Russell Investments Global Listed Infrastructure Fund
Managed by Russell Investments Russell Investments Global Listed Infrastructure Fund is a other managed fund operated by Russell Investments; PIE-structured; FMA risk indicator 5/7. Headline terms: annual fund charge 0.96% · minimum investment NZ$5,000 · distributions semi-annually. Compared with 7 other same-category funds on this site, the 0.96% annual fund charge sits below the same-category median of 1.05%.
PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.08%
vs peer avg 0.91%
Risk indicator
5/7
1 = lower risk · 7 = higher risk
5-year return p.a.
Less than 5 years of data
peer avg 4.91%
Fund size
NZ$167.6m
98% growth · 2% income
To provide a total return, before costs and tax, higher than the S&P Global Listed Infrastructure – Net Total Return Index - New Zealand dollar Hedged over the long term. The Fund targets a 20% carbon footprint reduction relative to its benchmark index.
How Russell Investments Global Listed Infrastructure Fund differs
Factual contrasts drawn from the PDS, SIPO and latest portfolio holdings — no opinion.
- Benchmark
- S&P Global Listed Infrastructure – Net Total Return Index - New Zealand dollar Hedged
- Top 3 holdings
- Nextera Energy Inc (5.1%) · Transurban Group Ordinary Shares Units Stapled Securities (4.5%) · Aena Sme Ord Shs (4.3%)
Key facts
Fund start date
17 March 2022
Min. investment
NZ$5,000
Subsequent: NZ$500
Distributions
Semi-annually
Buy / sell spread
18 bps (0.18%) / 13 bps (0.13%)
Transaction cost on subscription / redemption
Tax structure
PIE
Capped at your PIR (max 28%)
Investment policy
From the Statement of Investment Policy and Objectives (SIPO).
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| Infrastructure and infrastructure related securities | 100% | 90% | 100% |
| Cash and cash equivalents | — | 0% | 10% |
Responsible-investment approach
Various investment exclusions are applied to the Funds including tobacco manufacturers, controversial weapons producers, nuclear weapons producers, firearms, uranium mining, prohibited coal companies, and UNGC Principles non-compliance. Certain funds have additional ESG objectives targeting carbon footprint reductions and improved ESG scores. Exclusions rely on data from independent vendors including Sustainalytics and are reviewed quarterly.
Exclusions
- Prohibited Coal Companies (With Exceptions)
- UNGC Principles Non-Compliance
Derivatives policy
Derivatives may be used across funds to obtain or reduce exposure to securities and markets, implement investment strategies, and manage risk, including currency hedging instruments. ESG considerations and exclusions applied in a Fund do not apply where a Fund invests in derivatives.
Reading between the lines
Plain-English summary of the scheme's disclosed conflicts and performance-fee mechanics, drawn from the OMI and PDS. Factual restatement — no opinion.
- FundRock NZ acknowledges that, because it and its administration manager Apex NZ share the same ultimate parent (Apex Group Limited), FundRock may be influenced to agree commercial terms that favour Apex NZ at investors' expense.
- FundRock NZ manages this conflict by certifying to the Supervisor that its contract with Apex NZ is on arms-length commercial terms and by applying its Conflicts of Interest Policy.
- FundRock NZ pays a related party, Apex Investment Administration (NZ) Limited, for administration services including registry, fund accounting, and unit pricing, funded from scheme assets.
- FundRock NZ has appointed Russell Investment Management Ltd as investment manager under a Fund Hosting Agreement, meaning an external third party selects the underlying investment managers for the funds.
Generated 2026-05-28 from Russell Investment Funds OMI (dated 2026-03-31). The verbatim disclosures appear in full below — this summary is a navigation aid, not a substitute.
Scheme disclosures
From the Other Material Information (OMI) document. Scheme-level — applies to every fund in this scheme.
Trustee / Supervisor
Public Trust
Auditor
PricewaterhouseCoopers
Custodian
Public Trust RIF Nominees Limited (for Russell Investments NZ Shares Fund, NZ Fixed Interest Fund, Global Fixed Interest Fund); BNP Paribas Fund Services Australasia Pty Ltd (for Russell Investments Global Shares Fund, Hedged Global Shares Fund, Sustainable Global Shares Fund, Hedged Sustainable Global Shares Fund, Global Listed Infrastructure Fund, Global Listed Real Estate Fund)
Conflicts disclosed
2
In OMI
Conflicts of interest disclosed in OMI
- FundRock and Apex NZ are both ultimately owned by Apex Group Limited, which may influence FundRock to agree commercial terms with Apex NZ that are more favourable to Apex NZ than would otherwise be the case, benefiting Apex NZ at the expense of investors.
- FundRock manages this conflict by certifying to the Supervisor that the arrangement with Apex NZ is on arms' length commercial terms and by complying with its Conflicts of Interest Policy in respect of its relationship with Apex NZ.
