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Trending ETFs

ClearBridge Global Infrastructure Income Fund

mutual fund
RGIVX
Payout Change
Pending
Price as of:
$13.51 -0.11 -0.81%
primary theme
Infrastructure Industry Equity
share class
A (RGAVX) I (RGSVX) C (CBGAX) I (RGIVX)
RGIVX (Mutual Fund)

ClearBridge Global Infrastructure Income Fund

Payout Change
Pending
Price as of:
$13.51 -0.11 -0.81%
primary theme
Infrastructure Industry Equity
share class
A (RGAVX) I (RGSVX) C (CBGAX) I (RGIVX)
RGIVX (Mutual Fund)

ClearBridge Global Infrastructure Income Fund

Payout Change
Pending
Price as of:
$13.51 -0.11 -0.81%
primary theme
Infrastructure Industry Equity
share class
A (RGAVX) I (RGSVX) C (CBGAX) I (RGIVX)

Name

As of 10/03/2024

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

ClearBridge Global Infrastructure Income Fund

RGIVX | Fund

$13.51

$141 M

5.61%

$0.76

1.15%

Vitals

YTD Return

11.0%

1 yr return

31.7%

3 Yr Avg Return

4.9%

5 Yr Avg Return

7.9%

Net Assets

$141 M

Holdings in Top 10

41.7%

52 WEEK LOW AND HIGH

$13.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.15%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 86.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

$1,000,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/03/2024

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

ClearBridge Global Infrastructure Income Fund

RGIVX | Fund

$13.51

$141 M

5.61%

$0.76

1.15%

RGIVX - Profile

Distributions

  • YTD Total Return 11.0%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 7.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.24%
DIVIDENDS
  • Dividend Yield 5.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    ClearBridge Global Infrastructure Income Fund
  • Fund Family Name
    Legg Mason
  • Inception Date
    Mar 31, 2016
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nick Langley

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, if any, in securities issued by companies that are engaged in the infrastructure business and other investments with similar economic characteristics.
The subadviser considers companies to be engaged in the infrastructure business if at least 50% or more of their assets, income, sales or profits are committed to, derived from or related to, the construction, renovation, ownership, development, financing, management or operation of infrastructure assets or the provision of raw materials necessary for the construction and maintenance of infrastructure assets. Infrastructure assets include physical structures, networks, developments and projects that communities and economies require to function and grow, including transportation-related infrastructure (airports, roads, railroads, and ports), energy-related infrastructure (gas pipelines, alternative energy and electrical plants), water and sewage infrastructure, communications infrastructure (fiber, copper, wireless and cable networks, broadcast towers and satellites), and social services-related infrastructure (hospitals, healthcare facilities, educational facilities, prisons, sports and entertainment facilities and stadiums) and other resources and services necessary for the construction and maintenance of infrastructure assets. The fund concentrates its investments in companies that are engaged in the infrastructure business.
The fund invests primarily in income paying equity and equity-related securities of exchange-traded infrastructure companies, which may include common stocks, preferred stocks, convertible stocks and other securities convertible into equity securities, publicly-traded units of master limited partnerships (MLPs), and securities of other investment companies, exchange traded funds (ETFs) and real estate investment trusts (REITs).
The fund may invest in companies of any size and market capitalization, including small and mid-capitalization companies. These issuers may be newer or less seasoned companies, including companies making initial public offerings (IPOs). The fund’s portfolio is expected to be highly concentrated, with approximately 30 to 60 holdings.
The fund may seek investment opportunities in any foreign country and may invest a significant portion of its assets in foreign securities. Under normal market conditions, the fund will invest in assets that are tied economically to a minimum of three countries (which may include the United States) and will invest a substantial portion (at least 40%, unless market conditions are deemed to be unfavorable, in which case at least 30%) of its assets in investments tied economically to countries outside of the United States. The fund may invest up to 20% of its assets in securities of companies located in countries with developing or emerging markets. The fund considers an investment to be tied economically to a country if the issuer: (i) has a class of its securities whose principal securities market is in the country; (ii) is organized under the laws of, or has a principal office in, the country, (iii) derives 50% or more of its total revenue or profit from goods produced, sales made or services provided in the country, or (iv) maintains 50% or more of its assets in the country.
The fund may engage in forward foreign currency contracts and may use derivatives such as options and futures contracts to hedge investments or to gain exposure to the market for the underlying investments. Derivative instruments are taken into account when determining compliance with the fund’s 80% policy. It is not anticipated that the fund will hedge currency exposure to non-US dollar denominated investments, but the subadviser reserves the right to do so.
The subadviser uses various quantitative and qualitative measures to analyze global equity securities. The subadviser applies a proprietary screening methodology to develop an investment universe of securities of companies that are engaged in the infrastructure business and provide sustainable income distributions. This process focuses on identifying companies with long term cash flows from regulatory and/or contractual frameworks and where cash flows are believed to be relatively sustainable. The subadviser also focuses on companies that it believes are attractively valued relative to other companies in the same industry or market. Additionally, the quality and potential growth of income distributions are assessed before a company can enter the portfolio. The subadviser may sell a portfolio holding if the anticipated return falls below predetermined required return bands that prompt a review of the portfolio position.
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RGIVX - Performance

