RM Infrastructure Income PLC GBP · LSE:RMII
RM Infrastructure Income PLC GBP — RM Infrastructure Bond Fund — Investor Presentation (December 2024)
14 slides from RM Infrastructure Income PLC GBP's investor presentation, Dec 31, 2024
Slide 1: RM Infrastructure Bond Fund Q1 2025 Presentation
RM Infrastructure Bond Fund RM Infrastructure Bond Fund Q1 2025 Presentation Institutional Investors Only
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is an advertisement and not a prospectus for the purposes of EU Directive 2003/71/EC or Part VI of the Financial Services and Markets Act 2000 ("FSMA"). Investors should not subscribe for shares referred to in this Presentation except on the basis of inf
Slide 3: SVS RM Infrastructure Bond Overview
SVS RM Infrastructure Bond Overview ▪ Overview ▪ Investment objective to target an income return greater than SONIA ▪ Defensive focus – should be viewed as core fixed income IG holding/allocation. ▪ Low management fee, 0.45% F Class ▪ Focus sectors ▪ F Class capped OCF 0.50% ▪ Regulated Infrastructu
Slide 4: Macro-Economic Conditions
Macro-Economic Conditions Credit Spread Indices (bps) UK GILTS & US Treasury Yield Curves (%) 800 200 180 5.20% 700 Yield curve shape 160 5.00% 600 ▪ Having been inverted now largely normal. 140 4.80% 500 ▪ Getting paid to extend. 120 Itrax Main Itrax XO 4.60% 4.40% 400 100 Credit Spreads 80 4.20% 3
Slide 5: Fiscal conditions
Fiscal conditions • Unlike previously, high US deficit will not boost the economy. • US deficit expected to stay deeply negative, but this will not boost growth Hutchins Center Fiscal Impact Measure - Fiscal Policy Contribution to Real US GDP Growth 6 Australia Canada Germany France UK Italy Japan U
Slide 6: RM IBF vs Passive Peers
RM IBF vs Passive Peers Healthcare iBoxx EUR IG Sector Weightings Real Estate 1%0% 3% 0% 2% 3% 5% Telecoms • RM IBF selects from a small sub-set (c. 30%) 3% of the investment grade corporate bond 1% Transport 2% universe. Utilities 10% Autos • We consider these sectors to be more defensive in nature
Slide 7: RM IBF vs Passive Peers
RM IBF vs Passive Peers RMIBF vs iShares Corp Bond Index • Active bond funds tend to outperform passive indices 116 because bond indices are heavily weighted toward large, highly indebted issuers, which carry greater financial risk, leading to weaker performance. 1 114 • In 2024, active funds in the
Slide 8: Current Portfolio Positioning
Current Portfolio Positioning Portfolio Statistics ▪ Running Yield: 5.44% ▪ Economic Infrastructure: 47% ▪ Top #10 Exposure: 30.9% ▪ Distribution Yield*: 5.48% ▪ Regulated Infrastructure: 30% ▪ # of Holdings: 55 ▪ Option Adjusted Duration: 4.87 years ▪ Social Infrastructure: 9% ▪ YTW: 5.43% ▪ Gilts/
Slide 9: Allocation Process
Allocation Process ▪ Defined and structured approach to risk taking Investment Guidelines: ▪ Issuer Limit 10% ▪ No Illiquid Holdings/Securities ▪ Clear risk profile grading system for investor communication ▪ <5% crossover in portfolio ▪ Issue Limit 5% holdings with RMAI ▪ >70% portfolio issuers IG
Slide 10: Actual Fund Performance (15th June 2023 – 31st December 2024)
Actual Fund Performance (15th June 2023 – 31st December 2024) RM Infrastructure Bond Fund Performance since Inception 116.00 114.00 112.00 110.00 108.00 106.00 104.00 102.00 100.00 98.00 RM Infrastructure Bond Fund (F-Class Acc) IA Sterling Strategic Bond SVS RM Infrastructure Bond - Institutional "
Slide 11: RMIBF Volatility vs IA Sterling Strategic Peers
0.00% 2.00% 4.00% 6.00% 8.00% 12.00% 10.00% 77 43 11 10 74 64 73 63 57 80 12 49 5 50 RM Infrastructure Bond 23 81 84 17 29 14 7 19 45 56 65 82 8 76 18 31 71 26 IA Sterling Strategic Volatility 9 37 4 25 11 28 51 36 42 55 78 24 68 58 32 52 1 59 53 33 70 RMIBF Volatility vs IA Sterling Strategic Peers
Slide 12: RMIBF Sharpe Ratio vs IA Sterling Strategic Peers
0 1 2 3 4 -0.5 0.5 1.5 2.5 3.5 4.5 74 81 12 43 45 63 64 73 57 12 4 82 5 56 65 23 10 76 2 14 RM Infrastructure Bond 80 20 29 28 37 78 60 8 19 84 18 55 68 61 1 6 71 9 11 34 36 51 25 70 67 58 46 22 42 59 66 40 Sharpe Ratio vs IA Sterling Strategic Bond Peers 26 49 RMIBF Sharpe Ratio vs IA Sterling Stra
Slide 13: Market & Portfolio Outlook
Market & Portfolio Outlook ▪ 2025 H1 Outlook ▪ Near term elevated volatility expected. Economic deterioration expected and focus will move to employment/growth from inflation. ▪ Expect government bond yields to be lower over the 2025 year and credit spreads wider (reversing moves of last 6 months).
Slide 14: Registered in Scotland No SC380707 Registered Office: 7 Castle Street, Edinburgh, EH2 3AH RM
Registered in Scotland No SC380707 Registered Office: 7 Castle Street, Edinburgh, EH2 3AH RM Capital Markets Limited is authorised and regulated by the Financial Conduct Authority (Number 562209)
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