CFS selects ClearBridge to advise on infrastructure mandate

Yasmine Raso

Senior Journalist, Financial Newswire

27 November 2024

Colonial First State (CFS) has awarded ClearBridge Investments with the opportunity to sub-advise on a listed infrastructure mandate on its FirstChoice platform.

The CFS fund will reflect the investment principles leveraged by the ClearBridge RARE Infrastructure Value Fund – Hedged, investing in a host of listed infrastructure securities including gas, electricity and water utilities, renewables, toll-roads, airports, rail and communication infrastructure in both the developed and emerging markets.

The ClearBridge fund also received a ‘Highly Recommended’ rating from both Lonsec and Zenith Investment Partners in 2024.

“We are pleased to be awarded this mandate and recognised for our expertise and long-history in managing global listed infrastructure funds,” Head of APAC Business Development at ClearBridge, Matt Bushby, said.

“Representation on the CFS FirstChoice platform will provide additional flexibility for advisers and consultants looking to allocate to ClearBridge’s award winning listed infrastructure funds.”

The ClearBridge strategy borne out of the mandate will take the number of Franklin Templeton-owned strategies on CFS’ FirstChoice platform up to six.

“Investors worldwide are recognising that investing in listed infrastructure companies can provide inflation-linked returns, stable income, and diversification benefits from other asset classes. The ClearBridge Infrastructure team’s collaborative and benchmark unaware investment approach has delivered strong risk adjusted returns to Australian clients over a number of investment cycles since 2006,”  Portfolio Manager Shane Hurst said.

“Furthermore, infrastructure is at the forefront of some of the world’s most powerful mega-trends such as the green transition to a lower-carbon world, climate adaption, energy security, the shortening of supply chains and the digitalisation transformation that now includes the AI revolution.”

“This asset class has the potential for multi-decades of future growth, offering Australian investors attractive risk-adjusted qualities.”