Infrastructure assets are essential to developing economies because they provide the domestic population with the basic services for both social and economic development. The Macquarie Emerging Markets Infrastructure Fund (the Fund) aims to provide investors with the opportunity to gain exposure to emerging markets infrastructure assets through an experienced investment manager with an established track record in emerging markets investments.
Fund Objective
The Fund adopts a systematic, bottom up, fundamentals-based stock selection approach which is complemented by macro analysis to identify investment trends and risks in order to identify infrastructure securities with superior earnings growth and relatively low business risk in emerging markets
| Fund Name | Macquarie Emerging Markets Infrastructure Fund | |
| Fund Structure | Sub-fund of a Luxembourg SICAV (UCITS III compliant) | |
| Investment Manager | Macquarie Investment Management Limited | |
| Management Company | RBS (Luxembourg) S.A. | |
| Custodian and Central Administration Agent | RBC Dexia Investor Services Bank S. A. | |
| Launch Date | 28 January 2010 | |
| Reference Currency | USD | |
| Subscriptions/Redemptions | Daily | |
| Share Classes | A (Retail) | C (Institutional) |
| Currencies | USD/EUR/CHF | USD/EUR/CHF |
| ISIN | LU0433812293 (A USD) | LU0433812459 (C USD) |
| Bloomberg Code | MAEMMAU LX (A USD) | MAEMMCU LX (C USD) |
| Initial Charge | Up to 5% of subscription money | N/A |
| Management Fee | 1.50% p.a. | 0.90% p.a. |
| Service Fee | 0.30% p.a. | N/A |
| Custodian and Central Administration Agent Fee | Up to 0.40% p.a. | Up to 0.40% p.a. |
| Minimum Subscription Amount | 100 USD/EUR/CHF | 1,000,000 USD/EUR/CHF |
| Minimum Additional Subscription | 100 USD/EUR/CHF | 50,000 USD/EUR/CHF |
| Document | Description |
| Factsheet | Key details and performance of the fund |
| Fund Brochure | Overview of the Fund |
| Prospectus | Key characteristics of Macquarie Funds Solutions |
| Simplified Prospectus | Key characteristics and risks of the Fund |
Annual report
| Document | Description |
| Annual report | Annual report of Macquarie Fund Solutions as per 30 September 2009 |
| Half-year report | Half-year report of Macquarie Fund Solutions as per 31 March 2010 |
Jonathon Ong
 |
The portfolio manager of the Fund is Jonathon Ong. Mr. Ong is a Division Director and Portfolio Manager within Macquarie Funds Group. He has over 14 years of emerging markets investment experience through multiple investment cycles including some extreme market conditions (e.g. Asia financial crisis 1997-1998). Prior to joining Macquarie, Jonathon was the lead portfolio manager for the Credit Suisse US$225 million Emerging Market Telecom Fund, listed on the American Stock Exchange from April 2005 to March 2007. During this time, the Fund outperformed its benchmark, the MSCI EM Telecommunication Index. Prior to that, Jonathon primarily focused on the analysis of infrastructure and development stocks within global emerging markets, including 2 years as dedicated country portfolio manager for an Asia Pacific portfolio. |
David Dali
 |
The co-portfolio manager of the Fund is David Dali who is responsible for the macro-overlay. Mr. Dali is a Division Director and Portfolio Manager with Macquarie Capital Investment Management LLC. He was a founding principal of Globalis Investments, LLC and has over 19 years of Emerging Markets investment experience. Mr. Dali co-founded the Emerging Markets Sales, Trading and Research group at BancBoston Robertson Stephens (“BkB”) in 1995 and managed its extensive and large emerging markets debt and equity proprietary trading books. Prior to joining BkB, Mr. Dali managed a number of emerging markets trading books for Chase Manhattan Bank in New York including its substantial book of Brazilian external debt. |
The value of an investment in the Fund and any income from it may fall as well as rise and investors may not get back the amount originally invested. Past performance is not necessarily a guide to future performance. Particularly if the performance refers to a period of less then 12 months (YTD performance data, Fund launch less than 12 months ago), the performance data is no guide to future performance due to the short comparison period. Potential initial or redemption charges are not reflected in the performance data. Any performance data is shown in the Fund currency and is based on the performance of the A share class. Where Macquarie has expressed views and opinions, these may change. Please refer to the latest relevant Prospectus and the Fund's Simplified Prospectus for more information. The distribution and the offering of funds in certain jurisdictions may be restricted by law. Persons into whose possession this document may come are required to inform themselves about and to comply with any relevant restrictions. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Persons interested in acquiring shares in the Fund should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls; and (iii) any relevant tax consequences. The Fund is not registered under any US securities law, and may not be offered or sold in the USA, its territories or possessions, nor to any US persons. The Fund is not offered for sale in any jurisdiction in which the Fund is not authorised to be publicly sold. The Fund is available only in jurisdictions where its promotion and sale is permitted.
INVESTMENTS IN ANY OF THE SUB-FUNDS OF MACQUARIE FUND SOLUTIONS ARE NOT DEPOSITS WITH OR OTHER LIABILITIES OF MACQUARIE BANK LIMITED OR OF ANY ENTITY IN THE MACQUARIE GROUP AND ARE SUBJECT TO INVESTMENT RISK, INCLUDING POSSIBLE DELAYS IN REPAYMENT AND LOSS OF INCOME AND CAPITAL INVESTED. NEITHER MACQUARIE BANK LIMITED NOR ANY MEMBER COMPANY OF THE MACQUARIE GROUP GUARANTEES ANY PARTICULAR RATE OF RETURN OR THE PERFORMANCE OF ANY OF THE SUB-FUNDS OF MACQUARIE FUND SOLUTIONS, NOR DO THEY GUARANTEE THE REPAYMENT OF CAPITAL FROM ANY OF THE SUBFUNDS OF MACQUARIE FUND SOLUTIONS.
The Macquarie Emerging Markets Infrastructure Fund is a sub-fund of Macquarie Fund Solutions, a Luxembourg SICAV. The Articles, the Prospectus and the Simplified Prospectus as well as the financial reports can be obtained in Germany free of charge at the Information and Paying Agent Deutsche Bank AG, Junghofstraße 5-9, 60311 Frankfurt/Main, Germany and in Austria at the Information and Paying Agent Erste Bank der österreichischen Sparkassen, Graben 21, A-1010 Vienna, Austria.
Representative in Switzerland: ACOLIN Fund Services AG, Stadelhoferstraße 18, CH-8001 Zurich, Switzerland www.acolin.ch. The Articles, the Prospectus and the Simplified Prospectus and the financial reports can be obtained free of charge at the Swiss Representative.
Paying Agent in Switzerland: RBC Dexia Investor Services Bank S.A., Esch-zur-Alzette, Zurich Branch, Badenerstraße 565, CH-8066 Zurich, Switzerland.
Issued and distributed in Austria and Germany by Macquarie Bank International Limited, 1 Ropemaker Street, London EC2Y 9HD. Authorised and regulated by the UK Financial Services Authority.
Distribution in Switzerland by ACOLIN Fund Services AG, Stadelhoferstraße 18, CH-8001 Zurich, Switzerland.