RM Infrastructure Income PLC GBP · LSE:RMII
RM Infrastructure Income PLC GBP — RM Infrastructure Bond Fund — Investor Presentation (April 2025)
15 slides from RM Infrastructure Income PLC GBP's investor presentation, April 2025
Slide 1: RM Infrastructure Bond Fund Q2 2025 Presentation
RM Infrastructure Bond Fund RM Infrastructure Bond Fund Q2 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 ▪ Investment strategy top allocate into corporate credit focused on infrastructure assets ▪ Regulated Infrastructure ▪ Social Infrastructure ▪ Low management fee, 0.45% F Class ▪ Economic Infrastructure ▪ F Class capped OCF 0.50% ▪ Investment Objective ▪ Investmen
Slide 4: Macro-Economic Conditions
Macro-Economic Conditions UK GILTS Yield Curves (%) 5.40% 5.20% Yield curve shape 5.00% 4.80% ▪ Curve has normalised. Worries around fiscal deficits, 4.60% inflation, tariffs, US Debt sustainability grey swan event. 4.40% 4.20% 4.00% Credit Spreads 3.80% 3.60% • Attractive all in yields for maturiti
Slide 5: 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 6: Current Portfolio Positioning
Current Portfolio Positioning Portfolio Statistics ▪ Running Yield: 5.12% ▪ Economic Infrastructure: 28% ▪ Top #10 Exposure: 37.2% ▪ Distribution Yield*: 5.30% ▪ Regulated Infrastructure: 31% ▪ # of Holdings: 47 ▪ Option Adjusted Duration: 1.99 years ▪ Social Infrastructure: 14% ▪ VT RMAI Crossover:
Slide 7: Fund Performance (15th June 2023 – 31st March 2025)
Fund Performance (15th June 2023 – 31st March 2025) 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 "I" Class D
Slide 8: RM IBF vs Passive Peers
RM IBF vs Passive Peers 118 • Active bond funds tend to outperform passive indices because bond indices are 116 heavily weighted toward large, highly indebted issuers, which carry greater 114 financial risk, leading to weaker performance. 1 112 • In 2024, active funds in the IA Sterling Strategic Bo
Slide 9: Credit spreads since inception
Credit spreads since inception Markit Itrax EUR Main ▪ The Itrax Main index is a good proxy for 95 quantifying European investment grade credit risk. 90 ▪ For the last 15-months, credit spreads have remained tightly range bound between 50-65, roughly the 5-year tights. 85 ▪ This indicates stable cre
Slide 10: Defensive Segment of the Market
Defensive Segment of the Market iBoxx EUR IG Sector Weightings Healthcare Real Estate 1%0% 3% 0% 2% 4% 5% Telecoms • RM IBF selects from a small sub-set (c. 30%) 3% of the investment grade corporate bond 2% Transport universe. 0% Utilities 10% • We consider these sectors to be more Autos defensive i
Slide 11: IG Credit spreads between 1st April and 9th April
IG Credit spreads between 1st April (pre-tariff) – 9th April (peak-fear) Spread Widening by IG Sector between 1st April - 9th April 70.0 60.0 50.0 40.0 bps 30.0 20.0 10.0 0.0 Autos Building Capital Consumer Financials T2 Insurance Media Metals and Oil & Gas Banks Retail Services Technology Healthcar
Slide 12: SVS RM Infrastructure Bond: Volatility vs Peers
0 2 4 6 8 10 12 75 10 61 12 72 62 71 41 47 12 5 55 78 SVS RM Infrastructure Bond 28 18 14 79 52 17 69 24 7 25 43 34 82 76 ▪ 13/84 in the IA Sterling Strategic Index 74 80 54 9 49 IA Sterling Strategic Volatility 66 63 45 8 27 35 51 11 50 53 30 70 1 40 26 36 4 56 32 29 RMIBF Volatility vs IA Sterling
Slide 13: Sharpe Ratio vs IA Sterling Strategic Bond Peers
Sharpe Ratio vs IA Sterling Strategic Bond Peers RMIBF Sharpe Ratio vs IA Sterling Strategic Peers 4.5 4 3.5 3 2.5 ▪ 20/84 in the IA Sterling Strategic Index 2 1.5 1 0.5 0 71 74 78 52 81 72 75 61 62 79 41 12 10 55 43 54 76 14 80 19 63 58 27 59 47 35 33 65 49 64 21 34 56 68 28 40 31 20 66 25 44 69 38
Slide 14: Market & Portfolio Outlook
Market & Portfolio Outlook ▪ 2025 Q2 Outlook and beyond ▪ Near term elevated volatility expected. Tariffs / fiscal headroom, economic weakness all have different pushes and pulls on rates and credit. ▪ Expect UK government bond yields to be lower over the 2025 year and credit spreads wider. However,
Slide 15: 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)
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