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| Total AUM | Avg. PM Years Experience | Years Since Inception |
|---|---|---|
| $3.6B | 26 | 19 |
| YTD | 1 Year | 3 Years | 5 Years | 7 Years | 10 Years | |
|---|---|---|---|---|---|---|
| Gross of Fees | 20.52 | 13.21 | 14.71 | 11.42 | 9.69 | 9.05 |
| Net of Fees | 19.81 | 12.32 | 13.77 | 10.47 | 8.74 | 8.10 |
| OECD G7 CPI +5.5% Index | 6.44 | 8.20 | 8.66 | 9.81 | 8.88 | 8.32 |
| FTSE Global Core Infrastructure 50/50 Net Tax Index | 13.46 | 6.94 | 11.45 | 8.53 | 7.16 | 7.68 |
The Global Infrastructure Value Strategy seeks long-term inflation-linked capital growth over a complete economic cycle.
| Strategy Overview | Global listed infrastructure |
| Benchmark | OECD G7 CPI +5.5% Index |
| Total Strategy AUM | $3.6B |
| Holdings Range | 30-601 |
| Objective | Long-term inflation-linked capital growth over an economic cycle3 |
We believe that by using a longer-term fundamental valuation approach when investing in listed markets through the cycle, significant opportunities arise as listed markets misprice infrastructure assets in the short term.
The Strategy focuses on both regulated and user pays assets
Top-down macroeconomic outlook combined with bottom-up fundamental research undertaken within a rigorous analytical framework
Team of four portfolio managers focused only on infrastructure
| YTD | 1 Year | 3 Years | 5 Years | 7 Years | 10 Years | |
|---|---|---|---|---|---|---|
| Gross of Fees | 20.52 | 13.21 | 14.71 | 11.42 | 9.69 | 9.05 |
| Net of Fees | 19.81 | 12.32 | 13.77 | 10.47 | 8.74 | 8.10 |
| OECD G7 CPI +5.5% Index | 6.44 | 8.20 | 8.66 | 9.81 | 8.88 | 8.32 |
| FTSE Global Core Infrastructure 50/50 Net Tax Index | 13.46 | 6.94 | 11.45 | 8.53 | 7.16 | 7.68 |
The Strategy’s sector weights reflect its high active share approach to stock selection.
| Representative Portfolio | OECD G7 CPI +5.5% Index | FTSE Global Core Infrastructure 50/50 Net Tax Index | |
|---|---|---|---|
| Electric | 49.86 | 0.00 | 0.00 |
| Rail | 10.73 | 0.00 | 0.00 |
| Toll Roads | 8.70 | 0.00 | 0.00 |
| Airports | 8.53 | 0.00 | 0.00 |
| Gas | 6.85 | 0.00 | 0.00 |
| Energy Infrastructure | 6.77 | 0.00 | 0.00 |
| Water | 5.12 | 0.00 | 0.00 |
| Cash | 3.44 | 0.00 | 0.00 |
| Characteristics | Representative Portfolio | OECD G7 CPI +5.5% Index | FTSE Global Core Infrastructure 50/50 Net Tax Index |
|---|---|---|---|
| P/E Ratio (trailing 12 mos.) | 20.1 | - | - |
| P/E Ratio (forward 12 mos.) | 19.3 | - | - |
| Price/Book | 3.5 | - | - |
| EPS Growth Next 3-5 Years (%) | 6.4 | - | - |
| Weighted Median Market Cap ($ bn) | 41.2 | - | - |
| Weighted Average Market Cap ($ bn) | 47.6 | - | - |
| ROE | 15.5 | - | - |
| Dividend Yield | 3.2 | - | - |
| Turnover (trailing 12 mos.) | 42.9 | - | - |
| 10 Year Risk Statistics | Composite vs. OECD G7 CPI +5.5% Index | Composite vs. FTSE Global Core Infrastructure 50/50 Net Tax Index | OECD G7 CPI +5.5% Index | FTSE Global Core Infrastructure 50/50 Net Tax Index |
|---|---|---|---|---|
| Standard Deviation (%) | 14.23 | 14.23 | 0.95 | 13.36 |
| Sharpe Ratio | 0.47 | 0.47 | -- | 0.47 |
| Tracking Error (%) | 4.08 | 14.36 | -- | -- |
| R2 | 0.92 | 0.01 | -- | -- |
| Alpha (%) | 0.39 | 13.22 | -- | -- |
| Beta | 1.02 | -0.97 | -- | -- |
| Characteristics | % of Total Representative Portfolio |
|---|---|
| Entergy Corp | 5.61 |
| Ferrovial SE | 5.27 |
| Severn Trent PLC | 5.12 |
| SSE PLC | 4.64 |
| WEC Energy Group Inc | 4.56 |
| TC Energy Corp | 4.18 |
| NextEra Energy Inc | 4.12 |
| CenterPoint Energy Inc | 3.98 |
