GCP Asset Backed Income Fund Ltd. · LSE:GABI
GCP Asset Backed Income Fund — TM Gravis Digital Infrastructure Income Fund — Investor Presentation (January 2026)
32 slides from GCP Asset Backed Income Fund's investor presentation, January 2026
Slide 1: TM Gravis Digital Infrastructure Income Fund
TM GRAVIS DIGITAL INFRASTRUCTURE INCOME FUND JANUARY 2026 For professional investors only
Slide 2: The Opportunity
THE OPPORTUNITY Gravis
Slide 3: Revolutionising Our Lives
REVOLUTIONISING OUR LIVES 4 th Industrial Revolution Work Play Live Data Centres Networks Telecoms Towers 5G Networks Urban Logistics E- commerce Facilities Fulfilment Centres 3
Slide 4: Data Growth
DATA GROWTH Accelerating growth in data creation. Volume of data/information created, captured, copied and consumed worldwide 1 200 180 160 140 Volume of data (zettabytes) 120 100 80 60 40 20 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 * 2023 * 2024 * 2025 * Social Media & Clo
Slide 5: E-Commerce Growth
E- COMMERCE GROWTH Retailing migrating from shops to online. E- Commerce Penetration Online sales as % of total retail sales 1 30% 25% 20% 15% 10% 5% 0% IT ES FR US DE NL UK 2012 2019 2021 2022 1 Source: Center for retail research. The figures on this graph relate to retail sales only, excluding hos
Slide 6: 5G Growth
5G GROWTH More mobile devices, consuming more data, requiring more digital infrastructure. US mobile data traffic per month 70 60 50 40 GB/month 30 20 10 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2G 3G 4G 5G Source: Ericsson, ‘Mobile Subscriptions Outlook’, June 2023. 6
Slide 7: Accelerating Adoption Rate
ACCELERATING ADOPTION RATE ChatGPT the fastest adopted consumer internet app ¹. Time to reach 100 million monthly active users 2 Uber 70 Spotify 55 Pinterest 41 Instagram 30 TikTok 9 ChatGPT 2 0 10 20 30 40 50 60 70 80 No. of months ¹ https://time.com/6253615/chatgpt - fastest - growing/. 2 Source:
Slide 8: Digital Infrastructure Assets
DIGITAL INFRASTRUCTURE ASSETS Digital infrastructure companies enable the digital world and are distinct from technology companies. DIGITAL SUB - SECTORS Communications Data Networks Logistics Technology Communication Data centres Fibre networks & Logistics warehouses Software Hardware Payment tower
Slide 9: Listed Digital Infrastructure Champions
LISTED DIGITAL INFRASTRUCTURE CHAMPIONS Developed markets listed companies championing the digital infrastructure universe. Market Cap – £90.8bn Market Cap – £30.2bn Market Cap – £9.5bn Market Cap – £2.2bn IPO Date – November 1997 IPO Date – June 1995 IPO Date – December 1949 IPO Date – October 1993
Slide 10: Introduction to the Fund
INTRODUCTION TO THE FUND Gravis
Slide 11: Strategy Overview & Objectives
STRATEGY OVERVIEW & OBJECTIVES Key Information Fund limits • Invests in a diversified portfolio of transferable securities listed in • Min. 22 holdings – currently 32 3 developed markets • Subject to UK UCITS V regulations, 5/10/40 weighting rule • Exposure to numerous leased infrastructure assets w
Slide 12: Digital Infrastructure Business Models
DIGITAL INFRASTRUCTURE BUSINESS MODELS Moving from an analogue world to a digital world creates rental income opportunities. Theme Communications Data Networks Logistics Physical asset Leasing communications Leasing space for Leasing space for Leasing space for infrastructure or communications equip
Slide 13: Investment Philosophy
INVESTMENT PHILOSOPHY Investment Management Portfolio construction Attractive valuation Fund Price construction awareness Ensure diversification Seek opportunities to Growing dividends across the UK listed minimise entry price infrastructure sector Inflation hedging Risk management Mitigate risk by
Slide 14: Liquidity and Quality
LIQUIDITY AND QUALITY Global Digital Infrastructure c.125 Listed Companies Liquid & Tradable 75+ Listed Companies Focused Digital Infrastructure 70+ Listed Companies >£650bn combined market cap >£2bn average daily volume TM Gravis Digital Infrastructure Income 30+ Investments Source: Gravis Advisory
Slide 15: Building a Diversified Portfolio
BUILDING A DIVERSIFIED PORTFOLIO The Fund invests in multiple REITs, which own or invest in a diversified pool of properties. TM GRAVIS DIGITAL INFRASTRUCTURE INCOME FUND Portfolio of REITs & Investment Companies Crown Castle Cogent Comms Keppel DC REIT Goodman Cellnex Telecom Equinix Inc 40,000 tow
Slide 16: Contractual Rent Growth
CONTRACTUAL RENT GROWTH c.70% of the portfolio benefits from contractual uplifts or inflation - linked escalators. Lease lengths and rent profiles 96% 4% 99% 1% CPI/RPI - linked income Fixed Escalators 100% 1 65% 35% 0 2 4 6 8 10 12 14 Weighted Average Unexpired Lease Term (WAULT) 1 Estimated based
Slide 17: Fixed Rate Debt
