Legg Mason launches global infrastructure income fund

For subsidiary RARE

Legg Mason has launched a global infrastructure income fund to be managed by its Sydney-based specialist subsidiary RARE Infrastructure.

The Legg Mason IF RARE Global Infrastructure Income fund will target a high level of income, expected to be around 5% per annum, and a real total return of G7 inflation plus 5.5% per annum, over a market cycle. It will be run by RARE's co-CEO and CIOs Nick Langley and Richard Elmslie, alongside senior investment analysts and portfolio managers Shane Hurst and David Maywald. The firm said the launch was driven by UK client demand for a high yielding fund with low volatility characteristics. The portfolio will focus solely on the listed infrastructure universe, with arond 30-60 infra...