GLOBAL LISTED INFRASTRUCTURE

BENCHMARK & COMPANY

TOTAL RETURNS
May 31, 2018
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SUPPORTERS:

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CONTENTS LINKS
BENCHMARK RETURNS SECTOR USD ($) Local
Annualized Returns, Volatility & Click ($) Electric Utilities Click ($) Click (Loc)
Sharpe Ratios
Multiutilities Click ($) Click (Loc)
Private & listed Infrastructure v Click ($)
Global Equities & Bonds Chart Gas Utilities Click ($) Click (Loc)

Oil & Gas Distribution Click ($) Click (Loc)

Private & listed Infrastructure v Click ($)
Global Equities & Bonds (Y-o-Y Bar) Water Utilities Click ($) Click (Loc)

Ground Freight Click ($) Click (Loc)

MARKET CAP BREAKDOWN USD ($)
Telecom Infrastructure Click ($) Click (Loc)
Sectors & Top 20 Breakdown Click ($)
Ground Transportation Services Click ($) Click (Loc)
Index Frequency 5 Click ($)
Satellites Click ($) Click (Loc)
Index Frequency 4 Click ($)
Airports Click ($) Click (Loc)
Index Frequency 3 Click ($)
Highways & Railways Click ($) Click (Loc)

Index Frequency 2 Click ($) Marine Ports Click ($) Click (Loc)

Other Sectors Click ($) Click (Loc)

Country Click ($)
Infrastructure Investment Companies Click (Loc)
Regional Click ($)
Master Limited Partnerships (MLPs) Click (Loc)

Developed & Emerging Markets Click ($)

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GLOBAL INFRASTRUCTURE
BENCHMARK PERFORMANCE USD
 BENCHMARK ANNUALIZED TOTAL RETURNS
Index Description Month YTD 1 Year 3 Years 5 Years 7.5 Years 10 Years 12.5 Years 15 Years 17.5 Years
DJ Brookfield Global 0.05% -3.74% -0.72% 2.21% 6.14% 9.55% 6.50% 9.06% 11.27% -NA-
FTSE Global Core 50/50 -0.81% -3.17% 1.45% 5.93% 7.75% 9.69% -NA- -NA- -NA- -NA-
FTSE Global Core 0.51% -1.06% 2.95% 6.09% 7.97% 9.68% 6.76% -NA- -NA- -NA-
GPR Pure -0.69% -5.12% -1.85% 1.09% 5.78% 9.24% 6.52% 9.21% 12.41% 8.90%
GLIO Global Coverage -0.03% -1.76% 3.01% 5.45% 8.34% 10.37% 6.35% 9.02% 11.13% 9.46%

Equities
FTSE Global Equities 0.42% 0.55% 12.81% 8.21% 9.60% 9.83% 5.79% 7.31% -NA- -NA-
MSCI World Equities 0.72% 0.77% 12.18% 8.26% 10.01% 10.65% 5.98% 7.10% 8.85% 5.77%

Bonds
JPM Global Bonds 0.37% 1.06% 3.50% 3.30% 1.60% 1.66% 2.65% 3.87% 3.69% 4.87%
Source: Reuters

Green = better comparative performance during investment horizon

Yellow = worse comparative performance during investment horizon

Institutional Investing in Infrastructure (i3) is a monthly electronic publication written for the members of the global institutional real estate
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BENCHMARK VOLATILITY
Index Description 3 Years 5 Years 7.5 Years 10 Years 12.5 Years 15 Years 17.5 Years
DJ Brookfield Global 10.93% 10.56% 10.21% 13.65% 13.09% 12.75% -NA-
FTSE Global Core 50/50 9.82% 9.74% 9.61% -NA- -NA- -NA- -NA-
FTSE Global Core 9.40% 9.35% 9.14% 11.31% -NA- -NA- -NA-
GPR Pure 11.51% 10.79% 11.04% 14.70% 14.25% 14.09% 16.21%
GLIO Global Coverage 9.80% 9.65% 9.78% 12.72% 12.09% 11.74% 12.11%

Equities
FTSE Global Equities 10.56% 10.17% 12.13% 16.84% 15.82% -NA- -NA-
MSCI World Equities 10.43% 10.06% 11.76% 16.14% 15.10% 14.27% 15.03%

Bonds
JPM Global Bonds 5.46% 5.10% 5.06% 6.15% 6.18% 6.46% 6.54%
Source: Reuters

Green = lower comparative volatility during investment horizon

Yellow = higher comparative volatility during investment horizon

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BENCHMARK SHARPE RATIOS
Index Description 3 Years 5 Years 7.5 Years 10 Years 12.5 Years 15 Years 17.5 Years
DJ Brookfield Global 0.20 0.58 0.94 0.48 0.69 0.88 -NA-
FTSE Global Core 50/50 0.60 0.80 1.01 -NA- -NA- -NA- -NA-
FTSE Global Core 0.65 0.85 1.06 0.60 -NA- -NA- -NA-
GPR Pure 0.09 0.54 0.84 0.44 0.65 0.88 0.55
GLIO Global Coverage 0.56 0.86 1.06 0.50 0.75 0.95 0.78

Equities
FTSE Global Equities 0.78 0.94 0.81 0.34 0.46 -NA- -NA-
MSCI World Equities 0.79 1.00 0.91 0.37 0.47 0.62 0.38

Bonds
JPM Global Bonds 0.60 0.31 0.33 0.43 0.63 0.57 0.75
Source: Reuters

Green = better comparative Sharpe ratio during investment horizon

Yellow = worse comparative Sharpe ratio during investment horizon

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ASSET CLASS COMPARISON
Infrastructure Listed & Private (Lagged to GFC) v Equities & Bonds
December 2002 to May 2018
700
Wilde/Preqin (Monthly Compound Total Return) 0.97%
GLIO (Monthly Compound Total Return) 0.93%

600 DJBGI (Monthly Compound Total Return) 0.93%

MSCI World (Monthly Compound Total Return) 0.74%
JPM Bonds (Monthly Compound Total Return) 0.34%

500

Private lagged to GFC

400

300

200

100
Important note: not intended as a private
v listed abitrage pricing comparison

-
Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17

Source: Reuters, GLIO & Wilde/Preqin

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ASSET CLASS TOTAL RETURNS
Global Infrastructure v Global Equities & Global Bonds
Year-on-Year US$ Total Returns: 2004 - 2018 (YTD)
50%

40%

30%

20%
Total Return for Year

10%

0%

-10%

-20% DJBGI (Average Annual Total Return) 13.1%

GLIO (Average Annual Total Return) 12.2%

-30%
Wilde/Preqin (Average Annual Total Return - Lagged 7 months) 12.1%

MSCI (Average Annual Total Return) 9.5%

-40%
JPM Global Bonds (Average Annual Total Return) 3.7%

-50%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (YTD)

Source: Reuters, GLIO, Wilde/Preqin 10 Back to

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BLENDED TOTAL RETURNS

Source: Reuters, GLIO, Wilde/Preqin 11 Back to

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ASSET CLASS DIVIDEND YIELDS
GLIO Coverage v Global Equities - Dividend Yield
December 2002 to May 2018
6

4
Dividend Yield (%)

0
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18

Source: GLIO, Reuters GLIO Coverage FTSE Global Equities GLIO Utilities
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ASSET CLASS MANDATE GROWTH
90
Growth of Global Listed Infrastructure
Assets under Management (US$bn AUM) 83.7

80

70
66.1

60
54.9
53.4
AUM US$ Billion

50

39.8
40

30
26.6

21.4
20 17.1

10

-
2010 2011 2012 2013 2014 2015 2016 2017
Year
Source: evestment & GLIO
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MARKET CAPITALIZATION
BREAKDOWNS (USD)
 SECTOR & TOP 20 BREAKDOWN
Sector MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta Company Indx MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta
Electric Utilities 682,745 31.5% 567,087 33.0% 4.0% 0.53 Union Pacific 2 110,722 5.10% 101,864 5.9% 2.1% 0.94
Ground Freight 316,817 14.6% 283,423 16.5% 1.8% 1.07 NextEra Energy 3 78,169 3.60% 67,225 3.9% 2.7% 0.55
Oil & Gas Distribution 268,375 12.4% 236,265 13.8% 5.2% 0.94 American Tower 4 61,112 2.82% 55,612 3.2% 2.2% 0.74
Multiutilities 156,635 7.2% 128,609 7.5% 5.1% 0.67 Canadian National Rail 2 61,479 2.83% 52,872 3.1% 1.7% 1.18
Telecom Infrastructure 141,635 6.5% 120,795 7.0% 2.7% 0.70 Duke Energy 3 54,090 2.49% 50,303 2.9% 4.6% 0.37
Ground Transportation Services 128,637 5.9% 103,610 6.0% 1.2% 0.88 Enbridge 4 52,944 2.44% 48,709 2.8% 6.7% 0.85
Gas Utilities 103,822 4.8% 65,884 3.8% 2.5% 0.70 CSX 2 56,592 2.61% 46,405 2.7% 1.4% 1.29
Airports 127,682 5.9% 61,998 3.6% 3.3% 0.77 Central Japan Rail 2 42,681 1.97% 42,681 2.5% 0.6% 0.93
Highways & Railways 103,872 4.8% 56,265 3.3% 4.3% 0.80 Southern Co 3 45,422 2.09% 42,242 2.5% 5.4% 0.26
Water Utilities 71,072 3.3% 49,057 2.9% 3.4% 0.80 Iberdrola 2 45,635 2.10% 41,984 2.4% 4.5% 0.72
Marine Ports 30,085 1.4% 14,713 0.9% 3.9% 0.86 Norfolk Southern 2 42,847 1.97% 39,848 2.3% 1.9% 1.21
Diversified 18,458 0.9% 13,948 0.8% 5.4% 0.77 Enel SpA 2 55,814 2.57% 39,628 2.3% 5.0% 0.91
Satellites 15,524 0.7% 12,660 0.7% 5.2% 0.89 East Japan Rail 2 38,177 1.76% 38,177 2.2% 1.3% 1.02
Construction & Engineering 5,284 0.2% 3,575 0.2% 1.1% 0.53 TransCanada 5 37,283 1.72% 37,283 2.2% 5.1% 0.90
Grand Total 2,170,643 100.0% 1,717,888 100.0% 3.6% 0.76 Dominion Energy 3 41,887 1.93% 36,442 2.1% 5.2% 0.42
Crown Castle Intl 4 43,204 1.99% 35,859 2.1% 4.0% 0.49
National Grid 5 37,214 1.71% 34,609 2.0% 5.5% 0.79
Exelon Corp 2 39,957 1.84% 32,365 1.9% 3.3% 0.41
Kinder Morgan 5 36,797 1.70% 30,174 1.8% 4.8% 0.79
ENGIE SA 2 38,476 1.77% 29,242 1.7% 5.2% 0.95
Grand Total 1,020,501 47.01% 903,524 52.6% 3.4% 0.79

