Downside protection while capturing upside


In a year characterised by increased volatility and changes in market leadership, financial markets struggled to generate positive returns.

Listed infrastructure’s defensive characteristics came to the fore in the fourth quarter, but the asset class offers more than low volatility; it offers a broad range of growth opportunities to drive long-term performance.

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The value of investments and the income from them will rise and fall. This will cause the fund price, as well as any income paid by the fund, to fall as well as rise and you may not get back the amount you originally invested.

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The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested.