Centre Global Infrastructure Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
25.9%
1 yr return
36.0%
3 Yr Avg Return
8.8%
5 Yr Avg Return
6.3%
Net Assets
$29.9 M
Holdings in Top 10
46.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.48%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 25.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$250,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DHINX - Profile
Distributions
- YTD Total Return 25.9%
- 3 Yr Annualized Total Return 8.8%
- 5 Yr Annualized Total Return 6.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.10%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameCentre Global Infrastructure Fund
-
Fund Family NameCentre Funds
-
Inception DateJan 29, 2018
-
Shares Outstanding534981
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJames Abate
Fund Description
The investment objective of the Fund is to seek long-term growth of capital and current income. This investment objective may be changed without shareholder approval. The Fund is a diversified fund that will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities issued by U.S. and foreign (non-U.S.) infrastructure-related companies. For this purpose, an “infrastructure-related” company has (i) at least 50% of its assets (excluding cash) consisting of infrastructure assets, or (ii) 50% of its gross income or net profits attributable to, or derived (directly or indirectly) from the ownership, management, construction, development, operation, use, creation or financing of infrastructure assets. “Infrastructure assets” are the physical structures and networks that provide necessary services for society, including, but not limited to, transportation assets (e.g., railroads, toll roads, bridges, tunnels, airports, parking facilities and seaports); utility assets (e.g., electric transmission and distribution lines, power generation facilities, oil, gas and water distribution facilities and related midstream assets, communications networks and satellites, sewage treatment plants and critical internet networks) and social assets (e.g., hospitals, courts, schools, correctional facilities and subsidized housing). The Fund’s 80% investment policy (the “80% Policy”) is a non-fundamental investment policy that may be changed by the Fund upon 60 days’ prior written notice to shareholders. The Fund must comply with the 80% Policy at the time the Fund invests its assets. Accordingly, when the Fund no longer meets the 80% requirement as a result of circumstances beyond its control, such as changes in the value of portfolio holdings, it would not have to sell its holdings, but any new investments it makes would need to be consistent with the 80% Policy.
The remaining 20% of the Fund’s net assets, plus borrowings for investment purposes, may include infrastructure-related debt securities of U.S. and non-U.S. issuers (including municipal, corporate debt obligations and asset-backed securities), energy-related infrastructure companies organized as master limited partnerships (“MLPs”), common stock and convertible securities. The Fund’s common stock investments may consist of exchange-listed equities from companies across various industries, sectors and market capitalizations. The Fund may invest in convertible securities when the attributes of a particular company’s convertible security is superior, in terms of total return (interest or dividends plus capital appreciation), to the common shares of the same company.
Under normal market conditions, the Fund will invest at least 40% of its net assets, plus the amount of any borrowings for investment purposes, in securities of companies organized or located in at least three non-U.S. countries. Although the Fund may invest in emerging market securities without limit, under normal market conditions, the non-U.S. companies in which the Fund currently intends to invest will be organized or located primarily in developed market countries, such as Japan, Spain, Canada, and the United Kingdom. The Fund may also engage in transactions in foreign currencies. The Fund’s investments in securities of foreign issuers may include sponsored or unsponsored depositary receipts for such securities, such as American Depositary Receipts (“ADRs”) (which are typically issued by a U.S. financial institution (a depositary) and evidence ownership interests in a security or a pool of securities issued by a foreign company and deposited with the depositary) and Global Depositary Receipts (“GDRs”) (which are receipts issued outside the U.S., typically by non-U.S. banks and trust companies, and evidence ownership of either foreign or domestic securities).
The Fund intends to generally maintain a fully-invested posture. As such, cash will typically be held to a minimum. However, significant client inflows may temporarily increase cash positions. The Fund may engage in frequent or active trading depending on market conditions, resulting in a high portfolio turnover rate.
In selecting investments for the Fund, the Adviser utilizes a “bottom-up” fundamental stock selection process that the Adviser believes yields a more accurate picture of a company’s intrinsic value. The Adviser analyzes a variety of factors when selecting investments for the Fund, such as a company’s operations, risk profile, growth expectations and valuation of its securities. The Adviser utilizes a disciplined, Economic Value Added1 framework to select investments. The framework focuses on the fundamentals of wealth creation and wealth destruction similar to the way a traditional, long-term focused corporate investor looking at all aspects of the business would assess a company’s value. In the shorter-term, markets often undervalue or overvalue a company’s ability to create or destroy wealth. The framework seeks to identify and exploit these investment opportunities. The approach is designed to capture excess returns when the market price of a stock converges toward the Adviser’s target price.
In determining whether a particular company or security may be a suitable investment for the Fund, the Adviser may focus on any number of different attributes that may include, without limitation: the company’s ability to generate favorable returns in light of current growth prospects, market position and expertise, brand value, pricing power, measures of financial strength (e.g., strong balance sheet), profit margin changes, return on capital improvement, sustainability of revenue growth, ability to generate cash flow, strong management, commitment to shareholders interests, dividends or current income, market share gains, innovation and reinvestment, corporate governance and other indications that a company or a security may be an attractive investment. Lastly, the Adviser integrates security selection with appropriate stock position sizing (determining the appropriate percentage of the Fund’s assets to commit to a particular investment) in order to maximize return relative to risk. The Adviser may sell or reduce the Fund’s position in a security when the facts or analysis surrounding the reason to originally invest in the security have changed, such as a change in general market conditions, or in response to redemptions of Fund shares.
1 | Economic Value Added (EVA) is an estimate of a company’s economic profit. Economic profit, which refers to the profit earned by a company, minus the cost of financing the company’s capital, is an amount that may be considered in the assessment of a company’s overall value. |
DHINX - Performance
Return Ranking - Trailing
Period | DHINX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 25.9% | -3.7% | 23.2% | 3.19% |
1 Yr | 36.0% | 7.3% | 42.3% | 3.19% |
3 Yr | 8.8%* | -11.4% | 14.8% | 3.19% |
5 Yr | 6.3%* | -1.8% | 20.2% | 22.37% |
10 Yr | N/A* | 2.1% | 8.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | DHINX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.6% | -17.5% | 30.1% | 31.91% |
2022 | -5.0% | -28.1% | -3.4% | 3.19% |
2021 | 5.8% | -28.7% | 35.7% | 77.53% |
2020 | -9.6% | -12.5% | 28.8% | 90.91% |
2019 | 22.1% | 9.9% | 33.6% | 60.53% |
Total Return Ranking - Trailing
Period | DHINX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 25.9% | -3.7% | 23.2% | 3.19% |
1 Yr | 36.0% | 7.3% | 42.3% | 3.19% |
3 Yr | 8.8%* | -11.4% | 14.8% | 3.19% |
5 Yr | 6.3%* | -1.8% | 20.2% | 22.37% |
10 Yr | N/A* | 2.1% | 8.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DHINX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.9% | -15.6% | 31.0% | 30.85% |