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 INDEX FREQUENCY BREAKDOWN
Company Indx MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta Company Indx MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta
TransCanada 5 37,283 1.72% 37,283 2.2% 5.1% 0.90 American Tower 4 61,112 2.82% 55,612 3.2% 2.2% 0.74
National Grid 5 37,214 1.71% 34,609 2.0% 5.5% 0.79 Enbridge 4 52,944 2.44% 48,709 2.8% 6.7% 0.85
Kinder Morgan 5 36,797 1.70% 30,174 1.8% 4.8% 0.79 Crown Castle Intl 4 43,204 1.99% 35,859 2.1% 4.0% 0.49
PG&E 5 22,377 1.03% 19,244 1.1% 0.0% 0.49 ONEOK 4 28,019 1.29% 23,256 1.4% 4.7% 1.00
Williams Co 5 22,230 1.02% 18,006 1.0% 5.1% 1.10 Sempra Energy 4 28,139 1.30% 21,948 1.3% 3.4% 0.63
Transurban 5 19,981 0.92% 17,584 1.0% 4.8% 0.53 PSE&G 4 26,766 1.23% 21,681 1.3% 3.4% 0.61
Aena 5 28,768 1.33% 14,097 0.8% 4.0% 0.69 Con Edison 4 23,842 1.10% 20,504 1.2% 3.7% 0.37
Atlantia 5 23,896 1.10% 13,621 0.8% 4.9% 0.76 Pembina Pipeline 4 17,504 0.81% 17,504 1.0% 5.1% 1.05
Snam 5 14,205 0.65% 9,092 0.5% 6.1% 0.48 Edison Intl 4 20,252 0.93% 17,417 1.0% 3.9% 0.53
Inter Pipeline 5 7,257 0.33% 7,257 0.4% 6.9% 1.09 SBA Communications 4 18,207 0.84% 14,930 0.9% 0.0% 0.85
Getlink (Eurotunnel) 5 7,441 0.34% 6,325 0.4% 2.6% 0.93 American Water Works 4 14,470 0.67% 11,287 0.7% 2.2% 0.50
Enagas 5 6,357 0.29% 6,039 0.4% 6.4% 0.46 Sydney Airport 4 12,412 0.57% 10,302 0.6% 5.0% 0.54
Aeroports de Paris (ADP) 5 20,643 0.95% 5,780 0.3% 1.9% 0.71 APA Group 4 7,758 0.36% 6,517 0.4% 5.3% 0.81
Auckland Intl Airport 5 5,569 0.26% 4,344 0.3% 3.2% 1.26 INWIT 4 4,381 0.20% 4,381 0.3% 3.0% 0.72
Zurich Airport 5 6,458 0.30% 4,004 0.2% 3.1% 0.90 Cellnex Telecom 4 5,871 0.27% 3,582 0.2% 2.2% 0.55
Grupo Aero Pacifico (GAP) 5 4,049 0.19% 2,996 0.2% 5.9% 0.57 Fraport 4 8,672 0.40% 3,469 0.2% 1.9% 0.60
China Merchants Port Hldgs 5 7,479 0.34% 2,842 0.2% 4.5% 1.06 Aero del Sureste (ASUR) 4 4,384 0.20% 3,200 0.2% 2.1% 0.84
Atlas Arteria 5 3,370 0.16% 2,764 0.2% 3.3% 0.77 Enbridge Income 4 3,820 0.18% 3,056 0.2% 8.0% 0.96
Abertis Infraestructuras 5 21,226 0.98% 1,698 0.1% 4.4% 0.57 SABESP 4 4,800 0.22% 2,400 0.1% 3.9% 0.82
Jiangsu Expressway 5 1,845 0.08% 1,512 0.1% 4.6% 0.54 Beijing Cptl Intl Airport 4 2,779 0.13% 2,168 0.1% 2.6% 0.57
Grand Total 334,447 15.41% 239,270 13.9% 4.5% 0.77 Hutchison Port Hldgs 4 2,396 0.11% 1,461 0.1% 9.6% 0.93
SIAS 4 3,671 0.17% 1,101 0.1% 2.5% 1.06
Westshore Terminals 4 1,247 0.06% 299 0.0% 2.8% 1.43
Grand Total 396,651 18.27% 330,643 19.2% 3.9% 0.76

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 INDEX FREQUENCY BREAKDOWN
Company Indx MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta Index Frequency No.Co's MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta
NextEra Energy 3 78,169 3.60% 67,225 3.9% 2.7% 0.55 Companies in 2 Indices 63 926,381 42.7% 736,103 42.8% 2.9% 0.81
Duke Energy 3 54,090 2.49% 50,303 2.9% 4.6% 0.37 Companies in 3 Indices 36 497,999 22.9% 400,954 23.3% 3.9% 0.67
Southern Co 3 45,422 2.09% 42,242 2.5% 5.4% 0.26 Companies in 4 Indices 23 396,651 18.3% 330,643 19.2% 3.9% 0.76
Dominion Energy 3 41,887 1.93% 36,442 2.1% 5.2% 0.42 Companies in 5 Indices 20 334,447 15.4% 239,270 13.9% 4.5% 0.77
American Elec Power 3 33,467 1.54% 29,116 1.7% 3.7% 0.44 Companies in 1 Index 1 15,165 0.7% 10,919 0.6% 4.0% 0.61
XCEL Energy 3 23,163 1.07% 18,531 1.1% 3.3% 0.45 Grand Total 2,170,643 100.0% 1,717,888 100.0% 3.6% 0.76
HK & China Gas 3 30,243 1.39% 17,541 1.0% 2.1% 0.71
PPL Corp 3 19,098 0.88% 16,424 1.0% 6.0% 0.55
WEC Energy 3 19,926 0.92% 16,340 1.0% 3.5% 0.44
Cheniere Energy 3 16,529 0.76% 14,546 0.8% 0.0% 1.25 Companies in 1 Index
Eversource Energy 3 18,088 0.83% 13,928 0.8% 3.5% 0.51 1% Number of
Red Electrica 3 10,516 0.48% 8,413 0.5% 5.5% 0.60 occasions a
TERNA 3 10,631 0.49% 7,442 0.4% 4.9% 0.54 company is in
SES 3 7,936 0.37% 7,381 0.4% 4.6% 1.21 an index by
United Utilities 3 7,039 0.32% 6,687 0.4% 5.1% 0.99 Companies in 5
Indices free float
NiSource 3 9,178 0.42% 6,424 0.4% 3.1% 0.50 14%
Severn Trent 3 6,262 0.29% 5,824 0.3% 4.4% 1.02
Aqua America 3 6,173 0.28% 5,062 0.3% 2.4% 0.71
Guangdong Investment 3 11,018 0.51% 4,848 0.3% 3.7% 0.61
Vopak NV 3 6,267 0.29% 3,259 0.2% 2.5% 0.84
Companies in 4
CCR SA 3 5,587 0.26% 3,185 0.2% 5.6% 0.94 Companies in 2
Indices
Eutelsat Comms 3 4,464 0.21% 2,634 0.2% 7.4% 0.61 16% Indices
Italgas 3 4,213 0.19% 2,528 0.1% 4.7% - 44%
Telesites SAB 3 2,325 0.11% 2,325 0.1% 0.0% -
AusNet Services 3 4,444 0.20% 2,178 0.1% 5.7% 0.84
Elia System 3 3,853 0.18% 1,849 0.1% 2.1% 0.22
COSCO Shipping Ports 3 2,942 0.14% 1,618 0.1% 3.1% 0.66
Aero del Centro Norte (OMA) 3 1,601 0.07% 1,601 0.1% 4.3% 1.05 Companies in 3
ASTM 3 2,279 0.10% 934 0.1% 2.4% 1.10 Indices
EI Towers 3 1,526 0.07% 916 0.1% 4.4% 0.75 25%
Shenzhen Expressway 3 784 0.04% 729 0.0% 4.5% 0.74
Westports Hldgs 3 2,956 0.14% 650 0.0% 4.2% 0.35
Hamburger Hafen Logistik 3 1,780 0.08% 605 0.0% 3.2% 0.75
InfraREIT 3 939 0.04% 592 0.0% 4.7% 0.53
RAI Way 3 1,324 0.06% 463 0.0% 4.9% 0.87
Hopewell Highway Infra 3 1,878 0.09% 169 0.0% 2.8% 0.29
Grand Total 497,999 22.94% 400,954 23.3% 3.9% 0.67

