GLOBAL UTILITIES + INFRASTRUCTURE

Providing both rising income and growth, this portfolio seeks to participate in both the stability and dynamic growth of essential services and infrastructure worldwide. The stability arises from the fact that utilities and infrastructure are in constant demand and continuously generating revenues. The growth is due to expanding populations and demographic shifts that drive more usage. In the developing world, growth arises as economies push toward a developed-world standard of living.

Investment Philosophy

Utility and infrastructure assets provide the framework for economic growth and social development. They are the core and the essence of a modern economy. Growth of the global economy and markets is dependent on the services they provide. Many studies show that we are at the beginning of the largest wave of investment in real productive assets the world has ever seen. We believe utilities that should consistently generate rising revenues and rising dividends are those that are high-quality, low-cost producers; serve territories with a favorable competitive environment; and conservatively exploit new opportunities.

Investment Objective

Our objective is to offer opportunistic growth potential combined with high and stable cash-flow yield with a portfolio that is not highly correlated to the broad equity market. The goal is to provide investors with a current stream of income, growth of income, and growth of the underlying principal.

Composite Inception Date: September 1991
Portfolio Manager: MHI Investment Team

Performance and portfolio information can be obtained by contacting MHI. If you are an advisor/financial professional, you may log on to our Advisor site to obtain this information.