RM Infrastructure Income PLC GBP · LSE:RMII
RM Infrastructure Income PLC GBP — VT RM Alternative Income Fund — Investor Presentation (August 2025)
29 slides from RM Infrastructure Income PLC GBP's investor presentation, August 2025
Slide 1: RM Alternative Income Investor Presentation Q2 2025
VT RM Alternative Income Fund RM Alternative Income Investor Presentation Q2 2025 Institutional Investors Only
Slide 2: Disclaimer
Disclaimer Disclaimer All information and opinions contained in this document has been provided by RM Capital Markets Limited ("Company"), which is authorised and regulated by the Financial Conduct Authority, and have not been independently verified as to their accuracy by either the Company or any
Slide 3: In this presentation
In this presentation About RM Funds 5 About RM Funds 6 Senior Leadership Market Conditions 8 Macro Overview 9 Why Alternatives? 10 Fund Overview Listed Real Assets 12 Infrastructure & Sustainable Assets 13 Social Impact Real Estate 14 Digital Infrastructure & Disruptive Real Estate Fund Performance
Slide 4: About RM Funds
VT RM Alternative Income Fund About RM Funds ▪ About RM Funds ▪ Senior Leadership 4
Slide 5: About RM Funds
About RM Funds RM Funds is a specialist in alternative investment management ▪ RM currently manages public and private market strategies, including: – Listed Real Assets Strategy: VT RM Alternative Income Fund (“RMAI”) – Infrastructure Debt Strategy: SVS RM Infrastructure Bond Fund (“IBF”) – Alterna
Slide 6: RM Funds – Senior Leadership
RM Funds – Senior Leadership Fund Management Leadership Pietro Nicholls Investment Team Experience Lead Portfolio Manager, Investment Committee Member ▪ Investment Team focused on Liquid and Illiquid alternative securities/assets ▪ Expertise in structuring and managing alternative assets including ▪
Slide 7: Market Conditions
VT RM Alternative Income Fund Market Conditions ▪ Macro Overview ▪ Why Alternatives? ▪ Fund Summary 7
Slide 8: Macro Snapshot & Sector Focus
Macro Snapshot & Sector Focus United State: Inflation: The 1970s versus today Real Asset > Sector Average Discounts Macro Focus 20.00% 16 10.00% ▪ US Trade Tariffs / Policy > Potential for 14 US Inflation Shocks 0.00% 12 -10.00% ▪ US Centric / US Consumer issue, $ 10 weakness vs GBP. Fed is data dri
Slide 9: What are Listed Real Assets, and why invest?
What are Listed Real Assets, and why invest? Listed Real assets, put simply, are investments in assets ▪ US / Global Trade Tariffs beyond traditional equities, bonds and cash. Mixed Income ▪ Ukraine / Russia Conflict They include assets in specialist real estate (eg data centres, care homes, student
Slide 10: VT RM Alternative Income Fund Overview
VT RM Alternative Income Overview The VT RM Alternative Income Fund (the “Fund”) launched in June 11th June 2018. FUND LAUNCHED 2018 ▪ An actively managed global-developed mandate, with a strategy designed to deliver consistent income returns to investors. EXPERIENCED Pietro Nicholls, ▪ Aims to offe
Slide 11: What are Alternative Income Assets?
VT RM Alternative Income Fund What are Alternative Income Assets? ▪ Infrastructure & Sustainable Assets: Hospitals, schools, ports and renewables ▪ Social Impact Real Estate: Nurseries, dentists, GP surgeries, student accommodation and aged care ▪ Digital Infrastructure: Data centres, logistics ware
Slide 12: Infrastructure & Sustainable Assets
Infrastructure & Sustainable Assets Infrastructure assets provide essential services to the economy SUMMARY STATISTICS and society. $2.5 trillion Government policy (social, health and environmental), supported by long-term structural drivers, underpins an asset class characterized by non-cyclical ca
Slide 13: Real Estate & Ageing Populations
Real Estate & Ageing Populations The global population is growing and ageing. By 2030 the SUMMARY STATISTICS population is expected to be over 8.5bn, and the total number of people over the age of 60 is predicted to grow from c.962M in $200bn per annum Expected growth in G7 Countries ex US 2017 to c
Slide 14: Industrial Disruption
Industrial Disruption The global health crisis immediately disrupted consumer SUMMARY STATISTICS behavior and accelerated the structural decline of traditional physical-based businesses and services. +9.1% per annum growth in internet usage1 Working from home, E-commerce and cloud-based application
Slide 15: Fund Overview
VT RM Alternative Income Fund Fund Overview ▪ Portfolio ▪ Performance ▪ Contribution ▪ Outlook 15
Slide 16: Dynamic Portfolio Allocation
Dynamic Portfolio Allocation Allocation Split1, April 2023 Allocation Split1, April 2024 Allocation Split1, April 2025 Specialist Real Estate Specialist Real Estate Specialist Real Estate Secured - Secured Secured Real Assets Real Assets Real Assets 23% 3% 5%0.4% -0.7% -- 22% 21% 2.8% 2% 26% 2% 4%0.