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 INDEX FREQUENCY BREAKDOWN
Company Indx MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta
Union Pacific 2 110,722 5.10% 101,864 5.9% 2.1% 0.94 Toho Gas 2 3,362 0.15% 3,161 0.2% 1.5% 0.53
Canadian National Rail 2 61,479 2.83% 52,872 3.1% 1.7% 1.18 Macquarie Infra Corp (MIC) 2 3,293 0.15% 3,029 0.2% 10.3% 0.93
CSX 2 56,592 2.61% 46,405 2.7% 1.4% 1.29 ONE Gas 2 3,938 0.18% 2,835 0.2% 2.5% 0.54
Central Japan Rail 2 42,681 1.97% 42,681 2.5% 0.6% 0.93 Spire Inc 2 3,588 0.17% 2,834 0.2% 3.2% 0.30
Iberdrola 2 45,635 2.10% 41,984 2.4% 4.5% 0.72 Intl Container Terminal 2 3,270 0.15% 2,812 0.2% 3.0% 0.72
Norfolk Southern 2 42,847 1.97% 39,848 2.3% 1.9% 1.21 Uniti Group 2 3,685 0.17% 2,727 0.2% 11.4% 0.64
Enel SpA 2 55,814 2.57% 39,628 2.3% 5.0% 0.91 Beijing Enterprises 2 6,975 0.32% 2,650 0.2% 2.3% 1.03
East Japan Rail 2 38,177 1.76% 38,177 2.2% 1.3% 1.02 China Resource Gas 2 8,449 0.39% 2,366 0.1% 1.9% 0.86
Exelon Corp 2 39,957 1.84% 32,365 1.9% 3.3% 0.41 Bangkok Express & Metro 2 3,918 0.18% 2,155 0.1% 1.6% -
ENGIE SA 2 38,476 1.77% 29,242 1.7% 5.2% 0.95 Northwestern 2 2,695 0.12% 2,102 0.1% 4.0% 0.48
Canadian Pacific Rail 2 27,694 1.28% 27,694 1.6% 1.0% 1.33 Inmarsat PLC 2 2,301 0.11% 1,864 0.1% 6.5% 0.62
CLP Hldgs 2 26,539 1.22% 18,843 1.1% 3.6% 0.42 Shenzhen Intl Hldgs 2 4,452 0.21% 1,825 0.1% 2.6% 0.98
SSE 2 18,473 0.85% 15,148 0.9% 6.9% 0.71 American States Water 2 2,067 0.10% 1,592 0.1% 1.8% 0.82
DTE Energy 2 18,589 0.86% 14,314 0.8% 3.5% 0.43 Zhejiang Expressway 2 1,435 0.07% 1,435 0.1% 6.8% 0.89
West Japan Rail 2 13,959 0.64% 13,959 0.8% 2.0% 0.95 SemGroup 2 1,999 0.09% 1,420 0.1% 7.5% 1.13
Fortis 2 13,511 0.62% 13,511 0.8% 4.1% 0.27 California Water Service 2 1,935 0.09% 1,374 0.1% 1.9% 0.90
First Energy 2 16,415 0.76% 13,460 0.8% 4.2% 0.54 NW Natural 2 1,721 0.08% 1,325 0.1% 3.2% 0.53
Tokyo Gas 2 12,501 0.58% 11,001 0.6% 1.9% 0.59 Interconexion Electrica 2 5,431 0.25% 1,303 0.1% 3.0% 1.00
Centrica 2 10,891 0.50% 10,237 0.6% 8.2% 0.80 Metro Pacific Invest 2 2,789 0.13% 1,004 0.1% 2.4% 0.80
Targa Resources 2 10,673 0.49% 9,179 0.5% 7.5% 1.27 Redes Energeticas (REN) 2 1,852 0.09% 982 0.1% 7.2% 0.63
Airports of Thailand 2 30,590 1.41% 9,177 0.5% 1.3% 0.95 SJW Group 2 1,300 0.06% 910 0.1% 1.8% 0.66
CenterPoint Energy 2 11,274 0.52% 9,132 0.5% 4.3% 0.56 Qingdao Port 2 878 0.04% 878 0.1% 3.0% 0.99
MTR 2 33,821 1.56% 8,793 0.5% 2.5% 0.61 TAV Havalimanlari 2 1,757 0.08% 861 0.1% 5.1% 0.62
Kansas City Southern 2 10,994 0.51% 8,575 0.5% 1.3% 0.94 Loral Space & Comms 2 823 0.04% 782 0.0% 0.0% 1.14
Atmos Energy 2 9,908 0.46% 7,431 0.4% 2.2% 0.61 Towngas China 2 2,718 0.13% 707 0.0% 2.0% 0.98
Aurizon Hldgs 2 6,490 0.30% 6,166 0.4% 5.3% 0.64 Jasa Marga Persero 2 2,324 0.11% 697 0.0% 1.4% 0.91
Keyera 2 5,783 0.27% 5,783 0.3% 4.6% 1.10 Aguas Andinas 2 3,371 0.16% 607 0.0% 6.1% 0.57
ENN Energy Hldgs 2 11,166 0.51% 5,695 0.3% 1.3% 1.20 Vector 2 2,365 0.11% 591 0.0% 4.8% 0.60
AK Transneft 2 4,256 0.20% 4,256 0.2% 2.5% 0.65 Yuexiu Transport Infra 2 1,318 0.06% 448 0.0% 5.8% 0.76
Pennon Group 2 4,171 0.19% 4,171 0.2% 4.9% 0.84 Dalian Port 2 868 0.04% 286 0.0% 2.2% 0.90
Prom y Op de Infra (PINFRA) 2 3,406 0.16% 3,406 0.2% 1.1% 0.77 Anhui Expressway 2 344 0.02% 251 0.0% 4.7% 0.58
Beijing Enterprises Water 2 5,676 0.26% 3,292 0.2% 3.3% 1.17 Grand Total 926,381 42.68% 736,103 42.8% 2.9% 0.81

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 COUNTRY & REGIONAL BREAKDOWNS
Country MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta Market MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta
USA 1,066,562 49.1% 910,597 53.0% 3.3% 0.68 Developed 2,074,896 95.59% 1,667,992 97.1% 3.6% 0.76
Canada 228,523 10.5% 213,969 12.5% 4.1% 1.02 Emerging 95,747 4.41% 49,896 2.9% 2.9% 0.76
Japan 110,680 5.1% 108,978 6.3% 1.2% 0.80 Grand Total 2,170,643 100.00% 1,717,888 100.0% 3.6% 0.76
Spain 133,538 6.2% 86,731 5.0% 4.5% 0.60
Region MC $Mn MC Wght FF MC $Mn FF Wght Yield Beta
Italy 121,939 5.6% 80,105 4.7% 4.9% 0.80
Americas 1,330,038 61.3% 1,145,589 66.7% 3.4% 0.75
UK 86,351 4.0% 78,540 4.6% 6.0% 0.83
EMEA 455,684 21.0% 316,022 18.4% 4.9% 0.74
Hong Kong 154,675 7.1% 71,638 4.2% 2.8% 0.81
APAC 322,531 14.9% 205,834 12.0% 2.0% 0.79
Australia 54,456 2.5% 45,509 2.6% 4.9% 0.69
Oceania 62,389 2.9% 50,444 2.9% 4.8% 0.75
France 71,025 3.3% 43,981 2.6% 4.5% 0.80
Grand Total 2,170,643 100.0% 1,717,888 100.0% 3.6% 0.76
Mexico 15,765 0.7% 13,528 0.8% 2.6% 0.81
Thailand 34,508 1.6% 11,332 0.7% 1.3% 0.95 Thailand
Mexico 1%
Australia France
Luxembourg 7,936 0.4% 7,381 0.4% 4.6% 1.21 3%
1% Country
3%
China 8,934 0.4% 7,261 0.4% 4.1% 0.74 breakdown by
Hong Kong
free float mkt cap
Brazil 10,387 0.5% 5,584 0.3% 4.9% 0.88 4%

New Zealand 7,934 0.4% 4,935 0.3% 3.4% 0.93 UK

5%
Russia 4,256 0.2% 4,256 0.2% 2.5% 0.65
Germany 10,452 0.5% 4,074 0.2% 2.1% 0.68
Italy
Switzerland 6,458 0.3% 4,004 0.2% 3.1% 0.90 5%
USA
Philippines 6,059 0.3% 3,816 0.2% 2.8% 0.76 53%
Spain
Netherlands 6,267 0.3% 3,259 0.2% 2.5% 0.84 5%
Belgium 3,853 0.2% 1,849 0.1% 2.1% 0.22
Singapore 2,396 0.1% 1,461 0.1% 9.6% 0.93
Japan
Columbia 5,431 0.3% 1,303 0.1% 3.0% 1.00 6%
Portugal 1,852 0.1% 982 0.1% 7.2% 0.63
Turkey 1,757 0.1% 861 0.1% 5.1% 0.62
Indonesia 2,324 0.1% 697 0.0% 1.4% 0.91 Canada
Malaysia 2,956 0.1% 650 0.0% 4.2% 0.35 12%

Chile 3,371 0.2% 607 0.0% 6.1% 0.57

Grand Total 2,170,643 100.0% 1,717,888 100.0% 3.6% 0.76
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SECTOR TOTAL RETURNS
USD

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 COVERAGE & SECTORS
Coverage & Sectors FF MC $Mn FF Wght Yield Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs

GLIO Global Coverage 1,717,888 100.0% 3.6% 0.0% -1.8% 3.0% 5.5% 8.3% 10.4% 6.3% 9.0% 11.1% 9.5%

Utilities 810,637 47.2% 3.8% -2.6% -5.1% -4.2% 5.3% 7.8% 9.0% 4.6% 7.4% 9.4% 7.9%
Electric Utilities 567,087 33.0% 4.0% -3.3% -3.7% -1.5% 7.7% 10.2% 9.9% 5.5% 8.0% 10.0% 8.4%
Multi-utilities 128,609 7.5% 5.1% -5.1% -3.4% -7.3% -0.4% 3.9% 3.4% -2.9% 3.3% 7.0% 5.0%
Gas Utilities 65,884 3.8% 2.5% 2.7% 12.3% 18.5% 9.7% 9.2% 12.1% 10.7% 11.4% 12.3% 11.9%
Water Utilities 49,057 2.9% 3.4% -1.9% -5.3% 0.5% 6.0% 8.1% 12.1% 8.2% 10.2% 12.3% 11.5%

Oil & Gas Distribution 236,265 13.8% 5.2% 3.8% -7.6% -2.3% -7.3% 0.5% 6.8% 5.2% 7.3% 11.7% 9.2%

Transportation 520,009 30.3% 2.9% 2.8% 3.6% 15.6% 11.6% 12.7% 14.5% 10.3% 12.6% 14.2% 13.2%
Ground Freight 283,423 16.5% 1.8% 6.7% 6.6% 21.4% 15.3% 14.1% 16.9% 12.8% 16.4% 18.0% 17.9%
Ground Transport Services 103,610 6.0% 1.2% 2.8% 6.4% 12.9% 6.4% 10.4% 10.8% 6.3% 6.8% 7.6% 6.0%
Highways & Railways 56,265 3.3% 4.3% -4.2% -6.4% 7.1% 7.6% 9.6% 10.1% 6.4% 8.5% 11.9% 14.9%
Airports 61,998 3.6% 3.3% -4.2% -2.7% 6.3% 14.5% 19.9% 19.4% 13.7% 15.7% 18.7% 16.0%
Marine Ports 14,713 0.9% 3.9% -1.0% -9.8% -6.9% -8.2% -2.8% -0.1% 0.4% 6.9% 12.0% 12.1%

