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INVESTMENT GRADE INFRASTRUCTURE BOND FUND Overview • Actively managed portfolio comprised primarily of Investment Grade fixed income securities of issuers that own, operate or develop infrastructure assets in the United States • Portfolio managed by Nuveen Asset Management, LLC (“Nuveen” or the “Portfolio Manager”) Investment Grade Bonds Monthly Cash Distributions (5% Initial Target Yield) (Average rating of A) Duration and Active Currency Management Infrastructure – The Essential Backbone of Economic Activity Toll Roads Bridges Rail Ports K-12 Schools & Universities Hospitals Public Works Government Buildings Pipelines Electricity Water Infrastructure Renewable Energy Waste and Sewage Treatment Broadcast and Wireless Towers Satellite Systems Investment Highlights Strong Infrastructure Debt Experience of Nuveen • Nuveen has approximately $130 billion of assets under management as at September 30, 2014, including ~$95 billion in infrastructure debt securities, making them one of the largest active managers of infrastructure debt in the world • The Portfolio Manager believes that the dynamics of the infrastructure debt markets have been shifting over the past several years, creating new advantages for institutional investors with expertise in investing in infrastructure Opportunities in the Infrastructure Debt Market • The Portfolio Manager believes that infrastructure debt offers investors a more attractive risk / return profile than equivalently rated corporate bonds • Despite historically lower default rates, the infrastructure debt market has historically paid higher yields than corporate investment grade bonds and therefore provides attractive valuations versus corporate bonds Opportunity to capitalize on market inefficiencies More highly rated Compelling yield opportunity Attractive valuations Resilient in uncertain market conditions Infrastructure Debt has Offered Attractive Returns • The following chart illustrates the average rating, yield and duration on an indicative basis if the Portfolio had existed on December 12, 2014 Average Rating Yield to Worst Duration A 5.04% 5.50 years Barclays Long Term Corporate Bond Index A- / BBB+ 4.47% 13.67 years Barclays Corporate Index A- / BBB+ 3.15% 7.23 years Investment Grade Infrastructure Bond Fund Duration and Active Currency Management • Nuveen will seek to reduce the risk of rising interest rates by maintaining, under normal market conditions, a weighted average Portfolio duration of not more than six years • Currency exposure will be actively managed by Fiera Capital Disclosure: This fact sheet shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision. This investment may not be suitable for all investors. Commissions, trailing commissions, management fees and expenses all may be associated with this Investment. An investment in the Fund is not guaranteed, its value changes frequently and past performance may not be repeated. Investment Highlights – Continued Infrastructure Debt Securities Have Been Resilient During Uncertain Market Environments • The infrastructure industry is characterized by attractive fundamentals, including: inelastic demand, high barriers to entry, stable long-term cash flows, and low historical default rates • Infrastructure debt has historically not shown the significant upticks in defaults that corporate credits have experienced in market downturns and recessionary environments • As shown in the chart below, infrastructure debt has generated an average annualized return of 5.6% since 2000 with relatively low volatility Annualized Returns of Infrastructure Debt throughout Market Events 14% 12% Corporate Accounting Scandals 11.7% Debt Ceiling USA Downgrade 12.9% 10.7% 9.6% 10% 8% 9/11 Attacks 6% 5.2% Fed Funds Rate Raised 17 times 5.3% 4.5% 4% 3.5% 8.3% Municipal Default Scare 4.8% 3.4% 2.4% Liquidity Crisis 2% 6.8% Taper Tantrum 0% -2% -4% 2000 2001 2002 2003 2004 2005 2006 2007 (2.3%) (2.5%) 2008 2009 2010 2011 2012 2013 Barclays Municipal Bond Index Return. Bloomberg as at October 31, 2014. 2014 YTD Nuveen’s Well-Established Investment Process • • • Nuveen will seek to identify underrated and undervalued securities and sectors by using a team-based and research driven investment process Nuveen focuses on bottom-up, fundamental analysis of issuers, but also considers top-down, macro conditions and technical factors that may affect liquidity, valuations, and the prospective investment environment The following charts illustrate the composition of the Portfolio in respect of the credit rating distribution and sector distribution on an indicative basis if the Portfolio had existed on December 12, 2014 By Sector Oil/Gas 5.0% Education 4.7% Public Buildings 7.0% By Credit Rating AAA 5% Waste 3.0% Transportation 30.6% Below BBB20% Healthcare 8.3% Other 9.4% Public Improvements 10.3% BBB 5% Water/Sewer 11.4% Electric Utilities 10.3% CIBC National Bank Financial Inc. BMO Capital Markets Desjardins Securities Inc. Canaccord Genuity Dundee Securities Ltd. AA 40% A 30% Average Rating of A RBC Capital Markets TD Securities Inc. GMP Securities Inc. Raymond James Ltd. Mackie Research Capital Corporation Manulife Securities Incorporated Scotiabank Disclosure: This fact sheet shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision. This investment may not be suitable for all investors. Commissions, trailing commissions, management fees and expenses all may be associated with this Investment. An investment in the Fund is not guaranteed, its value changes frequently and past performance may not be repeated.