Slide 17: Relative Performance vs Asset Classes
Relative Performance vs Asset Classes VT RM Alternative Income Fund – Relative Performance Since RMAI - UK Generic GILTs Yield Correlation Inception Correlation Intervals 150 5Y 3Y 2Y 1Y YTD 145 6.00 1.00 140 135 5.00 0.80 130 125 0.60 120 4.00 115 0.40 Correlation Yield (%) 110 3.00 105 0.20 100 2.
Slide 18: Performance Contribution – LTM to April 2025
Performance Contribution – LTM to April 2025 Secured Real Assets Performance Infrastructure Performance Contribution LTM Contribution LTM Performance 2.40% 6.00% ▪ Last 12 Months Total Return of 6.90% 4.00% ▪ Average total return contribution per holding was 1.90% 15.68bps 2.00% 1.40% ▪ Bottom 10 ho
Slide 19: Market & Portfolio Outlook
Market & Portfolio Outlook ▪ 2025 H2 Outlook ▪ #1 US Pollical Risks: Tariffs ▪ #2 US Monetary Policy Risks: Rates / Inflation / Stagflation environment ▪ #3 M&A Activity: M&A, M&A, M&A! ▪ Fund Positioning ▪ Playbook ▪ Fundamentals: Continued focus on investing based on fundamentals, foreseeing chall
Slide 20: Investment Process
VT RM Alternative Income Fund Investment Process ▪ RM Funds Edge ▪ Investment Process ▪ Summary ▪ Contact Information 20
Slide 21: Summary Investment Process
Summary Investment Process Rigorous investment process, with a focus on both top-down Macro and bottom-up analysis to Analysis support investment decisions. Inflation / Rates / Policy ESG FACTORS • Ethical, Social and Corporate Governance Investment ESG Factor • Active engagement with Boards Screen
Slide 22: Macro Analysis & Review
Macro Analysis & Review Investment Team Time: up to 10% Key Metrics: ▪ GDP ▪ Payrolls ▪ Housing Sales/Starts etc ▪ PMIs ▪ Interest Rate Expectations ▪ Inflation Expectations ▪ Cyclical macro factors Why? ▪ Macro-economic information is an important consideration when considering domestic (fund base
Slide 23: ESG Review
ESG Review Investment Team Time: c.5% Key Metrics: ▪ C.100 metrics ▪ UN Sustainable Development Goals ▪ Specific areas include: suitability management, environmental impact, labour practices, health & safety, diversity & inclusion, supply chain management, leadership & governance and business ethics
Slide 24: Fundamental Analysis
Fundamental Analysis Investment Team Time: Up to c.50% Management Experience, Alignment, Three Key Factors: Transparency ▪ Management: Board, Governance, Transparency and Alignment ▪ Financial Statements: Cash Generation, Revenue Recognition, etc ▪ Assets: Counterparties, Valuation Policy, Capital S
Slide 25: Liquidity, Technical Factors & Portfolio Construction
Liquidity, Technical Factors & Portfolio Construction Investment Team Time: c.5-10% Key Priorities ▪ Liquidity Tree and Ladder ▪ Portfolio and stock metrics (volatility, correlation, beta et al) ▪ Position sizing/weighting Why? ▪ A key focus is ensuring we only invest in liquid public securities, wi
Slide 26: Post-Investment Monitoring
Post-Investment Monitoring Investment Team Time: 20-50% Key Metrics: ▪ Various metrics, driven by sector specific considerations, for example: Renewables: power prices, resource generation, discount rates, OpEx costs, tax, asset life. For Real Estate: psf price, rent free periods, occupancy rates, c
Slide 27: Summary
Summary VT RM Alternative Income is a diversified investment strategy, designed to deliver stable income returns for investors. ▪ Focus on capital preservation and stable income generation – minimal exposure to traditional listed equities and corporate bonds. ▪ Potential for protection against a ris
Slide 28: Contact Information
Contact Information Investment Management Distribution Pietro Nicholls: 0203 697 1768 / pietro.nicholls@rm-funds.co.uk James Satterthwaite: 0131 603 7068 / james.satterthwaite@rm-funds.co.uk David Watts: +44 7402 810068 / david.watts@rm-funds.co.uk Head Office: 4th Floor, 7 Castle Street, Edinburgh,
Slide 29: Registered in Scotland No SC380707
Registered in Scotland No SC380707 Registered Office: 4th Floor, 7 Castle Street, Edinburgh, EH2 3AH RM Capital Markets Limited is authorised and regulated by the Financial Conduct Authority (Number 562209) 29
VT RM Alternative Income Fund — Investor Presentation (August 2025) on 6ix