Telecom Infrastructure 120,795 7.0% 2.7% 1.4% -2.7% 7.9% 13.8% 13.0% 16.1% 12.3% 14.3% 21.0% 9.7%
Satellites 12,660 0.7% 5.2% 3.1% -0.5% -27.6% -17.9% -5.7% -1.9% -0.3% 4.5% 11.1% 5.2%

Diversified 13,948 0.8% 5.4% -3.4% -15.8% -15.9% -0.8% 9.6% 17.2% 6.0% 6.3% 12.2% 16.3%
Construction & Engineering 3,575 0.2% 1.1% -10.5% -7.7% -8.4% -3.3% 1.4% 9.8% 7.7% 18.6% 17.3% 22.1%
Source: Reuters

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COMPANY TOTAL RETURNS
USD

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 ELECTRIC UTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
NextEra Energy USA 3 78,169 67,225 11.9% 2.7% 0.55 1.2% 6.9% 19.6% 20.6% 20.3% 20.9% 13.1% 15.2% 15.1% 13.4%
Duke Energy USA 3 54,090 50,303 8.9% 4.6% 0.37 -2.6% -6.1% -5.9% 5.1% 7.4% 10.1% 8.5% 9.1% 10.8% 4.7%
Southern Co USA 3 45,422 42,242 7.4% 5.4% 0.26 -1.3% -4.1% -6.7% 5.8% 5.3% 7.2% 7.2% 7.0% 7.3% 10.1%
Iberdrola Spain 2 45,635 41,984 7.4% 4.5% 0.72 -8.6% -6.6% -7.0% 5.6% 11.0% 6.2% -1.7% 5.6% 8.1% 9.8%
Enel SpA Italy 2 55,814 39,628 7.0% 5.0% 0.91 -13.7% -9.1% 6.6% 9.0% 12.6% 7.2% 0.3% 4.4% 6.2% 5.4%
Dominion Energy USA 3 41,887 36,442 6.4% 5.2% 0.42 -2.3% -18.9% -17.0% 0.9% 6.8% 10.2% 7.6% 8.5% 9.1% 8.7%
Exelon Corp USA 2 39,957 32,365 5.7% 3.3% 0.41 5.2% 6.9% 18.0% 11.0% 9.8% 5.1% -3.2% 2.2% 6.5% 5.2%
American Elec Power USA 3 33,467 29,116 5.1% 3.7% 0.44 -2.0% -5.9% -1.9% 10.4% 12.3% 13.5% 9.5% 9.6% 10.4% 7.0%
PSE&G USA 4 26,766 21,681 3.8% 3.4% 0.61 1.6% 3.9% 22.4% 11.7% 14.3% 12.0% 6.1% 8.4% 10.6% 9.9%
Con Edison USA 4 23,842 20,504 3.6% 3.7% 0.37 -3.3% -8.0% -4.0% 11.4% 10.3% 10.7% 11.2% 9.1% 8.9% 9.3%
PG&E USA 5 22,377 19,244 3.4% 0.0% 0.49 -6.0% -3.3% -35.6% -4.2% 2.5% 2.5% 4.7% 5.0% 9.9% 5.6%
CLP Hldgs Hong Kong 2 26,539 18,843 3.3% 3.6% 0.42 1.2% 4.2% -0.4% 10.4% 8.4% 7.4% 5.6% 9.2% 10.7% 10.8%
XCEL Energy USA 3 23,163 18,531 3.3% 3.3% 0.45 -2.8% -4.6% -2.0% 13.9% 13.6% 13.3% 12.3% 11.9% 12.1% 7.6%
Edison Intl USA 4 20,252 17,417 3.1% 3.9% 0.53 -5.1% -0.8% -21.3% 3.8% 9.3% 10.4% 4.8% 5.7% 12.5% 8.5%
WEC Energy USA 3 19,926 16,340 2.9% 3.5% 0.44 -0.9% -3.2% 4.0% 13.2% 13.0% 14.2% 13.8% 13.5% 14.0% 14.1%
SSE UK 2 18,473 15,148 2.7% 6.9% 0.71 -4.3% 4.1% 0.1% -4.9% 0.8% 6.6% 1.2% 6.1% 9.6% 9.7%
DTE Energy USA 2 18,589 14,314 2.5% 3.5% 0.43 -2.8% -5.6% -3.5% 12.6% 12.8% 16.0% 13.4% 11.8% 10.7% 10.7%
Eversource Energy USA 3 18,088 13,928 2.5% 3.5% 0.51 -4.4% -8.1% -5.0% 8.6% 10.1% 12.1% 12.0% 13.1% 12.5% 9.3%
Fortis Canada 2 13,511 13,511 2.4% 4.1% 0.27 -4.0% -11.4% 0.8% 5.6% 3.9% 4.1% 5.4% 7.1% 11.9% 14.6%
First Energy USA 2 16,415 13,460 2.4% 4.2% 0.54 1.1% 14.9% 23.0% 3.3% 2.0% 4.5% -3.4% 2.0% 4.0% 5.4%
Red Electrica Spain 3 10,516 8,413 1.5% 5.5% 0.60 -6.9% -12.5% -10.1% 1.0% 11.9% 12.1% 4.8% 12.3% 16.9% 17.0%
TERNA Italy 3 10,631 7,442 1.3% 4.9% 0.54 -12.0% -9.1% -2.6% 8.2% 8.7% 8.9% 7.5% 12.4%
AusNet Services Australia 3 4,444 2,178 0.4% 5.7% 0.84 -4.8% -10.9% 2.7% 7.5% 7.3% 12.2% 9.0%
Northwestern USA 2 2,695 2,102 0.4% 4.0% 0.48 -0.8% -7.8% -8.8% 5.3% 9.6% 13.1% 12.1% 9.1%
Elia System Belgium 3 3,853 1,849 0.3% 2.1% 0.22 2.1% 12.4% 10.4% 17.2% 11.6% 11.4% 7.5% 7.8%
Interconexion Electrica Columbia 2 5,431 1,303 0.2% 3.0% 1.00 -3.8% 4.1% 5.5% 18.7% 5.8% -2.3% 3.1% 9.1% 21.8%
Redes Energeticas (REN) Portugal 2 1,852 982 0.2% 7.2% 0.63 -6.0% -0.3% -2.6% 6.8% 6.7% 6.0% 1.2%
InfraREIT USA 3 939 592 0.1% 4.7% 0.53 0.2% 16.4% 16.4% -6.4%
Grand Total 682,745 567,087 100.0% 4.0% 0.53
Source: Reuters

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 MULTIUTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
National Grid UK 5 37,214 34,609 26.9% 5.5% 0.79 -1.0% -2.9% -14.5% -2.6% 4.1% 8.9% 4.1% 7.8% 9.9% 7.2%
ENGIE SA France 2 38,476 29,242 22.7% 5.2% 0.95 -7.9% -6.0% 8.5% -1.7% 1.5% -3.0% -7.6% 0.9%
Sempra Energy USA 4 28,139 21,948 17.1% 3.4% 0.63 -4.7% 0.4% -5.7% 2.7% 8.6% 14.0% 9.6% 10.5% 12.8% 12.2%
PPL Corp USA 3 19,098 16,424 12.8% 6.0% 0.55 -6.1% -10.4% -28.3% -1.0% 4.5% 6.9% -0.9% 4.4% 6.9% 6.2%
Centrica UK 2 10,891 10,237 8.0% 8.2% 0.80 -3.1% 10.5% -20.2% -17.8% -14.7% -6.3% -4.5% 0.1% 2.8% 1.8%
CenterPoint Energy USA 2 11,274 9,132 7.1% 4.3% 0.56 4.3% -5.9% -5.0% 13.7% 6.9% 11.7% 9.4% 10.5% 11.7% 3.4%
NiSource USA 3 9,178 6,424 5.0% 3.1% 0.50 3.7% 0.2% -0.0% 14.3% 21.0% 23.7% 18.3% 13.8% 12.9% 10.1%
Vector New Zealand 2 2,365 591 0.5% 4.8% 0.60 4.5% -0.1% 8.7% 8.8% 6.8% 10.4% 11.7% 8.1%
Grand Total 156,635 128,609 100.0% 5.1% 0.67
Source: Reuters

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 GAS UTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
HK & China Gas Hong Kong 3 30,243 17,541 26.6% 2.1% 0.71 3.2% 10.3% 13.7% 7.9% 6.0% 9.5% 8.5% 10.1% 12.7% 12.5%
Tokyo Gas Japan 2 12,501 11,001 16.7% 1.9% 0.59 1.8% 20.4% 7.0% 1.5% 2.1% 5.2% 5.9% 4.5% 5.8% 5.8%
Atmos Energy USA 2 9,908 7,431 11.3% 2.2% 0.61 3.3% 5.1% 9.5% 21.0% 19.2% 19.2% 16.6% 14.4% 13.3% 12.0%
APA Group Australia 4 7,758 6,517 9.9% 5.3% 0.81 4.8% 3.8% -2.3% 2.4% 7.3% 14.7% 17.2% 14.9% 16.5% 17.5%
ENN Energy Hldgs Hong Kong 2 11,166 5,695 8.6% 1.3% 1.20 11.0% 46.4% 102.5% 18.0% 14.6% 20.4% 22.1% 24.7% 28.5%
Toho Gas Japan 2 3,362 3,161 4.8% 1.5% 0.53 4.2% 16.2% -16.8% 1.7% 5.2% 5.5% 3.7% 5.4% 7.3% 9.0%
ONE Gas USA 2 3,938 2,835 4.3% 2.5% 0.54 8.3% 3.8% 8.9% 22.1%
Spire Inc USA 2 3,588 2,834 4.3% 3.2% 0.30 -1.2% -4.4% 3.6% 13.5% 12.3% 13.9% 10.1% 11.5% 11.4% 11.4%
Beijing Enterprises Hong Kong 2 6,975 2,650 4.0% 2.3% 1.03 9.8% -6.9% 19.3% -12.4% -5.9% -0.1% 6.0% 11.7% 15.5% 13.3%
Italgas Italy 3 4,213 2,528 3.8% 4.7% - -16.2% -11.1% 2.5%
China Resource Gas Hong Kong 2 8,449 2,366 3.6% 1.9% 0.86 4.1% 6.2% 26.3% 9.4% 9.5% 15.5% 15.6% 24.7% 24.1% 19.0%
NW Natural USA 2 1,721 1,325 2.0% 3.2% 0.53 -2.4% 1.9% 0.7% 13.9% 10.9% 6.6% 6.6% 8.4% 9.2% 9.5%
Grand Total 103,822 65,884 100.0% 2.5% 0.70
Source: Reuters

