Legg Mason launches currency hedged share class for infrastructure fund
Following the launch of Legg Mason’s IF Rare Global Infrastructure fund, the London-headquartered asset manager now announced the availability of a new sterling hedged share class for the vehicle.
The new fund has so far attracted about £170m (€199m), the new share class is available since August and aims to offer investors exposure to infrastructure equities while mitigating the impact of currency fluctuations.
It is managed by Rare’s co-CEOs and co-CIOs Nick Langley and Richard Elmslie. It focuses solely on the listed infrastructure space, with the majority of assets invested in essential utilities such as water, gas and electricity.
Commenting on the launch, Adam Gent, head of UK Sales at Legg Mason, said: “The fund aims to seek out the best income opportunities from a universe of listed global infrastructure stocks, and currently c.90% of the fund is invested in stocks overseas.”
Rare is an Australia based Infrastructure investor, Legg Mason acquired a majority equity interest in the firm in July 2015.