Legg Mason to launch global infrastructure fund for subsidiary RARE

First onshore product from RARE

Legg Mason is set to unveil an open-ended global listed infrastructure income fund to be managed by its subsidiary RARE Infrastructure, which will sit in its UK onshore fund range (ICVC).

This is the first onshore vehicle to be launched by RARE following the acquisition of the Sydney-based infrastructure specialist by Legg Mason in October 2015. The new fund will invest globally, targeting a high level of income and long-term capital growth, with a yield target of around 5% per annum under current market conditions, and a total return target of G7 inflation +5.5%. The fund will invest in listed infrastructure companies, including those in the energy, utilities, transport, and communications sectors, focusing on firms with a stable return profile that generate a high le...