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Kayne Anderson Renewable Infrastructure Fund
mutual fund
KARRX
Payout Change
Pending
Price as of:
$9.51
-0.01
-0.11%
primary theme
Infrastructure Industry Equity
share class
KARRX (Mutual Fund)
Kayne Anderson Renewable Infrastructure Fund
Payout Change
Pending
Price as of:
$9.51
-0.01
-0.11%
primary theme
Infrastructure Industry Equity
share class
KARRX (Mutual Fund)
Kayne Anderson Renewable Infrastructure Fund
Payout Change
Pending
Price as of:
$9.51
-0.01
-0.11%
primary theme
Infrastructure Industry Equity
share class
Name
As of 12/13/2024Price
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
Vitals
YTD Return
6.9%
1 yr return
6.5%
3 Yr Avg Return
-5.1%
5 Yr Avg Return
N/A
Net Assets
$34.6 M
Holdings in Top 10
49.9%
52 WEEK LOW AND HIGH
$9.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.59%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
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
KARRX - Profile
Distributions
- YTD Total Return 6.9%
- 3 Yr Annualized Total Return -5.1%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.47%
- Dividend Yield 1.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameKayne Anderson Renewable Infrastructure Fund
-
Fund Family NameKayne Anderson
-
Inception DateJul 23, 2020
-
Shares Outstanding198186
-
Share ClassIndividual
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJustin Campeau
Fund Description
The Fund, under normal market conditions, invests at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of renewable infrastructure companies that are involved in business activities related to renewable energy production, storage and transmission. These companies include companies involved in the development, generation, production, transmission, storage and sale of alternative and renewable energy such as solar, wind, biofuels, hydropower, geothermal, nuclear power and hydrogen (“Renewable Infrastructure Companies”). Renewable Infrastructure Companies may also include companies that provide services or are developing technologies that support and facilitate the proliferation of alternative and renewable energy sources. This includes both industrial and technology companies and may includebusinesses related to energy conservation, water infrastructure, conventional power generation and the sale, distribution, transmission and marketing of electricity.
The Adviser selects investments from the universe of companies engaged in owning, operating and developing renewable infrastructure assets around the world. In general, companies that meet the Adviser’s criteria for inclusion either (i) derive the majority of their revenues, as determined by the Adviser, from renewable infrastructure assets or (ii) are investing the majority of their growth capital into renewable infrastructure assets with the intention of renewable infrastructure becoming a significant part of their business. Within the investment universe, security selection is based on fundamental analysis of the company, internal valuation methods, and the projected rate of return from the investment given the level of risk.
The Adviser may sell a security when it no longer meets the criteria for inclusion in the Fund’s investment universe, when the security has met or exceeded its projected rate of return or when a more attractive investment becomes available.
The Fund’s investments in Renewable Infrastructure Companies will typically be in the form of common stocks, but may also include preferred stocks. The Fund may also invest in shares of companies through “new issues” or initial public offerings (“IPOs”). The Fund may use various hedging and other risk management strategies to seek to manage market risks or foreign currency risks. Such hedging strategies would be utilized to seek to protect against possible adverse changes in the market value of securities held in the Fund’s portfolio or foreign currency exchange rates, or to otherwise protect the value of its portfolio. The Fund may execute its hedging and risk management strategy by engaging in a variety of transactions, including swaps or futures contracts on indexes or foreign currencies.
The Fund invests in domestic and foreign securities of Renewable Infrastructure Companies, primarily in securities of companies domiciled in developed market countries, but the Fund may also invest in securities of issuers located in emerging market countries. The Adviser considers emerging market companies to be countries outside of the Organisation for Economic Co-operation and Development (“OECD”) member group. The Fund’s investments in foreign securities include American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), International Depositary Receipts
(“IDRs”), U.S. dollar-denominated foreign securities, and securities and instruments denominated in non-U.S. currencies.
The Fund may invest in securities that are illiquid, thinly traded or subject to special resale restrictions, such as those imposed by Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Rule 144A securities in which the Fund may invest include corporate bonds and unregistered equity securities acquired via a private placement. The Fund is “non-diversified,” meaning that a relatively high percentage of its assets are invested in a limited number of issuers of securities. In addition, the Fund has a policy of concentrating its investments in the renewable energy industry. The Fund intends to be taxed as a regulated investment company (“RIC”) and comply with all RIC-related restrictions.
