- Delivered in excess of its 5% annual yield objective
- Grown assets to over £500m
- Outperformance of FTSE All Share of 26.5% since launch with lower volatility
- Portfolio of real infrastructure assets has proved resilient during the COVID-19 pandemic
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London 7 December 2020: Foresight Group LLP (“Foresight”), a leading independent infrastructure and private equity investment manager, recently celebrated the three-year anniversary of its FP Foresight UK Infrastructure Income Fund (“FIIF” or “the Fund”) which has delivered exceptional performance.
Total return on the three years to 4 December 2020 was 28.14%, outperforming the FTSE All Share by 26.51% (1.63% return from FTSE All Share over same period), during one of the most volatile and unpredictable periods of recent market history. During 2020, the fund has outperformed the FTSE All Share by 7.45% with lower drawdown and volatility, as well as low equity correlation. In each of the first three years of the Fund’s life, FIIF has delivered in excess of its 5% yield objective as well as strong capital performance.
Managed by the award-winning Foresight Capital Management team (“FCM”), the Fund has proven highly resilient during COVID-related lockdowns and disruption, driven by its exposure to real infrastructure assets that provide essential services that enable the economy to function.
With revenues from infrastructure assets for the most part uncorrelated to equity markets and, in many cases, index-linked offering a degree of inflation protection, the Fund is well positioned to benefit from promising developments and innovations in several infrastructure subsectors. Many of the funds and companies which the Fund invests in are actively ramping up expansion into assets such as 5G enabling digital infrastructure, electric vehicle infrastructure, energy transmission and storage. The overall investable universe for the fund is expanding at pace as new companies list in the UK, with increasingly strong government support for ambitious infrastructure investment in the coming years.
Mark Brennan, Lead Fund Manager and Head of Investments at Foresight Capital Management, commented: “The income and diversification benefits of infrastructure have been proven over the first 3 years of the Fund’s life, with performance materially outstripping the UK equity market with lower volatility and correlation. As we step into 2021, the opportunity for UK infrastructure investment has rarely looked more positive, with firm Government policy backing progress towards Net Zero as well as more investment in enhanced social and economic infrastructure.”
For more information contact:
Citigate Dewe Rogerson (PR to Foresight):
Patricia De Bidegain: firstname.lastname@example.org / +44 (0) 7921 353 825
Will Easton: email@example.com / +44 (0) 7860 753146
NOTES FOR EDITORS
About Foresight Capital Management (“FCM”):
FCM was set up in 2017 as a division of Foresight Group LLP, the specialist infrastructure and private equity investment manager, to manage Open Ended Investment Companies (“OEICs”). FCM’s OEIC portfolio currently comprises the FP Foresight UK Infrastructure Income Fund (FIIF) launched in December 2017, the FP Foresight Global Real Infrastructure Fund (GRIF), launched in June 2019 and the FP Foresight Sustainable Real Estate Securities Fund (REF), launched in June 2020.
FCM was named ‘Fund Manager of the Year’ at the PLC Awards 2018 in respect of the outstanding debut performance of FIIF.
About Foresight Group LLP (“Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 36 years.
Foresight has over £6.5 billion of Assets Under Management, across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs), Inheritance Tax Solutions using Business Relief (BR) and Open-Ended Investment Companies (OEICs), of which £3.8 billion relates to renewable energy infrastructure. It currently manages more than 290 renewable generation assets globally, with a total generating capacity of 2.7GW.
Foresight manages more than 160 solar plants around the World generating over 1.5GW of solar power. Foresight has more than 800MW of wind generation assets across the UK, France, Spain, Germany and Sweden of which 665MW are operational.
Foresight manages more than 40 bioenergy and waste projects processing some 1.8 million tonnes of waste every year, having mobilised more than £1 billion of capital investment into the sector. In addition, Foresight manages 210MW of Reserve Power assets and three utility scale Battery Storage projects providing 46MW of Enhanced Frequency Response services to National Grid.
Recently, Foresight was a commended finalist in the Best Venture Capital Trust Provider category at the 2020 Investment Life & Pensions Moneyfacts Awards. Foresight was named ‘Fund Manager of the Year’ at the PLC Awards last year, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.
Foresight is headquartered in London with regional offices in Manchester, Nottingham, Edinburgh, Cambridge, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome, Madrid and Luxembourg.