.50% 19.43%
12b-1 Fee 0.25% 0.00% 1.00% 63.51%
Administrative Fee 0.25% 0.01% 0.30% 93.15%

Sales Fees

CUGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 2.50% 5.75% 98.08%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CUGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 35.79%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CUGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 424.59% 0.00% 491.00% 82.66%

CUGAX - Distributions

Dividend Yield Analysis

CUGAX Category Low Category High CUGAX % Rank
Dividend Yield 6.05% 0.00% 4.56% 98.94%

Dividend Distribution Analysis

CUGAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Quarterly Annually

Net Income Ratio Analysis

CUGAX Category Low Category High CUGAX % Rank
Net Income Ratio -0.31% -2.51% 6.83% 56.47%

Capital Gain Distribution Analysis

CUGAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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CUGAX - Fund Manager Analysis

Managers

Katy Forbes

Start Date

Tenure

Tenure Rank

Nov 15, 2019

2.54

2.5%

Katy Forbes is an Investment Director in the Multi-Asset Investing team at Aberdeen Standard Investments. She is a member of the Strategic Investment Group and is a member of the GARS portfolio construction team. She joined the Government bond team in 2008 as a secondary manager on the inflation-linked bond funds and was appointed primary manager of UK inflation-linked funds in 2010. Katy joined Standard Life Investments in 2001 holding various roles on the Treasury team and as Asset and Liability Manager for Standard Life Bank. She holds a BSc (1st class honors) from the University of Edinburgh and is a CFA charterholder.

Scott Smith

Start Date

Tenure

Tenure Rank

Nov 15, 2019

2.54

2.5%

Scott Smith is an Investment Director within Multi-Asset Fund Management at Aberdeen Standard Investments and is a member of the Strategic Investment Group and the GARS portfolio construction team. Scott is also responsible for ensuring that asset allocation views are expressed effectively and consistently across a range of internal and third party funds. Previous experience involved implementation and oversight of derivative-based absolute return strategies across the business. Scott joined Standard Life Investments in 2006 as a performance analyst, working on a broad range of funds covering fixed-interest, equities and property. In 2010 he moved to the Multi-Asset Investing Team. Scott graduated with an MA (Hons) in Economics with Business Economics from University of Glasgow. He also has an MPhil in International Finance and Economic Policy from the University of Glasgow and has the Investment Management Certificate (IMC) and is a CFA Charterholder.

Thomas Maxwell

Start Date

Tenure

Tenure Rank

Aug 25, 2020

1.76

1.8%

Thomas Maxwell is an Investment Director in the Multi-Asset Solutions team at Aberdeen Standard Investments. Thomas is a co-manager of both Global Focused Strategies and the Absolute Return Global Bond Strategies and is a member of the Strategic Investment Group. Prior to joining the Multi-Asset Solutions team in July 2018, Thomas was a portfolio manager within the Credit team for global credit funds, and he had research responsibilities for the financial sector. Thomas joined Standard Life Investments in 2010 as a credit analyst. Thomas graduated with a BA (Hons) from Manchester University, holds the Investment Management Certificate and is a CFA charter holder.

Alistair Veitch

Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Veitch is vice president and investment manager of BlackRock International Ltd. since 1998. Previously, he followed Asian equity markets for Edinburgh Fund Managers.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67

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