The Infrastructure Fund

The Infrastructure Fund (TIF) was established by Gardior with the support of its founding shareholders and investors in June 1998. Hastings was appointed the Manager of the Fund in July 2000. TIF is a proven open-ended infrastructure investment fund with a quality infrastructure asset portfolio that has consistently outperformed its benchmark and its peers. TIF’s portfolio strategy and construction approach is based on incorporating long-term weightings across different revenue risk profiles and asset maturities.  Gardior acts as trustee with an independent investor representative Board that provides TIF with an additional layer of oversight, transparency, alignment and governance. Under the guidance of both Hastings and Gardior, TIF has produced above benchmark returns since inception.
  

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TIF market sector diversification as at 31 December 2016.

WHY INVEST IN TIF?

  • ​Unique investor governance model through Gardior Board of Directors
  • Exposure to a core-plus fund that exhibits downside protection and growth potential
  • Superior historical risk-adjusted returns with an absolute benchmark return of 10 percent
  • Inflation protection and low volatility of returns with low correlation of returns to other markets and changes in economic cycles
  • Access to specialised infrastructure investment personnel with more than 20 years of proprietary infrastructure information
  • Capital growth complemented by cash yield

TIF FUND PROFILE

 
Feature
Description

Established

1998


Net Asset Value

 A$1.75 billion as at 31 December 2016


Return Objective

To achieve a target return of 10 percent per annum after fees and expenses


Investment Strategy

Core-plus investment strategy 


Fund Structure

Open-ended


Unit Pricing and Valuations

Monthly


Number of Infrastructure Investments

11

TIF is not open to US investors

ASSETS

PERTH AIRPORT

Perth Airport is Australia’s fourth-largest airport in terms of passenger traffic, and is the principal... Read More

QUEENSLAND AIRPORTS LIMITED

Queensland Airports Limited owns and operates four airports serving regional Queensland and northern New... Read More

NORTH QUEENSLAND AIRPORTS

 

North Queensland Airports owns and operates Cairns International Airport and Mackay Airport in Queensland... Read More

PORTERBROOK

Porterbrook is one of the three major rolling stock companies operating in the United Kingdom (UK). Porterbrook... Read More

PORT OF NEWCASTLE

The Port of Newcastle is the world’s largest coal export port by capacity, as the principal gateway... Read More

NEW ROYAL ADELAIDE HOSPITAL

South Australian Health Partnership (SAHP) was selected in June 2011 by the South Australian... Read More

STATE HIGHWAY 130 SEGMENTS 5&6

State Highway 130 (SH130) Segments 5&6 is a 41-mile toll road in central Texas. SH130 Concession... Read More

BALLARAT WATER

 

Ballarat Water owns six water-treatment plants in and around Ballarat in central Victoria. The... Read More

ELECTRANET

ElectraNet operates and manages the regulated electricity transmission network throughout South Australia.... Read More

SOUTHWEST GENERATION

Southwest Generation operates eight gas-fired power generation facilities in... Read More

SYDNEY DESALINATION PLANT

Sydney Desalination Plant is one of the largest desalination plants in the world with a nameplate capacity... Read More

PORTFOLIO MANAGEMENT TEAM

Team Member

Matt Lorback

Portfolio Manager of The Infrastructure Fund

Matt Lorback joined Hastings in March 2007 and has more than 13 years of experience in infrastructure investing.  Matt is the Portfolio Manager for The Infrastructure Fund and has held a variety of portfolio and asset management roles, including working with the Utilities Trust of Australia's Portfolio Management team at Hastings.   Prior to joining the portfolio management team, Matt was Hastings' airport sector expert.  Matt is currently a director of Perth Airport, and has also been a director of Queensland Airports Ltd (QAL) and North Queensland Airports (NQA). His recent transaction experience includes follow-on investments in Perth Airport, Queensland Airports Limited, Australian Pacific Airports Corporation (Melbourne and Launceston Airports), and the acquisition of North Queensland Airports (Cairns and Mackay Airports). Prior to joining Hastings, Matthew was a senior executive in Corporate Finance (Valuations) at KPMG where he specialised in the valuation of infrastructure assets. Matthew holds a Bachelor of Commerce from the University of Melbourne and a Graduate Diploma in Applied Finance and Investment from the Financial Services Institute of Australasia and is a member of the Australian Institute of Company Directors. 

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Team Member

Nick Riordan

Associate Director

Nick joined Hastings in 2014 and has 14 years of relevant experience. Nick is a member of the Portfolio Management team with responsibilities for The Infrastructure Fund (TIF). Nick is also the asset management analyst responsible for Queensland Airports Limited, a key investment within the TIF portfolio.  Prior to joining Hastings, Nick spent over six years working for Federation Centres (formerly Centro Properties Group) in various funds management roles. Key experience included four years working on the listed entity Centro Retail Trust comprising portfolio management of the fund’s Australian and US portfolio and direct involvement in refinancing and restructuring transactions.  Nick has a Bachelor of Commerce from The University of Melbourne and is also a CFA charterholder. 

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GARDIOR BOARD MEMBERS

Team Member

Bob Lette

Chairman

Bob Lette has had a longstanding involvement in the financial services and superannuation sectors. Bob is Chairman of the Building Unions Superannuation Scheme (Queensland) (BUSS(Q)), Queensland’s specialist building and construction superannuation scheme, and has been a Board member since 1985. Bob is a Fellow of the Association of Superannuation Funds of Australia and a member of the Australian Institute of Company Directors. Bob sits on the Board of a number of companies including Queensland Airports Limited and North Queensland Airports Group. Bob is a Solicitor of the Supreme Court of Queensland and High Court of Australia, and until 30 June 2008 was a Partner and now consults to Brisbane
law firm, Mullins Lawyers.

