RM Infrastructure Income PLC GBP · LSE:RMII
RM Infrastructure Income PLC GBP — RM Infrastructure Bond Fund — Debt Investor Presentation (October 2024)
11 slides from RM Infrastructure Income PLC GBP's debt investor presentation, Oct 31, 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 Credit Spread Indices (bps) UK GILTS & US Treasury Yield Curves (%) 800 200 Yield curve shape 5.20% 180 700 ▪ Inverted – cause for concern as this usually 5.00% 160 predicates a recession 600 4.80% 140 ▪ Indicates tighter credit conditions as short 4.60% 500 120 dated finan
Slide 5: Current Portfolio Positioning
Current Portfolio Positioning Portfolio Statistics ▪ Running Yield: 5.38% ▪ Economic Infrastructure: 32% ▪ Top #10 Exposure: 37.16% ▪ Distribution Yield*: 5.29% ▪ Regulated Infrastructure: 35% ▪ # of Holdings: 44 ▪ Option Adjusted Duration: 4.71 years ▪ Social Infrastructure: 15% ▪ YTW: 5.34% ▪ Gilt
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 – 31st October 2024)
Actual Fund Performance (15th June 2023 – 31st October 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 "I
Slide 8: RMIBF Volatility vs IA Sterling Strategic Peers
0 2 4 6 8 10 12 14 16 10 62 8 74 61 5 71 70 41 47 22 48 55 SVS RM Infrastructure 18 12 78 77 43 19 17 28 81 9 14 65 30 23 7 54 63 75 40 IA Sterling Strategic Volatility 73 79 24 68 8 4 25 59 57 11 45 20 27 69 1 35 56 66 53 51 RMIBF Volatility vs IA Sterling Strategic Peers 37 49 58 32 52 67 26 34 29
Slide 9: RMIBF Sharpe Ratio vs IA Sterling Strategic Peers
0 1 2 3 4 0.5 1.5 2.5 3.5 4.5 71 74 78 9 43 41 4 55 79 62 12 61 63 54 70 5 73 77 2 SVS RM Infrastructure 10 14 8 35 81 58 27 28 75 19 65 53 50 22 34 67 21 57 9 24 1 11 49 56 68 44 59 18 6 17 40 33 29 RMIBF Sharpe Ratio vs IA Sterling Strategic Peers Sharpe Ratio vs IA Sterling Strategic Bond Peers 6
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 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)
RM Infrastructure Bond Fund — Debt Investor Presentation (October 2024) on 6ix