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 WATER UTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
American Water Works USA 4 14,470 11,287 23.0% 2.2% 0.50 -3.5% -8.2% 8.5% 18.8% 18.5% 20.7% 17.8%
United Utilities UK 3 7,039 6,687 13.6% 5.1% 0.99 0.8% -8.0% -18.7% -8.3% 2.3% 6.1% 1.6% 4.8% 7.3% 7.3%
Severn Trent UK 3 6,262 5,824 11.9% 4.4% 1.02 -1.0% -9.5% -14.9% -4.0% 0.8% 7.0% 4.2% 8.1% 10.4% 10.7%
Aqua America USA 3 6,173 5,062 10.3% 2.4% 0.71 -0.7% -10.5% 8.7% 12.3% 9.5% 12.6% 12.7% 6.3% 10.5% 12.1%
Guangdong Investment Hong Kong 3 11,018 4,848 9.9% 3.7% 0.61 8.2% 26.0% 21.7% 10.0% 17.6% 21.2% 17.5% 16.7% 19.5% 19.3%
Pennon Group UK 2 4,171 4,171 8.5% 4.9% 0.84 4.2% -4.6% -12.4% -4.7% 3.3% 4.2% 1.4% 7.3% 11.4% 11.2%
Beijing Enterprises Water Hong Kong 2 5,676 3,292 6.7% 3.3% 1.17 2.7% -22.2% -23.0% -9.1% 11.5% 12.2% 5.3% 33.0% 17.6% 0.5%
SABESP Brazil 4 4,800 2,400 4.9% 3.9% 0.82 -30.3% -30.2% -19.2% 9.2% -8.6% 2.6% 0.5% 12.0% 15.4% 9.6%
American States Water USA 2 2,067 1,592 3.2% 1.8% 0.82 1.5% -1.9% 25.3% 16.0% 18.9% 19.2% 15.8% 13.9% 13.5% 12.9%
California Water Service USA 2 1,935 1,374 2.8% 1.9% 0.90 4.4% -10.4% 18.3% 21.7% 18.2% 14.0% 11.4% 9.9% 10.6% 10.0%
Metro Pacific Invest Philippines 2 2,789 1,004 2.0% 2.4% 0.80 -10.2% -34.5% -28.3% -2.6% -8.4% 2.8% 1.0%
SJW Group USA 2 1,300 910 1.9% 1.8% 0.66 4.9% -0.1% 34.0% 30.7% 21.2% 16.0% 10.2% 10.2% 13.3% 10.1%
Aguas Andinas Chile 2 3,371 607 1.2% 6.1% 0.57 -9.4% -7.4% 10.3% 6.4% 0.7% 8.3% 8.9% 10.7% 14.5% 14.4%
Grand Total 71,072 49,057 100.0% 3.4% 0.80
Source: Reuters

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 OIL & GAS DISTRIBUTION
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Enbridge Canada 4 52,944 48,709 20.6% 6.7% 0.85 4.0% -18.3% -14.6% -9.2% -2.8% 5.2% 7.1% 9.5% 12.8% 13.1%
TransCanada Canada 5 37,283 37,283 15.8% 5.1% 0.90 -1.5% -13.2% -5.9% 3.2% 2.2% 6.5% 4.8% 6.6% 10.3% 13.1%
Kinder Morgan USA 5 36,797 30,174 12.8% 4.8% 0.79 5.4% -5.9% -8.2% -23.6% -11.8%
ONEOK USA 4 28,019 23,256 9.8% 4.7% 1.00 13.2% 30.9% 44.8% 24.8% 17.3% 21.2% 17.1% 19.8% 19.3% 16.9%
Williams Co USA 5 22,230 18,006 7.6% 5.1% 1.10 4.4% -10.8% -1.9% -14.2% -0.0% 10.0% 2.7% 7.2% 13.4% 3.1%
Pembina Pipeline Canada 4 17,504 17,504 7.4% 5.1% 1.05 9.5% -2.2% 14.4% 8.0% 7.0% 12.8% 13.7% 15.2% 17.5% 19.7%
Cheniere Energy USA 3 16,529 14,546 6.2% 0.0% 1.25 14.5% 23.7% 36.7% -4.2% 17.8% 39.2% 29.8% 5.1% 29.7% 27.1%
Targa Resources USA 2 10,673 9,179 3.9% 7.5% 1.27 3.5% 4.3% 14.6% -12.3% 0.4%
Snam Italy 5 14,205 9,092 3.8% 6.1% 0.48 -14.9% -14.6% -8.9% 4.2% 5.7% 6.2% 4.8% 8.8% 10.0%
Inter Pipeline Canada 5 7,257 7,257 3.1% 6.9% 1.09 5.1% -6.4% 2.0% -2.9% 2.2% 9.3% 13.4% 14.1% 17.7% 19.2%
Enagas Spain 5 6,357 6,039 2.6% 6.4% 0.46 -8.7% -7.1% -6.2% 1.8% 5.8% 9.9% 2.7% 7.5% 12.4%
Keyera Canada 2 5,783 5,783 2.4% 4.6% 1.10 4.3% 1.2% -1.4% -1.1% 3.2% 11.3% 15.5% 16.6% 21.6%
AK Transneft Russia 2 4,256 4,256 1.8% 2.5% 0.65 -0.0% -12.4% 2.5% 7.3% 6.8% 11.9% 7.2% 4.6% 14.8%
Enbridge Income Canada 4 3,820 3,056 1.3% 8.0% 0.96 2.8% -4.9% -2.1% -4.8% 3.5% 9.8% 13.7% 12.4%
SemGroup USA 2 1,999 1,420 0.6% 7.5% 1.13 2.5% -12.8% -11.6% -27.0% -9.6% 2.6%
Towngas China Hong Kong 2 2,718 707 0.3% 2.0% 0.98 9.7% 22.2% 62.0% -0.1% 0.6% 11.1% 7.9% 6.5% 6.6%
Grand Total 268,375 236,265 100.0% 5.2% 0.94
Source: Reuters

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 GROUND FREIGHT
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Union Pacific USA 2 110,722 101,864 35.9% 2.1% 0.94 7.4% 7.6% 32.3% 14.9% 15.5% 19.1% 15.6% 19.8% 18.3% 17.6%
Canadian National Rail Canada 2 61,479 52,872 18.7% 1.7% 1.18 7.9% 1.4% 9.5% 14.2% 12.2% 15.6% 13.5% 14.0% 18.5% 19.0%
CSX USA 2 56,592 46,405 16.4% 1.4% 1.29 9.2% 18.4% 21.2% 26.3% 23.2% 19.2% 13.3% 20.4% 20.1% 18.8%
Norfolk Southern USA 2 42,847 39,848 14.1% 1.9% 1.21 6.2% 5.7% 24.7% 21.0% 17.4% 15.9% 11.2% 13.0% 16.3% 16.8%
Canadian Pacific Rail Canada 2 27,694 27,694 9.8% 1.0% 1.33 5.5% 5.4% 23.1% 6.5% 8.6% 17.2% 11.7% 14.3% 16.6%
Kansas City Southern USA 2 10,994 8,575 3.0% 1.3% 0.94 0.5% 2.2% 14.1% 7.3% 0.6% 12.6% 8.7% 13.0% 16.3% 16.1%
Aurizon Hldgs Australia 2 6,490 6,166 2.2% 5.3% 0.64 -3.5% -14.1% -16.4% -2.5% -0.4% 6.0%
Grand Total 316,817 283,423 100.0% 1.8% 1.07
Source: Reuters

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 GROUND TRANSPORTATION SERVICES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Central Japan Rail Japan 2 42,681 42,681 41.2% 0.6% 0.93 3.2% 16.1% 27.2% 6.7% 14.1% 15.2% 9.0% 8.3% 8.6% 7.8%
East Japan Rail Japan 2 38,177 38,177 36.8% 1.3% 1.02 3.2% 1.8% 4.7% 4.0% 7.2% 8.7% 4.3% 5.3% 6.5% 4.6%
West Japan Rail Japan 2 13,959 13,959 13.5% 2.0% 0.95 1.4% -0.4% 5.6% 8.6% 13.8% 12.6% 6.8% 7.3% 6.8% 4.6%
MTR Hong Kong 2 33,821 8,793 8.5% 2.5% 0.61 1.8% -2.1% 1.2% 12.1% 12.7% 10.3% 9.1% 12.3% 14.9% 11.4%
Grand Total 128,637 103,610 100.0% 1.2% 0.88
Source: Reuters