FIXED RATE DEBT Attractive debt financing. High rated, low coupon, long tenor and mostly fixed. Credit Rating Non - rated , 17.0% Sub - Investment Grade , 7.0% Investment Grade , 74.0% Av. Cost of Av. Debt % Fixed or Investment Debt Tenor capped Grade 3.0% 5.1 years 85% 74% Source: Bloomberg LP, Gra
Slide 18: Reversionary Rental Growth
REVERSIONARY RENTAL GROWTH Market rents above current rents, offering potential for future growth 35% 32% 30% 28% 25% Rent reversion spread 20% 17% 16% 15% 15% 10% 5% 0% Source: Gravis Advisory Ltd. Company accounts and investor presentations, March 25. Reversionary potential reflects reversion of c
Slide 19: Optimistic Management Outlook
OPTIMISTIC MANAGEMENT OUTLOOK “2024 was a remarkable year for Digital Realty, with record leasing driving impressive growth in our revenue backlog and prov iding Data Centres compelling visibility into our accelerating earnings growth.” Andy Power, President and CEO of Digital Realty, Q4 2024 “… ove
Slide 20: Dependable Dividend Generators
DEPENDABLE DIVIDEND GENERATORS Years of Company Sector Country of Listing Consecutive Dividend Yield 1 Dividend Growth 2 Upside Potential 3 Dividend Growth 13 3.4% 2.7% 16% 12 3.2% 2.8% 11% 12 5.4% 3.5% 8% 11 5.5% 5.7% 33% 8 4.2% 3.0% 26% 7 2.3% 7.4% 25% Source: Bloomberg LP, Company Reports and Gra
Slide 21: Private Equity Acquiring Public Equity
PRIVATE EQUITY ACQUIRING PUBLIC EQUITY The Gravis Digital Infrastructure Income Fund has benefited from private equity takeover activity. Portfolio Holding Bidder Announcement Date Takeover Premium 1 June 2021 +21% November 2021 +25% March 2022 +59% May 2022 +18% June 2022 +32% November 2022 +31% No
Slide 22: Portfolio Exposure and Top 10 Holdings
PORTFOLIO EXPOSURE AND TOP 10 HOLDINGS High conviction portfolio focused on infrastructure types with favourable fundamentals. Company Holding Sector Breakdown Prologis Inc 7.43% Logistics 51.9% Equinix Inc 6.42% Data centres 22.8% Goodman Group 6.14% Towers 21.4% Digital Realty Trust Inc 5.20% Othe
Slide 23: Reliable Distributions
RELIABLE DISTRIBUTIONS Quarterly since inception. ** 2021 1.2196p Q1 2022 2.5606p Q2 2023 2.7174p Q3 2024 2.8209p Q4 2025 2.6452p - 0.5 1.0 1.5 2.0 2.5 3.0 Past performance is not indicative of future performance, the value of your investment may go down as well as up. *The Fund launched on 31 May 2
Slide 24: Performance Since Launch
PERFORMANCE SINCE LAUNCH Performance from 31 May 2021 to 31 Dec ember 2025. 135 MSCI World IMI Core Real Estate TR 130 TM Gravis Digital Infrastructure Income Fund TR 125 120 115 110 105 100 95 90 85 May 21 Oct 21 Mar 22 Aug 22 Jan 23 Jun 23 Nov 23 Apr 24 Sep 24 Feb 25 Jul 25 May Dec 25 Returns Sinc
Slide 25: Appendix
APPENDIX Gravis
Slide 26: Fund Investment Team
FUND INVESTMENT TEAM Matthew Norris, CFA – Director of Real Shayan Ratnasingam – Senior Research James Peel, CFA – Senior Research Estate Securities & Fund Manager Analyst Analyst Matthew is the lead manager to the TM Shayan is a senior research analyst at James is a senior research analyst at Gravi
Slide 27: Distribution Team
DISTRIBUTION TEAM Cameron Gardner – Director, Jason Anderson – Head of Jonathan Feely – Sales Director, Ollie Matthews – Sales Director, Head of Distribution London Sales North & Midlands South & Channel Islands Cameron is a Director at Gravis and Jason is Head of London Sales for Jonathan is a Sale
Slide 28: Key Terms
KEY TERMS Fund Size* £14.3m Yield (C Inc GBP)* 3.17% Share Classes Income & Accumulation Minimum Investment C: £100 | I: £10,000,000 Annual Management Charges C: 0.80% | I: 0.70% Fund operating charges** C: 0.80% | I: 0.70% Launch Date 31/05/2021 Launch Price £1 Valuation and trading Daily 12pm Inve
Slide 29: Platforms and Wrappers
PLATFORMS AND WRAPPERS Available on the following platforms Suitable for Aegon Nucleus Direct investors Allfunds Old Mutual/Quilter SIPPs Aviva Pershing ISAs Barclays Raymond James Charities Canada Life Seven IM Companies Citi Bank Standard Life Wrap Offshore Bonds Close Brothers Standard Life/Eleva
Slide 30: Important Notice
IMPORTANT NOTICE Warning This presentation is issued by Gravis Advisory Limited (“GAL” or the “Firm”)), which is authorised and regulated by the Finan cia l Conduct Authority. GAL’s registered office address is 24 Savile Row, London, United Kingdom, W1S 2ES. The company is registered in England and
Slide 31: Contact Information
CONTACT INFORMATION Cameron Gardner - Director, Head of Distribution Jason Anderson - Head of London Sales cameron.gardner@graviscapital.com jason.anderson@graviscapital.com 020 3405 8555 020 3405 8527 Jonathan Feely - Sales Director, North & Midlands Ollie Matthews - Sales Director, South & Channel
Slide 32: Investment Ideas for the Long Run
INVESTMENT IDEAS FOR THE LONG RUN
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