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Team Member

Jon Addison

Director

Jon Addison is a former investment consultant for the Meat Industry Employees Superannuation Fund (MIESF). He was previously the Fund Manager (CEO). Jon joined MIESF in June of 1999 and was responsible for the overall management of the Fund. Jon is currently a member of the Investment Committee of The Trust Company (Superannuation) Limited & CCSL Limited and holds Board positions with Hawkesbridge Private Capital (where he is Chairman of the Audit Committee and remuneration Committees and also Chairs the Investment committee for the Real Estate Debt Fund).  He is international Chairman of African Enterprise International Ltd and is Chairman of Global Masters Fund Ltd, an ASX listed investment company and a Director of Athelney Trust Plc. Jon has over 30 years of experience in the investment management industry, including wide experience in superannuation.

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Team Member

Andrew Agnew

Director

Andrew has over 30 years of financial services, insurance and risk management experience including over 15 years in senior management roles & 10 years serving at Board level across a number of financial institutions & infrastructure companies. Andrew worked as an investment banker in New York, London, Tokyo, Amsterdam, Singapore and Sydney from 1980 with Citibank; 1984 with Schroders Investment Bank; 1986 with NatWest Investment Bank and from 1996 with ABN AMRO Bank. Andrew advised and executed Australian government asset sales as well as structuring and financing Australian infrastructure funds. Andrew has served on Australian financial industry committees including being the secretary of the Australian Financial Futures Association and the Chief Advisor to the Council of Authorised Money Market Dealers and was a monthly columnist for the Australian Stock Exchange Journal. 
Andrew is currently also a Director on the Board of the world’s second largest chemical tank terminal operator, LBC Tank Terminals NV, and is a Director of Queensland Airports Limited and is a graduate of Australian Institute of Company Directors.

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Team Member

Nick Basile

Director

Nick is a senior investment professional, having over 30 years of financial services and investment management experience in a range of senior roles. His experience and knowledge spans the broad spectrum of asset classes, across multiple investment processes and styles and their application to investment and risk management strategies to meet client objectives. Nick is currently the Chief Investment Officer of the Suncorp Group where he is responsible for providing advice and implementing investment solutions relating to asset allocation, manager selection and mandates for Suncorp’s circa $20 billion in Funds under Management. 
Nick is a Graduate of the Australian Institute of Company Directors (GAICD), Senior Associate of Financial Services Institute of Australasia (SAFin) and Associate of the Institute of Actuaries of Australia (AIAA).

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Team Member

Terry Burke

Director

Terry Burke is the Chair and a Board member of the Queensland Independent Education and Care Superannuation Trust (QIEC Super). He is also a director of Queensland Teachers Union Health. Terry holds a Masters degree in administration and is a Graduate of the AICD. Terry is the General Secretary of the Queensland Independent Education Union and has an extensive background in organisational development and administration, risk assessment and management, strategic and policy development. Terry is the current Chairman of the Risk, Audit and Compliance Committee of Gardior.

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Team Member

Ian Gillings

Director

Ian has been a Gardior Director since June 2016 and represents the Australian Catholic Superannuation & Retirement Fund.  Ian’s career in infrastructure finance and advisory spans three decades and includes substantial domestic and international experience, including the development and investment in major energy, transport and utility projects.  He worked as an investment banker based in Sydney from 1980 to 1988 for Chase, Bank of America, Swiss Bank-DBSM and ANZ.  From 1998 through to 2007 he was a Partner and Principal of Anderson and Booz Allen with responsibility  for providing infrastructure strategy and investment advice to government departments and the private sector.  Ian has advised and executed Australian and State government asset sales as well as structuring and financing infrastructure funds in Australia, Asia and MENA. Ian has led project finance and global consulting teams and has and has been an in-house infrastructure advisor for major developers including Leighton and Mitsubishi.  Ian is currently an advisor to Infrastructure NSW, several mining developers and global engineering consultancies.  He holds a Bachelor of Arts (Finance & Economics) and Bachelor of Law degrees from Macquarie University and is an Associate of the Australian Institute of Company Directors (GAICD).

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Team Member

Craig Stevens

Director

Craig is the Chief Executive Officer of AustSafe Super, the industry super fund for rural and regional Australia. He is an experienced and effective leader with a career that spans more than 30 years in the financial services industry with extensive experience in superannuation, group risk and investment management. Craig has strong skills in business strategy development and deployment, relationship management, operations and corporate and fund governance and is a member of the Economic Society of Australia (Qld) Inc and Australian Institute of Company Directors.  Craig served as an alternate Director on the Board of Gardior from 10 February 2010 until his appointment on 1 January 2016 as a Director. Craig is a passionate supporter of industry super funds and serves on a number of Boards and committees including; Industry Funds Forum (IFF), Home Hub Hills Investors Committee,  AM60 Pty Ltd, Industry Super Australia Advertising Campaign (ISA) and Trinity Funds Management Investor Representative Committee.

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Team Member

Mark Williamson

Director

Mark is the Chairman of Energy Super, one of the leading superannuation funds for employees of the energy industry. Mark is an experienced director who has served on the boards of a number of leading Australian companies, as well as held senior executive roles in the energy, information technology, telecommunication and airline industries, both within Australia and overseas. Mark currently serves on the Board of CS Energy Ltd, Transmax Pty Ltd and is a Deputy Chair of ESIFS Pty Ltd. 

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