Return Ranking - Trailing

Period RGIVX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.0% 1.7% 23.6% 78.00%
1 Yr 31.7% 13.3% 40.3% 53.00%
3 Yr 4.9%* -6.3% 17.3% 54.64%
5 Yr 7.9%* -0.7% 22.0% 7.32%
10 Yr N/A* 2.2% 9.2% N/A

* Annualized

Return Ranking - Calendar

Period RGIVX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.3% -17.5% 30.1% 80.00%
2022 -10.3% -28.1% -3.4% 41.00%
2021 6.8% -28.7% 35.7% 55.79%
2020 7.6% -12.5% 28.8% 10.84%
2019 22.2% 9.9% 33.6% 59.76%

Total Return Ranking - Trailing

Period RGIVX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.0% 1.7% 23.6% 78.00%
1 Yr 31.7% 13.3% 40.3% 53.00%
3 Yr 4.9%* -6.3% 17.3% 54.64%
5 Yr 7.9%* -0.7% 22.0% 7.32%
10 Yr N/A* 2.2% 9.2% N/A

* Annualized

Total Return Ranking - Calendar

Period RGIVX Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% -15.6% 31.0% 58.00%
2022 -6.0% -27.1% -0.5% 24.00%
2021 12.0% -3.5% 36.4% 78.95%
2020 12.2% -11.2% 29.9% 9.64%
2019 26.0% 16.7% 35.3% 74.39%

NAV & Total Return History

RGIVX - Holdings

Concentration Analysis

RGIVX Category Low Category High RGIVX % Rank
Net Assets 141 M 1.83 M 8.77 B 59.00%
Number of Holdings 37 26 233 88.00%
Net Assets in Top 10 46 M 823 K 5.05 B 71.00%
Weighting of Top 10 41.69% 7.6% 62.5% 54.00%

Top 10 Holdings

  1. Entergy Corp 5.27%
  2. NextEra Energy Inc 4.63%
  3. Crown Castle Inc 4.27%
  4. American Tower Corp 4.24%
  5. Union Pacific Corp 3.99%
  6. Redeia Corp SA 3.98%
  7. Enel SpA 3.90%
  8. E.ON SE 3.89%
  9. Pembina Pipeline Corp 3.88%
  10. Dominion Energy Inc 3.63%

Asset Allocation

Weighting Return Low Return High RGIVX % Rank
Stocks 		96.03% 86.92% 101.95% 82.00%
Preferred Stocks 		2.46% 0.00% 2.81% 4.00%
Cash 		2.15% 0.00% 8.05% 49.00%
Other 		0.00% -0.33% 8.99% 86.00%
Convertible Bonds 		0.00% 0.00% 2.46% 87.00%
Bonds 		0.00% 0.00% 6.41% 87.00%