How this fund compares to peers
Mechanical comparison vs the 8 other other funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
1.08%
Category median: 1.06%
Mid-pack — cheaper than 44% of peers
Fund size
NZ$167.6m
Category median: NZ$106.3m
69th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$528
Compounded charge over 5 years (excl. returns)
$7 more than peer median
Read the full fee-vs-peers breakdown →
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
| NE Nextera Energy Inc | 5.12% |
| TG Transurban Group Ordinary Shares Units Stapled Securities | 4.49% |
| AS Aena Sme Ord Shs | 4.31% |
| CE Cheniere Energy Inc | 3.13% |
| TR Targa Resources In Com | 3.11% |
| XE Xcel Energy Inc | 3.04% |
| GE Getlink Se | 2.96% |
| ON Oneok Inc | 2.93% |
| NG National Grid | 2.64% |
| IB Iberdrola Sa | 2.50% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- RUSSELL INVESTMENTS GLOBAL LISTED INFRASTRUCTURE FUND (FND37498) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 4.04 KB
- 20260420 Russell Investment Funds PDS Sustainable Global Shares Funds.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 344.36 KB
- 20260331 Russell Investments Global Listed Infrastructure QFU.pdf The quarterly update published by the provider PDF, 477.68 KB
- 20260401 Russell Investment Funds OMI.pdf Other Material Information - 1 April 2026 PDF, 437.55 KB
- 20260420 Russell Investment Funds PDS Listed Real Assets.pdf Additional product disclosure statement from the provider PDF, 347.48 KB
- 20260420 Russell Investment Funds PDS.pdf Additional product disclosure statement from the provider PDF, 358.37 KB
- 20260401 Russell SIPO.pdf Statement of investment policy and objectives PDF, 571.24 KB
About this category
Funds that do not fit the standard asset-class categories — global listed infrastructure, digital-asset funds, peer-to-peer income funds.
About Russell Investments
Global multi-manager firm running diversified and sector index funds in NZ.
See all funds from Russell Investments →Common questions
Questions people ask about Russell Investments Global Listed Infrastructure Fund
Drawn from Google's "People also ask" panel and answered with reference to the fund's filed PDS, Fund Update and FMA Disclose data. Not personal financial advice — for guidance specific to your situation, consult an authorised financial adviser.
Why invest in global listed infrastructure funds?
Global listed infrastructure funds provide exposure to essential services such as energy, transport, and utilities across multiple countries, with the potential to diversify a portfolio beyond traditional equity and bond markets. Listed infrastructure assets typically generate stable cash flows and may offer inflation-hedging characteristics, though returns and risks vary by fund and economic conditions. For details on this fund's specific infrastructure holdings and their geographic distribution, consult the latest Product Disclosure Statement on the FMA Disclose register.
Is an infrastructure fund good for long-term?
Infrastructure funds can form part of a long-term investment strategy, as listed infrastructure assets often have stable, long-dated revenue streams; however, suitability depends on your individual financial circumstances, time horizon, and risk tolerance. This fund carries a risk indicator of 5/7 on the FMA standardised scale, indicating moderate-to-higher risk. You should review the fund's Product Disclosure Statement and consider seeking financial advice before committing funds for the long term.
Is Russell Investments a good company?
Russell Investments is a registered fund manager in New Zealand and offers the Global Listed Infrastructure Fund through regulated channels including InvestNow. To verify the fund manager's regulatory standing and any history, you can search the FMA register at https://disclose-register.companiesoffice.govt.nz/ and review the fund's Product Disclosure Statement.
Head-to-head
Compare Russell Investments Global Listed Infrastructure Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Other funds
Same manager
Other funds by Russell Investments
- Russell Investments Hedged Sustainable Global Shares FundInternational Equities
- Russell Investments Global Fixed Interest FundInternational FI
- Russell Investments Sustainable Global Shares FundInternational Equities
FMA risk band
Same risk band (5/7)
See every NZ retail managed fund with the same standardised FMA risk indicator. Useful for peer-checking volatility-comparable funds outside this category.
View risk band 5 funds →AI & integrations
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Russell Investments Global Listed Infrastructure Fund?
Russell Investments Global Listed Infrastructure Fund is managed by Russell Investments. Global multi-manager firm running diversified and sector index funds in NZ.
What asset class is the Russell Investments Global Listed Infrastructure Fund?
It is a other managed fund. Funds that do not fit the standard asset-class categories — global listed infrastructure, digital-asset funds, peer-to-peer income funds.
What are the fees for the Russell Investments Global Listed Infrastructure Fund?
The annual fund charge for the Russell Investments Global Listed Infrastructure Fund is 1.08% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Russell Investments Global Listed Infrastructure Fund?
The risk indicator is 5/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Russell Investments Global Listed Infrastructure Fund a PIE fund?
Yes. The Russell Investments Global Listed Infrastructure Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Russell Investments Global Listed Infrastructure Fund?
Fund size (assets under management) is NZ$168 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Russell Investments Global Listed Infrastructure Fund invest in?
The latest published top holdings are: Nextera Energy Inc (5.12%), Transurban Group Ordinary Shares Units Stapled Securities (4.49%), Aena Sme Ord Shs (4.31%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Russell Investments Global Listed Infrastructure Fund?
The Russell Investments Global Listed Infrastructure Fund is available via Russell Investments directly. Always read the current Product Disclosure Statement before investing.
Why invest in global listed infrastructure funds?
Global listed infrastructure funds provide exposure to essential services such as energy, transport, and utilities across multiple countries, with the potential to diversify a portfolio beyond traditional equity and bond markets. Listed infrastructure assets typically generate stable cash flows and may offer inflation-hedging characteristics, though returns and risks vary by fund and economic conditions. For details on this fund's specific infrastructure holdings and their geographic distribution, consult the latest Product Disclosure Statement on the FMA Disclose register.
Is an infrastructure fund good for long-term?
Infrastructure funds can form part of a long-term investment strategy, as listed infrastructure assets often have stable, long-dated revenue streams; however, suitability depends on your individual financial circumstances, time horizon, and risk tolerance. This fund carries a risk indicator of 5/7 on the FMA standardised scale, indicating moderate-to-higher risk. You should review the fund's Product Disclosure Statement and consider seeking financial advice before committing funds for the long term.
Is Russell Investments a good company?
Russell Investments is a registered fund manager in New Zealand and offers the Global Listed Infrastructure Fund through regulated channels including InvestNow. To verify the fund manager's regulatory standing and any history, you can search the FMA register at https://disclose-register.companiesoffice.govt.nz/ and review the fund's Product Disclosure Statement.