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 AIRPORTS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Aena Spain 5 28,768 14,097 22.7% 4.0% 0.69 -7.2% -2.5% -2.1% 25.2%
Sydney Airport Australia 4 12,412 10,302 16.6% 5.0% 0.54 2.3% -0.1% 4.3% 13.3% 15.2% 19.2% 18.2% 17.6% 23.4%
Airports of Thailand Thailand 2 30,590 9,177 14.8% 1.3% 0.95 -5.2% 2.6% 74.0% 36.3% 30.8% 48.6% 33.0% 29.7%
Aeroports de Paris (ADP) France 5 20,643 5,780 9.3% 1.9% 0.71 -5.3% 9.6% 38.8% 21.1% 20.1% 16.9% 9.2%
Auckland Intl Airport New Zealand 5 5,569 4,344 7.0% 3.2% 1.26 3.0% 2.6% -2.9% 14.2% 20.3% 23.5% 17.5% 17.4% 19.4% 22.3%
Zurich Airport Switzerland 5 6,458 4,004 6.5% 3.1% 0.90 0.1% -5.1% -12.5% 13.7% 19.6% 18.3% 11.8% 18.5% 29.8% 13.5%
Fraport Germany 4 8,672 3,469 5.6% 1.9% 0.60 -1.6% -13.1% 17.9% 16.0% 12.8% 9.1% 6.2% 8.0% 12.6%
Aero del Sureste (ASUR) Mexico 4 4,384 3,200 5.2% 2.1% 0.84 -11.5% -12.8% -18.0% 5.2% 8.5% 19.4% 15.8% 17.3% 21.7% 18.3%
Grupo Aero Pacifico (GAP) Mexico 5 4,049 2,996 4.8% 5.9% 0.57 -17.6% -16.1% -11.1% 9.9% 13.4% 15.0% 13.6%
Beijing Cptl Intl Airport China 4 2,779 2,168 3.5% 2.6% 0.57 7.9% -1.9% 3.2% 9.5% 19.5% 16.5% 5.4% 12.3% 14.9% 14.3%
Aero del Centro Norte (OMA) Mexico 3 1,601 1,601 2.6% 4.3% 1.05 -9.3% -6.6% -8.0% 5.3% 10.3% 16.9% 10.9%
TAV Havalimanlari Turkey 2 1,757 861 1.4% 5.1% 0.62 -9.7% -14.6% 3.5% -12.2% -1.0% 3.9% -0.4%
Grand Total 127,682 61,998 100.0% 3.3% 0.77
Source: Reuters

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 HIGHWAYS & RAILWAYS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Transurban Australia 5 19,981 17,584 31.3% 4.8% 0.53 3.0% -5.7% 3.1% 9.9% 11.7% 13.7% 11.3% 11.2% 13.4% 13.7%
Atlantia Italy 5 23,896 13,621 24.2% 4.9% 0.76 -10.8% -6.2% 8.6% 8.5% 15.8% 11.9% 4.2% 7.8% 10.1% 14.2%
Getlink (Eurotunnel) France 5 7,441 6,325 11.2% 2.6% 0.93 -1.7% 7.8% 17.7% -1.2% 13.5% 8.2% -0.8%
CCR SA Brazil 3 5,587 3,185 5.7% 5.6% 0.94 -19.3% -42.3% -43.7% -13.0% -17.6% -7.6% -1.6% 7.6% 23.6%
Atlas Arteria Australia 5 3,370 2,764 4.9% 3.3% 0.77 3.7% 4.5% 21.3% 31.5% 27.7% 21.4%
Bangkok Express & Metro Thailand 2 3,918 2,155 3.8% 1.6% - 4.4% 9.5% 22.6%
Shenzhen Intl Hldgs Hong Kong 2 4,452 1,825 3.2% 2.6% 0.98 -0.5% 14.9% 34.9% 9.8% 13.3% 19.5% 11.7% 21.5% 18.3% 13.0%
Abertis Infraestructuras Spain 5 21,226 1,698 3.0% 4.4% 0.57 -2.9% -2.1% 21.2% 14.7% 11.6% 13.3% 4.5% 6.8% 11.5% 15.0%
Jiangsu Expressway China 5 1,845 1,512 2.7% 4.6% 0.54 9.7% -0.8% 8.5% 7.4% 9.4% 9.4% 12.0% 12.9% 14.6% 18.8%
Zhejiang Expressway China 2 1,435 1,435 2.6% 6.8% 0.89 -2.9% -8.9% -10.0% -8.3% 8.9% 6.8% 7.9% 9.3% 11.5% 17.4%
SIAS Italy 4 3,671 1,101 2.0% 2.5% 1.06 -23.2% -12.3% 47.5% 17.5% 14.7% 14.9% 6.9% 7.8% 10.5%
ASTM Italy 3 2,279 934 1.7% 2.4% 1.10 -15.5% -19.9% 36.8% 23.2% 20.1% 13.3% 6.6% 6.1% 8.5% 10.4%
Shenzhen Expressway China 3 784 729 1.3% 4.5% 0.74 2.9% 3.4% 13.6% 9.4% 27.6% 14.2% 10.9% 14.7% 15.1% 19.1%
Jasa Marga Persero Indonesia 2 2,324 697 1.2% 1.4% 0.91 -33.3% -12.6% -12.9% 7.2%
Yuexiu Transport Infra Hong Kong 2 1,318 448 0.8% 5.8% 0.76 4.1% 7.3% 10.9% 6.5% 13.9% 10.7% 10.2% 12.7% 15.0% 15.6%
Anhui Expressway China 2 344 251 0.4% 4.7% 0.58 -1.1% -11.9% -5.2% -6.1% 11.3% 2.9% 4.8% 7.9% 12.2% 18.2%
Grand Total 103,872 56,265 100.0% 4.3% 0.80
Source: Reuters

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 MARINE PORTS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Vopak NV Netherlands 3 6,267 3,259 22.2% 2.5% 0.84 -0.8% 14.6% 11.0% 2.0% -1.8% 3.2% 5.4% 12.7% 16.9% 14.3%
China Merchants Port Hldgs Hong Kong 5 7,479 2,842 19.3% 4.5% 1.06 1.4% -12.8% -15.9% -15.6% -3.3% -3.4% -2.9% 3.9% 10.3% 10.4%
Intl Container Terminal Philippines 2 3,270 2,812 19.1% 3.0% 0.72 -1.6% -21.6% -17.6% -10.4% -4.4% 9.1% 9.4% 21.3% 29.4% 34.1%
COSCO Shipping Ports Hong Kong 3 2,942 1,618 11.0% 3.1% 0.66 10.9% -5.8% -15.2% -6.9% -2.7% -1.5% -2.1% 0.1% 4.2% 6.2%
Hutchison Port Hldgs Singapore 4 2,396 1,461 9.9% 9.6% 0.93 -17.9% -31.0% -27.3% -18.8% -12.3%
Qingdao Port China 2 878 878 6.0% 3.0% 0.99 -3.0% 19.2% 41.9% 2.7%
Westports Hldgs Malaysia 3 2,956 650 4.4% 4.2% 0.35 1.8% -3.1% -5.0% -6.0%
Hamburger Hafen Logistik Germany 3 1,780 605 4.1% 3.2% 0.75 1.6% -14.3% 17.8% 6.2% 2.5% -4.4% -9.8%
Westshore Terminals Canada 4 1,247 299 2.0% 2.8% 1.43 2.5% -14.9% 13.2% -9.6% -5.5% 1.1% 5.7% 11.3% 18.7% 21.2%
Dalian Port China 2 868 286 1.9% 2.2% 0.90 3.2% -6.7% -2.5% -7.4% 14.3% 1.0% -1.9%
Grand Total 30,085 14,713 100.0% 3.9% 0.86
Source: Reuters

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 TELECOM INFRASTRUCTURE
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
American Tower USA 4 61,112 55,612 46.0% 2.2% 0.74 1.5% -2.5% 7.6% 16.6% 14.3% 16.1% 13.0% 14.9% 20.9% 9.8%
Crown Castle Intl USA 4 43,204 35,859 29.7% 4.0% 0.49 3.3% -5.3% 6.4% 12.9% 11.2% 15.4% 11.1% 12.6% 19.6% 10.4%
SBA Communications USA 4 18,207 14,930 12.4% 0.0% 0.85 -1.3% -3.2% 14.4% 12.2% 16.0% 20.5% 15.6% 18.8% 30.1% 8.6%
INWIT Italy 4 4,381 4,381 3.6% 3.0% 0.72 -6.7% 1.0% 26.8%
Cellnex Telecom Spain 4 5,871 3,582 3.0% 2.2% 0.55 -5.7% -1.1% 21.0% 15.1%
Uniti Group USA 2 3,685 2,727 2.3% 11.4% 0.64 16.4% 22.2% -4.3% 3.7%
Telesites SAB Mexico 3 2,325 2,325 1.9% 0.0% - -8.2% -8.0% 12.5%
EI Towers Italy 3 1,526 916 0.8% 4.4% 0.75 -2.6% -12.3% -5.6% 1.0% 11.4% 19.3% 6.6% 4.7%
RAI Way Italy 3 1,324 463 0.4% 4.9% 0.87 -9.7% -16.2% -0.1% 4.8%
Grand Total 141,635 120,795 100.0% 2.7% 0.70
Source: Reuters

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 SATELLITES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
SES Luxembourg 3 7,936 7,381 58.3% 4.6% 1.21 12.1% 13.6% -25.5% -17.0% -6.1% 0.6% 0.2% 5.0% 11.3% 5.4%
Eutelsat Comms France 3 4,464 2,634 20.8% 7.4% 0.61 -11.5% -17.2% -20.7% -12.7% -4.5% -3.2% -0.3%
Inmarsat PLC UK 2 2,301 1,864 14.7% 6.5% 0.62 -3.8% -23.2% -49.3% -27.6% -7.8% -4.7% -2.0% 3.2%
Loral Space & Comms USA 2 823 782 6.2% 0.0% 1.14 -1.2% -12.8% -2.8% -16.8% -8.6% -0.3% 13.9% 7.6%
Grand Total 15,524 12,660 100.0% 5.2% 0.89
Source: Reuters

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 OTHER SECTORS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Ferrovial Spain 1 15,165 10,919 78.3% 4.0% 0.61 -3.4% -8.9% -6.1% 1.8% 8.8% 16.0% 5.4% 5.6% 11.6% 15.9%
Macquarie Infra Corp (MIC) USA 2 3,293 3,029 21.7% 10.3% 0.93 4.8% -35.8% -45.0% -16.8% 0.2% 16.4% 7.3% 7.9%
Grand Total 18,458 13,948 100.0% 5.4% 0.77
Source: Reuters

Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Prom y Op de Infra (PINFRA) Mexico 2 3,406 3,406 95.3% 1.1% 0.77 -12.2% -10.0% -13.3% -5.8% -0.0% 13.4% 9.3% 42.3% 33.8% 36.5%
Hopewell Highway Infra Hong Kong 3 1,878 169 4.7% 2.8% 0.29 0.1% -4.4% 14.6% 19.0% 14.7% 5.8% 7.6% 9.3%
Construction & Engineering Total 5,284 3,575 100.0% 1.1% 0.53
Source: Reuters

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COMPANY TOTAL RETURNS
LOCAL CURRENCY

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 ELECTRIC UTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
NextEra Energy USA 3 78,169 67,225 11.9% 2.7% 0.55 1.2% 6.9% 19.6% 20.6% 20.3% 20.9% 13.1% 15.2% 15.1% 13.4%
Duke Energy USA 3 54,090 50,303 8.9% 4.6% 0.37 -2.6% -6.1% -5.9% 5.1% 7.4% 10.1% 8.5% 9.1% 10.8% 4.7%
Southern Co USA 3 45,422 42,242 7.4% 5.4% 0.26 -1.3% -4.1% -6.7% 5.8% 5.3% 7.2% 7.2% 7.0% 7.3% 10.1%
Iberdrola Spain 2 45,635 41,984 7.4% 4.5% 0.72 -5.4% -4.0% -10.4% 3.4% 13.3% 7.8% 1.2% 5.6% 8.2% 8.0%
Enel SpA Italy 2 55,814 39,628 7.0% 5.0% 0.91 -10.7% -6.5% 2.7% 6.7% 15.0% 8.7% 3.2% 4.4% 6.2% 3.6%
Dominion Energy USA 3 41,887 36,442 6.4% 5.2% 0.42 -2.3% -18.9% -17.0% 0.9% 6.8% 10.2% 7.6% 8.5% 9.1% 8.7%
Exelon Corp USA 2 39,957 32,365 5.7% 3.3% 0.41 5.2% 6.9% 18.0% 11.0% 9.8% 5.1% -3.2% 2.2% 6.5% 5.2%
American Elec Power USA 3 33,467 29,116 5.1% 3.7% 0.44 -2.0% -5.9% -1.9% 10.4% 12.3% 13.5% 9.5% 9.6% 10.4% 7.0%
PSE&G USA 4 26,766 21,681 3.8% 3.4% 0.61 1.6% 3.9% 22.4% 11.7% 14.3% 12.0% 6.1% 8.4% 10.6% 9.9%
Con Edison USA 4 23,842 20,504 3.6% 3.7% 0.37 -3.3% -8.0% -4.0% 11.4% 10.3% 10.7% 11.2% 9.1% 8.9% 9.3%
PG&E USA 5 22,377 19,244 3.4% 0.0% 0.49 -6.0% -3.3% -35.6% -4.2% 2.5% 2.5% 4.7% 5.0% 9.9% 5.6%
CLP Hldgs Hong Kong 2 26,539 18,843 3.3% 3.6% 0.42 1.1% 4.6% 0.3% 10.8% 8.7% 7.6% 5.6% 9.3% 10.7% 10.8%
XCEL Energy USA 3 23,163 18,531 3.3% 3.3% 0.45 -2.8% -4.6% -2.0% 13.9% 13.6% 13.3% 12.3% 11.9% 12.1% 7.6%
Edison Intl USA 4 20,252 17,417 3.1% 3.9% 0.53 -5.1% -0.8% -21.3% 3.8% 9.3% 10.4% 4.8% 5.7% 12.5% 8.5%
WEC Energy USA 3 19,926 16,340 2.9% 3.5% 0.44 -0.9% -3.2% 4.0% 13.2% 13.0% 14.2% 13.8% 13.5% 14.0% 14.1%
SSE UK 2 18,473 15,148 2.7% 6.9% 0.71 -1.0% 5.9% -2.9% -0.4% 3.5% 8.8% 5.2% 8.4% 11.1% 10.1%
DTE Energy USA 2 18,589 14,314 2.5% 3.5% 0.43 -2.8% -5.6% -3.5% 12.6% 12.8% 16.0% 13.4% 11.8% 10.7% 10.7%
Eversource Energy USA 3 18,088 13,928 2.5% 3.5% 0.51 -4.4% -8.1% -5.0% 8.6% 10.1% 12.1% 12.0% 13.1% 12.5% 9.3%
Fortis Canada 2 13,511 13,511 2.4% 4.1% 0.27 -2.9% -8.3% -3.2% 6.9% 8.7% 7.4% 8.3% 8.0% 11.5% 13.5%
First Energy USA 2 16,415 13,460 2.4% 4.2% 0.54 1.1% 14.9% 23.0% 3.3% 2.0% 4.5% -3.4% 2.0% 4.0% 5.4%
Red Electrica Spain 3 10,516 8,413 1.5% 5.5% 0.60 -3.6% -10.0% -13.4% -1.1% 14.3% 13.8% 7.8% 12.4% 16.9% 15.0%
TERNA Italy 3 10,631 7,442 1.3% 4.9% 0.54 -9.0% -6.5% -6.2% 6.0% 11.0% 10.5% 10.7% 12.5%
AusNet Services Australia 3 4,444 2,178 0.4% 5.7% 0.84 -5.1% -7.9% 1.0% 7.9% 12.5% 15.8% 11.5%
Northwestern USA 2 2,695 2,102 0.4% 4.0% 0.48 -0.8% -7.8% -8.8% 5.3% 9.6% 13.1% 12.1% 9.1%
Elia System Belgium 3 3,853 1,849 0.3% 2.1% 0.22 5.6% 15.6% 6.4% 14.8% 14.0% 13.0% 10.6% 7.9%
Interconexion Electrica Columbia 2 5,431 1,303 0.2% 3.0% 1.00 -2.2% -0.3% 3.3% 23.6% 15.0% 3.0% 8.2% 11.1% 22.2%
Redes Energeticas (REN) Portugal 2 1,852 982 0.2% 7.2% 0.63 -2.7% 2.6% -6.1% 4.6% 9.0% 7.6% 4.2%
InfraREIT USA 3 939 592 0.1% 4.7% 0.53 0.2% 16.4% 16.4% -6.4%
Grand Total 682,745 567,087 100.0% 4.0% 0.53
Source: Reuters

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 MULTIUTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
National Grid UK 5 37,214 34,609 26.9% 5.5% 0.79 2.5% -1.3% -17.1% 1.9% 6.9% 11.2% 8.3% 10.1% 11.4% 7.6%
ENGIE SA France 2 38,476 29,242 22.7% 5.2% 0.95 -4.7% -3.3% 4.6% -3.7% 3.6% -1.6% -4.9% 0.9%
Sempra Energy USA 4 28,139 21,948 17.1% 3.4% 0.63 -4.7% 0.4% -5.7% 2.7% 8.6% 14.0% 9.6% 10.5% 12.8% 12.2%
PPL Corp USA 3 19,098 16,424 12.8% 6.0% 0.55 -6.1% -10.4% -28.3% -1.0% 4.5% 6.9% -0.9% 4.4% 6.9% 6.2%
Centrica UK 2 10,891 10,237 8.0% 8.2% 0.80 0.3% 12.4% -22.6% -14.0% -12.5% -4.3% -0.6% 2.2% 4.2% 2.1%
CenterPoint Energy USA 2 11,274 9,132 7.1% 4.3% 0.56 4.3% -5.9% -5.0% 13.7% 6.9% 11.7% 9.4% 10.5% 11.7% 3.4%
NiSource USA 3 9,178 6,424 5.0% 3.1% 0.50 3.7% 0.2% 0.0% 14.3% 21.0% 23.7% 18.3% 13.8% 12.9% 10.1%
Vector New Zealand 2 2,365 591 0.5% 4.8% 0.60 5.0% 1.3% 10.0% 9.3% 9.6% 11.3% 12.9% 8.1%
Grand Total 156,635 128,609 100.0% 5.1% 0.67
Source: Reuters

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 GAS UTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
HK & China Gas Hong Kong 3 30,243 17,541 26.6% 2.1% 0.71 3.2% 10.7% 14.5% 8.3% 6.3% 9.6% 8.5% 10.2% 12.7% 12.6%
Tokyo Gas Japan 2 12,501 11,001 16.7% 1.9% 0.59 1.1% 16.1% 5.2% -2.9% 3.7% 8.9% 6.2% 3.7% 5.1% 5.7%
Atmos Energy USA 2 9,908 7,431 11.3% 2.2% 0.61 3.3% 5.1% 9.5% 21.0% 19.2% 19.2% 16.6% 14.4% 13.3% 12.0%
APA Group Australia 4 7,758 6,517 9.9% 5.3% 0.81 4.6% 7.2% -3.9% 2.8% 12.5% 18.4% 19.9% 14.7% 15.3% 15.1%
ENN Energy Hldgs Hong Kong 2 11,166 5,695 8.6% 1.3% 1.20 10.9% 46.9% 103.8% 18.5% 14.8% 20.5% 22.2% 24.9% 28.5%
Toho Gas Japan 2 3,362 3,161 4.8% 1.5% 0.53 3.5% 12.1% -18.3% -2.7% 6.7% 9.3% 4.0% 4.6% 6.6% 8.9%
ONE Gas USA 2 3,938 2,835 4.3% 2.5% 0.54 8.3% 3.8% 8.9% 22.1%
Spire Inc USA 2 3,588 2,834 4.3% 3.2% 0.30 -1.2% -4.4% 3.6% 13.5% 12.3% 13.9% 10.1% 11.5% 11.4% 11.4%
Beijing Enterprises Hong Kong 2 6,975 2,650 4.0% 2.3% 1.03 9.7% -6.6% 20.2% -12.0% -5.7% 0.0% 6.0% 11.8% 15.5% 13.3%
Italgas Italy 3 4,213 2,528 3.8% 4.7% - -13.3% -8.6% -1.2%
China Resource Gas Hong Kong 2 8,449 2,366 3.6% 1.9% 0.86 4.0% 6.6% 27.1% 9.8% 9.7% 15.6% 15.7% 24.9% 24.2% 19.1%
NW Natural USA 2 1,721 1,325 2.0% 3.2% 0.53 -2.4% 1.9% 0.7% 13.9% 10.9% 6.6% 6.6% 8.4% 9.2% 9.5%
Grand Total 103,822 65,884 100.0% 2.5% 0.70
Source: Reuters