| Public Service Enterprise Group Inc | 3.44 |
| Fraport AG Frankfurt Airport Services Worldwide | 3.44 |
| Total | 44.34 |
| Total Number of Holdings | 30 |
1 Source: FactSet. Representative portfolio characteristics, holdings, sector weightings and market cap are based on a representative portfolio and are subject to change at any time. Holdings, sector weightings, market cap and portfolio characteristics of individual client portfolios may differ, sometimes significantly, from those shown. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed. Statistics shown are net of fees.
2 Past performance is no guarantee of future results. See GIPS endnotes. Performance is preliminary and subject to change.
3 There is no guarantee that the Strategy's objective will be met.
P/E ratios are weighted harmonic average. Price/Book is weighted average.
Performance source: Internal. Benchmark source: Standard & Poor’s, OECD.
ClearBridge Investments, LLC claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. ClearBridge Investments, LLC ("ClearBridge") is a wholly owned indirect subsidiary of Franklin Resources, Inc. (“Franklin”). In July 2020 Legg Mason, Inc., its parent company, was purchased by Franklin. The investment advisory business now known as ClearBridge was registered in September 2005 to facilitate Legg Mason's acquisition of substantially all the equity asset management businesses known as Citigroup Asset Management. These former businesses serve as the foundation of ClearBridge and its claim of GIPS compliance for institutional accounts through predecessor firms, effective as of January 1997. In June 2008, ClearBridge combined this business with its retail business to form a single GIPS firm. As of April 1, 2013, January 1, 2016, May 1, 2020, and January 1, 2024 ClearBridge affiliates, Global Currents Investment Management, LLC, ClearBridge, LLC, ClearBridge Investments Limited (f/k/a RARE Infrastructure Limited), and Franklin Bissett Asset Management have become part of the ClearBridge GIPS firm.
The ClearBridge Global Infrastructure Value Composite includes all fully discretionary accounts with no minimum size (prior to Jan 2022 the minimum account size was USD $5m). The portfolios will generally hold between 30-60 different securities across a number of infrastructure sub-sectors such as gas, electricity, water utilities, toll-roads, airports, rail and communication across developed and developing geographic regions. The Composite may use options, futures or other derivatives to reduce risk or gain exposure to the market for the underlying physical investments. The composite name was updated to ClearBridge from RARE in July 2020. ClearBridge has chosen an absolute return, inflation linked benchmark as the most appropriate primary measure against which to evaluate the long term performance of the Composite. This is an accumulation index comprised of the OECD G7 inflation + 5.5% pa. As a secondary measure of comparison, the S&P Global Infrastructure Index, which is designed to track companies from around the world chosen to represent the listed infrastructure industry, is used. To receive a complete list and description of ClearBridge composites and/or a presentation that adheres to the GIPS standards, please contact ClearBridge Institutional Marketing.
Performance source: Internal. Benchmark source: Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®” and “Russell®” are a trademark of the relevant LSE Group companies and are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