Distribution Policy: The Fund’s distribution policy is to make distributions no less frequently than quarterly to shareholders. The Fund may, at the discretion of management, target a specific level of quarterly distributions (including any return of capital) from time to time. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the source of a distribution from the Fund is net profit. If the Fund’s distributions include return of capital, a shareholder’s cost basis will be reduced so that a shareholder may be required to pay capital gains even if the sales price is less than the purchase price. For more information about the Fund’s distribution policy, please turn to “Investment Objective, Strategies, Risks and Disclosure of Portfolio Holdings” section in the Fund’s Prospectus.
KARRX - Performance
Return Ranking - Trailing
| Period | KARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.9% | -9.5% | 27.9% | 68.48% |
| 1 Yr | 6.5% | -4.0% | 35.9% | 70.65% |
| 3 Yr | -5.1%* | -11.8% | 16.3% | 89.13% |
| 5 Yr | N/A* | -1.1% | 20.6% | N/A |
| 10 Yr | N/A* | 3.0% | 8.8% | N/A |
* Annualized
Return Ranking - Calendar
| Period | KARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -15.3% | -17.5% | 30.1% | 93.48% |
| 2022 | -14.3% | -28.1% | -3.4% | 80.43% |
| 2021 | N/A | -28.7% | 35.7% | N/A |
| 2020 | N/A | -12.5% | 28.8% | N/A |
| 2019 | N/A | 9.9% | 33.6% | N/A |
Total Return Ranking - Trailing
| Period | KARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.9% | -9.5% | 27.9% | 68.48% |
| 1 Yr | 6.5% | -4.0% | 35.9% | 70.65% |
| 3 Yr | -5.1%* | -11.8% | 16.3% | 89.13% |
| 5 Yr | N/A* | -1.1% | 20.6% | N/A |
| 10 Yr | N/A* | 3.0% | 8.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | KARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -12.5% | -15.6% | 31.0% | 93.48% |
| 2022 | -10.3% | -27.1% | -0.5% | 84.78% |
| 2021 | N/A | -3.5% | 36.4% | N/A |
| 2020 | N/A | -11.2% | 29.9% | N/A |
| 2019 | N/A | 16.7% | 35.3% | N/A |
NAV & Total Return History
KARRX - Holdings
Concentration Analysis
| KARRX | Category Low | Category High | KARRX % Rank | |
|---|---|---|---|---|
| Net Assets | 34.6 M | 1.83 M | 8.77 B | 88.04% |
| Number of Holdings | 37 | 26 | 233 | 84.78% |
| Net Assets in Top 10 | 17.6 M | 823 K | 5.61 B | 81.52% |
| Weighting of Top 10 | 49.92% | 8.2% | 62.5% | 26.09% |
Top 10 Holdings
- National Grid PLC 8.47%
- Iberdrola SA 6.05%
- Xcel Energy Inc 5.02%
- Drax Group PLC 4.90%
- Enel SpA 4.59%
- Siemens Energy AG 4.48%
- PGE Corp 4.33%
- Public Service Enterprise Group Inc 4.15%
- SSE PLC 4.01%
- Brookfield Renewable Partners LP 3.90%
Asset Allocation
| Weighting | Return Low | Return High | KARRX % Rank | |
|---|---|---|---|---|
| Stocks | 96.05% | 86.92% | 101.95% | 80.43% |
| Cash | 3.03% | 0.00% | 8.62% | 18.48% |
| Preferred Stocks | 1.15% | 0.00% | 2.81% | 5.43% |
| Convertible Bonds | 0.00% | 0.00% | 2.46% | 6.52% |
| Bonds | 0.00% | 0.00% | 6.41% | 7.61% |
| Other | -0.19% | -0.22% | 3.96% | 96.74% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | KARRX % Rank | |
|---|---|---|---|---|
| Utilities | 90.56% | 3.71% | 96.19% | 3.26% |
| Industrials | 3.65% | 0.00% | 68.24% | 90.22% |
| Basic Materials | 3.59% | 0.00% | 25.54% | 5.43% |
| Technology | 2.20% | 0.00% | 25.65% | 17.39% |
| Real Estate | 0.00% | 0.00% | 23.51% | 86.96% |
| Healthcare | 0.00% | 0.00% | 6.54% | 11.96% |
| Financial Services | 0.00% | 0.00% | 17.28% | 17.39% |
| Energy | 0.00% | 0.00% | 32.46% | 91.30% |
| Communication Services | 0.00% | 0.00% | 27.53% | 82.61% |
| Consumer Defense | 0.00% | 0.00% | 0.99% | 14.13% |
| Consumer Cyclical | 0.00% | 0.00% | 10.02% | 14.13% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | KARRX % Rank | |
|---|---|---|---|---|
| Non US | 52.38% | 0.00% | 97.95% | 27.17% |
| US | 43.67% | 1.96% | 99.99% | 81.52% |
KARRX - Expenses
Operational Fees
| KARRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.59% | 0.30% | 10.15% | 25.00% |
| Management Fee | 0.85% | 0.30% | 1.00% | 56.52% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 29.55% |
| Administrative Fee | N/A | 0.04% | 0.15% | N/A |
Sales Fees
| KARRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| KARRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
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.
| KARRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 13.00% | 128.00% | 51.61% |
KARRX - Distributions
Dividend Yield Analysis
| KARRX | Category Low | Category High | KARRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.44% | 0.00% | 5.50% | 40.22% |
Dividend Distribution Analysis
| KARRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
| KARRX | Category Low | Category High | KARRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.47% | -0.39% | 4.38% | 92.05% |
Capital Gain Distribution Analysis
| KARRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 01, 2024 | $0.035 | OrdinaryDividend |
| Mar 27, 2024 | $0.010 | OrdinaryDividend |
| Sep 29, 2023 | $0.100 | OrdinaryDividend |
| Jun 30, 2023 | $0.120 | OrdinaryDividend |
| Mar 31, 2023 | $0.083 | OrdinaryDividend |
| Dec 29, 2022 | $0.270 | OrdinaryDividend |
| Dec 16, 2022 | $0.056 | CapitalGainLongTerm |
| Sep 30, 2022 | $0.064 | OrdinaryDividend |
| Jun 30, 2022 | $0.054 | OrdinaryDividend |
| Mar 31, 2022 | $0.030 | OrdinaryDividend |
| Dec 31, 2021 | $0.034 | OrdinaryDividend |
| Dec 17, 2021 | $0.163 | CapitalGainLongTerm |
| Sep 30, 2021 | $0.035 | OrdinaryDividend |
| Jun 30, 2021 | $0.034 | OrdinaryDividend |
| Mar 30, 2021 | $0.030 | OrdinaryDividend |
| Dec 29, 2020 | $0.003 | ReturnOfCapital |
| Dec 29, 2020 | $0.015 | CapitalGainLongTerm |
KARRX - Fund Manager Analysis
Managers
Justin Campeau
Start Date
Tenure
Tenure Rank
Apr 29, 2020
2.09
2.1%
Justin Campeau is a portfolio manager and senior analyst within the energy infrastructure marketable securities group, with a focus on renewable and other energy infrastructure companies. Mr. Campeau has been involved with the firm’s investing activities in listed renewable infrastructure since 2013. During his time at the firm, he has supported investment efforts in energy infrastructure, power & utilities, downstream & refining, coal and mining, and marine transportation. Prior to focusing on marketable securities investments in 2010, Mr. Campeau was an associate in Kayne Anderson’s Houston office, where he supported the Energy & Infrastructure team’s private equity investment activities. Mr. Campeau earned a Bachelor of Commerce from McGill University in 2006.
John Frey
Start Date
Tenure
Tenure Rank
Apr 29, 2020
2.09
2.1%
J.C. Frey is a managing partner and co-founder for Kayne Anderson Capital Advisors’ energy infrastructure marketable securities group. He is also the co-head of the renewable energy infrastructure group. He is responsible for overseeing more than $7 billion in assets consisting of the equity and debt securities of energy infrastructure companies including MLP/midstream, LNG infrastructure and renewable energy infrastructure companies. Mr. Frey joined the Kayne Anderson in 1997 and has held various positions including research analyst, co-portfolio manager and portfolio manager. He has been the portfolio manager of the largest and longest tenured MLP hedge fund, Kayne Anderson MLP Fund, L.P. (KAMLP), since its inception in 2000. He is co-founding partner of Kayne Anderson Fund Advisors and is responsible for public investments Kayne Anderson MLP Investment Company (NYSE: KYN), the largest publicly traded MLP-focused closed-end fund in the market today and for Kayne Anderson Midstream/Energy Fund (NYSE:KMF). Additionally, Mr. Frey manages several other co-mingled partnerships and separate accounts on behalf of a distinguished list of high net worth, family office and institutional clients. Prior to joining Kayne Anderson, Mr. Frey was an audit manager in KPMG Peat Marwick’s financial services group, specializing in banking and finance clients, and loan securitizations. Mr. Frey is a Certified Public Accountant and earned a B.S. in Accounting from Loyola Marymount University in 1990 and a Master of Taxation from the University of Southern California in 1991.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.17 | 18.18 | 5.81 | 8.08 |
