# Russell Investments Global Listed Infrastructure Fund > Mechanical fund record. Sourced from the FMA Disclose register. ManagedFundsNZ does not give financial advice and does not publish opinion-based ratings. - **Manager:** Russell Investments (Russell Investments NZ Limited) - **Asset class:** Other - **Structure:** NZ Portfolio Investment Entity (PIE) — investor tax capped at PIR (max 28%) - **Confidence tier:** C (Sorted Smart Investor → FMA Disclose) - **Last verified:** 2026-05-22 ## Summary The Russell Investments Global Listed Infrastructure Fund is a other managed fund run by Russell Investments. Global multi-manager firm running diversified and sector index funds in NZ. ## Investment objective (from PDS) > 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. Source: Product Disclosure Statement dated 2026-04-14 (Tier A, lodged on FMA Disclose register). https://smartinvestor.sorted.org.nz/disclose-document/e645728b8ed83335/20260420-Russell-Investment-Funds-PDS-Listed-Real-Assets.pdf ## Fund data - **Annual fund charge:** 1.08% p.a. (from the latest Quarterly Fund Update) - **Risk indicator:** 5/7 on the FMA-mandated standardised scale (1 = lower risk, 7 = higher risk) - **Fund size (AUM):** NZ$168 million - **Asset mix:** 98% growth assets · 2% income assets - **Fund started:** 17 March 2022 - **Minimum initial investment:** NZ$5,000 ## Top 10 holdings 1. Nextera Energy Inc — 5.12% 2. Transurban Group Ordinary Shares Units Stapled Securities — 4.49% 3. Aena Sme Ord Shs — 4.31% 4. Cheniere Energy Inc — 3.13% 5. Targa Resources In Com — 3.11% 6. Xcel Energy Inc — 3.04% 7. Getlink Se — 2.96% 8. Oneok Inc — 2.93% 9. National Grid — 2.64% 10. Iberdrola Sa — 2.50% Holdings are disclosed in every Quarterly Fund Update; the full portfolio holdings file is available via the FMA Disclose register. ## Additional terms (from PDS) - **Minimum subsequent investment:** NZ$500 - **Distribution cadence:** semi-annually - **Buy / sell spread:** 18 bps / 13 bps (transaction cost on subscription / redemption) ## Investment policy (from 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. ### 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. ### Exclusions - Prohibited Coal Companies (With Exceptions) - UNGC Principles Non-Compliance Source: Statement of Investment Policy and Objectives dated 2026-04-01. https://smartinvestor.sorted.org.nz/disclose-document/d77b59388ed1e9aa/20260401-Russell-SIPO.pdf ## Scheme disclosures (from OMI) Scheme-level. The same disclosures apply 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 of interest disclosed in OMI:** 2 ### Conflicts of interest (verbatim from 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. ### Related-party transactions - **Apex Investment Administration (NZ) Limited** (Both FundRock and Apex NZ are ultimately owned by Apex Group Limited (common ultimate owner)) — Administration manager services including registry, fund accounting and unit pricing for certain Funds - **Russell Investment Management Ltd** (Investment Manager appointed under Fund Hosting Agreement and Investment Management Agreement with FundRock) — Investment management services including selection of investment managers for the Funds Source: Other Material Information document dated 2026-03-31. https://smartinvestor.sorted.org.nz/disclose-document/f8bc4f2cf08b0792/20260401-Russell-Investment-Funds-OMI.pdf ## How to invest Available via: Russell Investments directly. Read the current Product Disclosure Statement (PDS) before investing. ## Sources - **FMA Disclose register** (primary): https://disclose-register.companiesoffice.govt.nz/search?searchType=ALL&q=Russell%20Investments%20Global%20Listed%20Infrastructure%20Fund - **Product Disclosure Statement:** /disclose-document/71a5f5ce374be0eb/20260420-Russell-Investment-Funds-PDS-Sustainable-Global-Shares-Funds.pdf - **Sorted Smart Investor** (cross-validation): https://smartinvestor.sorted.org.nz/kiwisaver-and-managed-funds/SCH10586/OFR10646/FND37498/ - **Manager website:** https://russellinvestments.com/nz ## Citations (authoritative primary sources) - FMA Disclose register — https://disclose-register.companiesoffice.govt.nz/ (publisher: Financial Markets Authority, NZ) - Inland Revenue — PIE / PIR rules — https://www.ird.govt.nz/roles/portfolio-investment-entities - Financial Markets Conduct Act 2013 — https://www.legislation.govt.nz/act/public/2013/0069/latest/DLM4090578.html - Sorted Smart Investor (cross-validation only) — https://smartinvestor.sorted.org.nz/ ## This file - **Canonical HTML:** https://managedfunds.nz/funds/russell/global-listed-infrastructure/ - **Markdown (this file):** https://managedfunds.nz/funds/russell/global-listed-infrastructure/markdown.md - **Structured data (JSON):** https://managedfunds.nz/funds/russell/global-listed-infrastructure/data.json - **First published:** 2026-05-08 - **Last refreshed:** 2026-05-22 - **Reuse licence:** citation with link back to the canonical HTML is granted. No paid redistribution. Full terms: https://managedfunds.nz/llms-policy.txt --- ManagedFundsNZ is independent. We are not a Financial Advice Provider. This page is general information sourced from the FMA Disclose register; it is not personalised financial advice. Read the current PDS and consider talking to a licensed adviser before investing.