2022 | -2.9% | -27.1% | -0.5% | 5.32% |
2021 | 8.6% | -3.5% | 36.4% | 87.64% |
2020 | -7.0% | -11.2% | 29.9% | 96.10% |
2019 | 25.4% | 16.7% | 35.3% | 77.63% |
NAV & Total Return History
DHINX - Holdings
Concentration Analysis
DHINX | Category Low | Category High | DHINX % Rank | |
---|---|---|---|---|
Net Assets | 29.9 M | 1.83 M | 8.77 B | 90.43% |
Number of Holdings | 45 | 26 | 233 | 56.38% |
Net Assets in Top 10 | 13.2 M | 823 K | 5.05 B | 89.36% |
Weighting of Top 10 | 46.67% | 7.6% | 62.5% | 37.23% |
Top 10 Holdings
- Verizon Communications, Inc. 7.20%
- ATT, Inc. 5.68%
- Enbridge, Inc. 5.58%
- HCA Healthcare, Inc. 4.80%
- Kinder Morgan, Inc. 4.53%
- T-Mobile US, Inc. 4.16%
- The Williams Cos., Inc. 4.14%
- ONEOK, Inc. 3.77%
- Deutsche Telekom AG 3.42%
- NextEra Energy, Inc. 3.40%
Asset Allocation
Weighting | Return Low | Return High | DHINX % Rank | |
---|---|---|---|---|
Stocks | 97.61% | 86.92% | 101.95% | 61.70% |
Cash | 2.39% | 0.00% | 8.05% | 35.11% |
Preferred Stocks | 0.00% | 0.00% | 2.81% | 40.43% |
Other | 0.00% | -0.33% | 8.99% | 53.19% |
Convertible Bonds | 0.00% | 0.00% | 2.46% | 37.23% |
Bonds | 0.00% | 0.00% | 6.41% | 38.30% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DHINX % Rank | |
---|---|---|---|---|
Energy | 32.40% | 0.00% | 32.46% | 2.13% |
Utilities | 28.15% | 3.71% | 96.19% | 89.36% |
Communication Services | 27.53% | 0.00% | 27.53% | 1.06% |
Healthcare | 6.54% | 0.00% | 6.54% | 1.06% |
Industrials | 5.39% | 0.00% | 68.24% | 88.30% |
Technology | 0.00% | 0.00% | 25.65% | 69.15% |
Real Estate | 0.00% | 0.00% | 23.51% | 90.43% |
Financial Services | 0.00% | 0.00% | 17.28% | 43.62% |
Consumer Defense | 0.00% | 0.00% | 0.99% | 40.43% |
Consumer Cyclical | 0.00% | 0.00% | 10.02% | 41.49% |
Basic Materials | 0.00% | 0.00% | 25.54% | 52.13% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DHINX % Rank | |
---|---|---|---|---|
US | 59.82% | 2.02% | 99.99% | 8.51% |
Non US | 37.79% | 0.00% | 97.23% | 91.49% |
DHINX - Expenses
Operational Fees
DHINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.48% | 0.30% | 10.15% | 30.85% |
Management Fee | 0.85% | 0.30% | 1.00% | 62.77% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.04% | 0.15% | N/A |
Sales Fees
DHINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 4.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
DHINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 2.00% | 2.00% | 20.00% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DHINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 25.00% | 13.00% | 128.00% | 8.22% |
DHINX - Distributions
Dividend Yield Analysis
DHINX | Category Low | Category High | DHINX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.63% | 0.00% | 5.50% | 35.11% |
Dividend Distribution Analysis
DHINX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Quarterly | SemiAnnual |
Net Income Ratio Analysis
DHINX | Category Low | Category High | DHINX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.10% | -0.39% | 4.38% | 22.22% |
Capital Gain Distribution Analysis
DHINX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 29, 2024 | $0.057 | OrdinaryDividend |
Sep 26, 2024 | $0.020 | OrdinaryDividend |
Aug 27, 2024 | $0.020 | OrdinaryDividend |
Apr 26, 2024 | $0.048 | OrdinaryDividend |
Mar 27, 2024 | $0.028 | OrdinaryDividend |
Feb 27, 2024 | $0.007 | OrdinaryDividend |
Jan 26, 2024 | $0.040 | OrdinaryDividend |
Dec 28, 2023 | $0.016 | OrdinaryDividend |
Nov 29, 2023 | $0.012 | OrdinaryDividend |
Oct 26, 2023 | $0.020 | OrdinaryDividend |