Stock Sector Breakdown

Weighting Return Low Return High RGIVX % Rank
Utilities 		61.89% 3.71% 96.19% 15.00%
Industrials 		21.43% 0.00% 68.24% 55.00%
Energy 		12.16% 0.00% 32.46% 52.00%
Real Estate 		3.91% 0.00% 23.51% 79.00%
Financial Services 		0.35% 0.00% 17.28% 9.00%
Technology 		0.26% 0.00% 25.65% 48.00%
Healthcare 		0.00% 0.00% 6.54% 87.00%
Communication Services 		0.00% 0.00% 27.53% 97.00%
Consumer Defense 		0.00% 0.00% 0.99% 87.00%
Consumer Cyclical 		0.00% 0.00% 10.02% 90.00%
Basic Materials 		0.00% 0.00% 25.54% 91.00%

Stock Geographic Breakdown

Weighting Return Low Return High RGIVX % Rank
Non US 		51.43% 0.00% 97.23% 18.00%
US 		44.59% 2.02% 99.99% 87.00%

RGIVX - Expenses

Operational Fees

RGIVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.15% 0.30% 21.87% 61.00%
Management Fee 0.80% 0.30% 1.00% 43.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

RGIVX 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

RGIVX 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.

RGIVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 86.00% 13.00% 128.00% 94.94%

RGIVX - Distributions

Dividend Yield Analysis

RGIVX Category Low Category High RGIVX % Rank
Dividend Yield 5.61% 0.00% 5.50% 5.00%

Dividend Distribution Analysis

RGIVX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

RGIVX Category Low Category High RGIVX % Rank
Net Income Ratio 4.24% -0.39% 4.38% 2.08%

Capital Gain Distribution Analysis

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

Distributions History

View More +

RGIVX - Fund Manager Analysis

Managers

Nick Langley

Start Date

Tenure

Tenure Rank

Mar 29, 2016

6.18

6.2%

Nick co-manages all Global Infrastructure Strategies. He has 27 years of investment industry experience. Nick co-founded predecessor firm RARE Infrastructure in 2006. Previously, Nick served as Principal of AMP Capital’s Infrastructure Funds Management team, where he was also the CFO of DUET, an ASX-listed investment trust with AUD 5 billion in electricity and gas assets. He was also an Associate Director, Investment Banking, at UBS and Manager, Mergers and Acquisitions, at BZW/ABN AMRO. Nick earned a Bachelor of Laws and a Bachelor of Commerce from the University of Auckland.

Charles Hamieh

Start Date

Tenure

Tenure Rank

Mar 29, 2016

6.18

6.2%

Charles co-manages all Global Infrastructure Strategies. He has 25 years of investment industry experience. Charles joined a predecessor organization in 2010. Previously, he was Director and Senior Analyst, Global Infrastructure Securities, at AMP Capital as well as Director, Infrastructure Securities at Hastings Fund Management. He was also Head of Listed Infrastructure at Challenger Financial Services Group, a Portfolio Manager at AMP Capital Investors and an Analyst and Strategist at HSBC Australia. Charles earned a Bachelor of Economics from the University of Western Sydney.

Shane Hurst

Start Date

Tenure

Tenure Rank

Mar 29, 2016

6.18

6.2%

Shane co-manages all Global Infrastructure Strategies. He has 24 years of investment industry experience. Shane joined a predecessor organization in 2010. Previously, he was Director, Infrastructure Securities, at Hastings Funds Management as well as Portfolio Manager and Investment Analyst at Tribeca Investment Partners and Investment Analyst at AMP Capital Investors. Shane earned a Master of Commerce (Advanced Finance) from the University of New South Wales and a Bachelor of Business from the University of Technology Sydney.

Daniel Chu

Start Date

Tenure

Tenure Rank

Dec 19, 2019

2.45

2.5%

Daniel co-manages the Global Infrastructure Income Strategy. He has 14 years of investment industry experience. Daniel joined a predecessor organization in 2012. Previously, he was an Infrastructure Adviser at KPMG, where he evaluated and executed public-private partnership transactions. He was also an Infrastructure Analyst at ANZ. Daniel earned a Bachelor of Commerce from the University of New South Wales. He is a member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 18.18 5.98 8.08

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