RM Infrastructure Income PLC GBP · LSE:RMII
RM Infrastructure Income PLC GBP — RM Infrastructure Bond Fund — Debt Investor Presentation (September 2024)
11 slides from RM Infrastructure Income PLC GBP's debt investor presentation, Sep 30, 2024
Slide 1: RM Infrastructure Bond Fund Q4 2024 Presentation
RM Infrastructure Bond Fund RM Infrastructure Bond Fund Q4 2024 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 UK GILTS & US Treasury Yield Curves (%) Credit Spread Indices (bps) 5.20% 800 200 Yield curve shape 5.00% 700 180 ▪ Inverted – cause for concern as this usually 4.80% 160 predicates a recession 4.60% 600 140 ▪ Indicates tighter credit conditions as short 4.40% 500 120 dated
Slide 5: Current Portfolio Positioning
Current Portfolio Positioning Portfolio Statistics ▪ Running Yield: 5.38% ▪ Economic Infrastructure: 42% ▪ Top #10 Exposure: c.42.6% ▪ Distribution Yield*: 5.66% ▪ Regulated Infrastructure: 32% ▪ # of Holdings: 33 ▪ Option Adjusted Duration: 2.04 years ▪ Social Infrastructure: 11% ▪ YTW: 5.35% ▪ Gil
Slide 6: 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 7: Actual Fund Performance (15th June 2023 – 30th September 2024)
Actual Fund Performance (15th June 2023 – 30th September 2024) RM Infrastructure Bond Fund Performance since Inception 114.00 113.00 112.00 111.00 110.00 109.00 108.00 107.00 106.00 105.00 104.00 103.00 102.00 101.00 100.00 99.00 98.00 RM Infrastructure Bond Fund (F-Class Acc) IA Sterling Strategic
Slide 8: IA Sterling Strategic Volatility
IA Sterling Strategic Volatility 16 14 12 10 8 6 4 2 0 Source: FE FundInfo (30/09/2024) 8
Slide 9: Sharpe Ratio vs IA Sterling Strategic Bond Peers
0 2 3 4 0.5 1 1.5 2.5 3.5 62 16 9 1 3 9 12 55 56 46 32 13 2 29 68 Source: FE FundInfo (30/09/2024) 31 18 21 37 38 28 6 5 10 50 8 42 52 25 22 51 23 14 20 34 36 24 61 11 19 7 33 41 17 66 58 26 43 35 76 45 27 79 IA Sterling Strategic Sharpe Ratios 53 39 47 Sharpe Ratio vs IA Sterling Strategic Bond Pee
Slide 10: Market & Portfolio Outlook
Market & Portfolio Outlook ▪ 2024 H2 Outlook ▪ Overall economic conditions will slow due to tighter financial conditions seen over 2023/24 to date. ▪ Expect government bond yields to be lower over the 2024 year and credit spreads wider. ▪ UK Gilt Curve will steepen. ▪ Fund Positioning: ▪ Volatility
Slide 11: Registered office and regulatory information
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)
RM Infrastructure Bond Fund — Debt Investor Presentation (September 2024) on 6ix