Sep 28, 2023 | $0.015 | OrdinaryDividend |
Aug 30, 2023 | $0.010 | OrdinaryDividend |
Jul 28, 2023 | $0.034 | OrdinaryDividend |
Jun 29, 2023 | $0.027 | OrdinaryDividend |
May 26, 2023 | $0.019 | OrdinaryDividend |
Apr 27, 2023 | $0.026 | OrdinaryDividend |
Mar 30, 2023 | $0.022 | OrdinaryDividend |
Feb 24, 2023 | $0.007 | OrdinaryDividend |
Jan 27, 2023 | $0.007 | OrdinaryDividend |
Dec 28, 2022 | $0.006 | OrdinaryDividend |
Nov 29, 2022 | $0.008 | OrdinaryDividend |
Oct 28, 2022 | $0.021 | OrdinaryDividend |
Sep 29, 2022 | $0.020 | OrdinaryDividend |
Aug 30, 2022 | $0.006 | OrdinaryDividend |
Jul 28, 2022 | $0.028 | OrdinaryDividend |
Jun 29, 2022 | $0.023 | OrdinaryDividend |
May 27, 2022 | $0.020 | OrdinaryDividend |
Apr 28, 2022 | $0.028 | OrdinaryDividend |
Mar 30, 2022 | $0.023 | OrdinaryDividend |
Feb 25, 2022 | $0.008 | OrdinaryDividend |
Jan 28, 2022 | $0.034 | OrdinaryDividend |
Dec 29, 2021 | $0.013 | OrdinaryDividend |
Nov 29, 2021 | $0.010 | OrdinaryDividend |
Oct 28, 2021 | $0.065 | OrdinaryDividend |
Sep 29, 2021 | $0.027 | OrdinaryDividend |
Aug 30, 2021 | $0.006 | OrdinaryDividend |
Jul 29, 2021 | $0.037 | OrdinaryDividend |
Jun 29, 2021 | $0.027 | OrdinaryDividend |
May 27, 2021 | $0.023 | OrdinaryDividend |
Apr 29, 2021 | $0.017 | OrdinaryDividend |
Mar 30, 2021 | $0.020 | OrdinaryDividend |
Feb 25, 2021 | $0.009 | OrdinaryDividend |
Jan 28, 2021 | $0.018 | OrdinaryDividend |
Dec 30, 2020 | $0.023 | OrdinaryDividend |
Nov 27, 2020 | $0.008 | OrdinaryDividend |
Oct 29, 2020 | $0.010 | OrdinaryDividend |
Sep 29, 2020 | $0.024 | OrdinaryDividend |
Aug 28, 2020 | $0.014 | OrdinaryDividend |
Jul 30, 2020 | $0.033 | OrdinaryDividend |
Jun 29, 2020 | $0.035 | OrdinaryDividend |
May 28, 2020 | $0.019 | OrdinaryDividend |
Apr 29, 2020 | $0.012 | OrdinaryDividend |
Mar 30, 2020 | $0.042 | OrdinaryDividend |
Feb 27, 2020 | $0.015 | OrdinaryDividend |
Jan 30, 2020 | $0.024 | OrdinaryDividend |
Dec 30, 2019 | $0.040 | OrdinaryDividend |
Nov 27, 2019 | $0.017 | OrdinaryDividend |
Oct 30, 2019 | $0.012 | OrdinaryDividend |
Sep 27, 2019 | $0.017 | OrdinaryDividend |
Aug 29, 2019 | $0.026 | OrdinaryDividend |
Jul 17, 2019 | $0.026 | OrdinaryDividend |
Jun 27, 2019 | $0.027 | OrdinaryDividend |
May 30, 2019 | $0.038 | OrdinaryDividend |
Apr 29, 2019 | $0.026 | OrdinaryDividend |
Mar 28, 2019 | $0.014 | OrdinaryDividend |
Feb 27, 2019 | $0.013 | OrdinaryDividend |
Jan 30, 2019 | $0.015 | OrdinaryDividend |
Dec 28, 2018 | $0.035 | OrdinaryDividend |
Nov 29, 2018 | $0.018 | OrdinaryDividend |
Oct 30, 2018 | $0.023 | OrdinaryDividend |
Aug 21, 2018 | $0.096 | CapitalGainLongTerm |
Aug 21, 2018 | $0.020 | OrdinaryDividend |
Jul 30, 2018 | $0.021 | OrdinaryDividend |
Jun 28, 2018 | $0.083 | OrdinaryDividend |
Mar 28, 2018 | $0.030 | OrdinaryDividend |
DHINX - Fund Manager Analysis
Managers
James Abate
Start Date
Tenure
Tenure Rank
Jan 29, 2018
4.34
4.3%
James A. Abate, MBA, CPA, CFA, is the Managing Director and Chief Investment Officer of Centre Asset Management and is responsible for the firm's American Select Equity and Global Listed Infrastructure strategies. Prior to founding Centre, he was US Investment Director for GAM. Previously, he served as Managing Director/Fund Manager at Credit Suisse Asset Management responsible for the US Select Equity strategy and the firm's global sector funds. Previously, he was a Manager in Price Waterhouse's Valuation/Corporate Finance Group and also served as a commissioned officer in the US Army.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.17 | 18.18 | 5.83 | 8.08 |