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 WATER UTILITIES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
American Water Works USA 4 14,470 11,287 23.0% 2.2% 0.50 -3.5% -8.2% 8.5% 18.8% 18.5% 20.7% 17.8%
United Utilities UK 3 7,039 6,687 13.6% 5.1% 0.99 4.4% -6.5% -21.2% -4.0% 5.0% 8.3% 5.7% 7.0% 8.8% 7.7%
Severn Trent UK 3 6,262 5,824 11.9% 4.4% 1.02 2.5% -8.0% -17.5% 0.5% 3.5% 9.3% 8.4% 10.4% 11.9% 11.1%
Aqua America USA 3 6,173 5,062 10.3% 2.4% 0.71 -0.7% -10.5% 8.7% 12.3% 9.5% 12.6% 12.7% 6.3% 10.5% 12.1%
Guangdong Investment Hong Kong 3 11,018 4,848 9.9% 3.7% 0.61 8.2% 26.4% 22.5% 10.4% 17.8% 21.4% 17.5% 16.8% 19.6% 19.4%
Pennon Group UK 2 4,171 4,171 8.5% 4.9% 0.84 7.9% -3.1% -15.0% -0.3% 6.1% 6.4% 5.5% 9.6% 12.9% 11.6%
Beijing Enterprises Water Hong Kong 2 5,676 3,292 6.7% 3.3% 1.17 2.8% -21.8% -22.5% -8.7% 11.7% 12.3% 5.4% 33.1% 17.6% 0.5%
SABESP Brazil 4 4,800 2,400 4.9% 3.9% 0.82 -25.6% -21.6% -7.2% 15.0% 2.1% 13.8% 9.1% 16.8% 17.2% 13.7%
American States Water USA 2 2,067 1,592 3.2% 1.8% 0.82 1.5% -1.9% 25.3% 16.0% 18.9% 19.2% 15.8% 13.9% 13.5% 12.9%
California Water Service USA 2 1,935 1,374 2.8% 1.9% 0.90 4.4% -10.4% 18.3% 21.7% 18.2% 14.0% 11.4% 9.9% 10.6% 10.0%
Metro Pacific Invest Philippines 2 2,789 1,004 2.0% 2.4% 0.80 -8.8% -31.1% -24.4% 2.9% -4.3% 5.2% 2.8%
SJW Group USA 2 1,300 910 1.9% 1.8% 0.66 4.9% -0.1% 34.0% 30.7% 21.2% 16.0% 10.2% 10.2% 13.3% 10.1%
Aguas Andinas Chile 2 3,371 607 1.2% 6.1% 0.57 -6.5% -4.8% 3.8% 7.1% 5.6% 12.1% 11.9% 12.5% 13.6% 15.0%
Grand Total 71,072 49,057 100.0% 3.4% 0.80
Source: Reuters

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 OIL & GAS DISTRIBUTION
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Enbridge Canada 4 52,944 48,709 20.6% 6.7% 0.85 5.2% -15.4% -18.0% -8.1% 1.7% 8.5% 10.0% 10.4% 12.4% 12.0%
TransCanada Canada 5 37,283 37,283 15.8% 5.1% 0.90 -0.3% -10.1% -9.6% 4.6% 6.9% 9.9% 7.6% 7.5% 9.9% 12.0%
Kinder Morgan USA 5 36,797 30,174 12.8% 4.8% 0.79 5.4% -5.9% -8.2% -23.6% -11.8%
ONEOK USA 4 28,019 23,256 9.8% 4.7% 1.00 13.2% 30.9% 44.8% 24.8% 17.3% 21.2% 17.1% 19.8% 19.3% 16.9%
Williams Co USA 5 22,230 18,006 7.6% 5.1% 1.10 4.4% -10.8% -1.9% -14.2% 0.0% 10.0% 2.7% 7.2% 13.4% 3.1%
Pembina Pipeline Canada 4 17,504 17,504 7.4% 5.1% 1.05 10.8% 1.3% 9.9% 9.4% 12.0% 16.3% 16.8% 16.1% 17.1% 18.5%
Cheniere Energy USA 3 16,529 14,546 6.2% 0.0% 1.25 14.5% 23.7% 36.7% -4.2% 17.8% 39.2% 29.8% 5.1% 29.7% 27.1%
Targa Resources USA 2 10,673 9,179 3.9% 7.5% 1.27 3.5% 4.3% 14.6% -12.3% 0.4%
Snam Italy 5 14,205 9,092 3.8% 6.1% 0.48 -12.0% -12.2% -12.2% 2.1% 8.0% 7.7% 7.8% 8.9% 10.1%
Inter Pipeline Canada 5 7,257 7,257 3.1% 6.9% 1.09 6.4% -3.1% -2.1% -1.6% 7.0% 12.8% 16.5% 15.1% 17.3% 18.0%
Enagas Spain 5 6,357 6,039 2.6% 6.4% 0.46 -5.5% -4.4% -9.6% -0.3% 8.1% 11.5% 5.7% 7.6% 12.5%
Keyera Canada 2 5,783 5,783 2.4% 4.6% 1.10 5.6% 4.7% -5.3% 0.2% 8.0% 14.8% 18.6% 17.5% 21.1%
AK Transneft Russia 2 4,256 4,256 1.8% 2.5% 0.65 -1.1% -5.2% 12.5% 13.5% 22.0% 22.6% 18.1% 11.3% 20.3%
Enbridge Income Canada 4 3,820 3,056 1.3% 8.0% 0.96 4.0% -1.6% -6.0% -3.6% 8.4% 13.3% 16.8% 13.4%
SemGroup USA 2 1,999 1,420 0.6% 7.5% 1.13 2.5% -12.8% -11.6% -27.0% -9.6% 2.6%
Towngas China Hong Kong 2 2,718 707 0.3% 2.0% 0.98 9.7% 22.6% 63.0% 0.3% 0.8% 11.3% 8.0% 6.6% 6.7%
Grand Total 268,375 236,265 100.0% 5.2% 0.94
Source: Reuters

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 GROUND FREIGHT
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Union Pacific USA 2 110,722 101,864 35.9% 2.1% 0.94 7.4% 7.6% 32.3% 14.9% 15.5% 19.1% 15.6% 19.8% 18.3% 17.6%
Canadian National Rail Canada 2 61,479 52,872 18.7% 1.7% 1.18 9.2% 4.9% 5.1% 15.6% 17.4% 19.2% 16.5% 15.0% 18.0% 17.8%
CSX USA 2 56,592 46,405 16.4% 1.4% 1.29 9.2% 18.4% 21.2% 26.3% 23.2% 19.2% 13.3% 20.4% 20.1% 18.8%
Norfolk Southern USA 2 42,847 39,848 14.1% 1.9% 1.21 6.2% 5.7% 24.7% 21.0% 17.4% 15.9% 11.2% 13.0% 16.3% 16.8%
Canadian Pacific Rail Canada 2 27,694 27,694 9.8% 1.0% 1.33 6.7% 9.1% 18.2% 7.9% 13.7% 21.0% 14.7% 15.3% 16.1%
Kansas City Southern USA 2 10,994 8,575 3.0% 1.3% 0.94 0.5% 2.2% 14.1% 7.3% 0.6% 12.6% 8.7% 13.0% 16.3% 16.1%
Aurizon Hldgs Australia 2 6,490 6,166 2.2% 5.3% 0.64 -3.8% -11.2% -17.7% -2.1% 4.4% 9.4%
Grand Total 316,817 283,423 100.0% 1.8% 1.07
Source: Reuters

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 GROUND TRANSPORTATION SERVICES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Central Japan Rail Japan 2 42,681 42,681 41.2% 0.6% 0.93 2.5% 11.9% 25.0% 2.0% 15.8% 19.2% 9.2% 7.5% 7.9% 7.6%
East Japan Rail Japan 2 38,177 38,177 36.8% 1.3% 1.02 2.5% -1.5% 2.7% -0.5% 8.7% 12.6% 4.6% 4.5% 5.8% 4.5%
West Japan Rail Japan 2 13,959 13,959 13.5% 2.0% 0.95 1.0% -3.8% 4.0% 4.0% 15.6% 16.7% 7.1% 6.5% 6.1% 4.5%
MTR Hong Kong 2 33,821 8,793 8.5% 2.5% 0.61 1.7% -1.7% 1.9% 12.6% 12.9% 10.5% 9.2% 12.4% 14.9% 11.4%
Grand Total 128,637 103,610 100.0% 1.2% 0.88
Source: Reuters

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 AIRPORTS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Aena Spain 5 28,768 14,097 22.7% 4.0% 0.69 -4.0% 0.3% -5.7% 22.6%
Sydney Airport Australia 4 12,412 10,302 16.6% 5.0% 0.54 2.1% 3.3% 2.6% 13.8% 20.8% 23.0% 20.9% 17.4% 22.2%
Airports of Thailand Thailand 2 30,590 9,177 14.8% 1.3% 0.95 -3.9% 0.7% 63.4% 34.0% 32.3% 49.7% 32.8% 27.1%
Aeroports de Paris (ADP) France 5 20,643 5,780 9.3% 1.9% 0.71 -2.0% 12.7% 33.7% 18.6% 22.7% 18.6% 12.4%
Auckland Intl Airport New Zealand 5 5,569 4,344 7.0% 3.2% 1.26 3.4% 3.9% -1.7% 14.7% 23.4% 24.5% 18.8% 17.5% 17.9% 18.6%
Zurich Airport Switzerland 5 6,458 4,004 6.5% 3.1% 0.90 -0.6% -4.3% -11.1% 15.2% 20.2% 18.1% 11.1% 15.8% 27.3% 9.9%
Fraport Germany 4 8,672 3,469 5.6% 1.9% 0.60 1.9% -10.6% 13.6% 13.6% 15.1% 10.7% 9.3% 8.1% 12.7%
Aero del Sureste (ASUR) Mexico 4 4,384 3,200 5.2% 2.1% 0.84 -5.7% -10.8% -12.2% 14.7% 18.6% 27.2% 23.7% 23.4% 27.2% 23.5%
Grupo Aero Pacifico (GAP) Mexico 5 4,049 2,996 4.8% 5.9% 0.57 -12.2% -14.2% -4.9% 19.8% 24.0% 22.4% 21.3%
Beijing Cptl Intl Airport China 4 2,779 2,168 3.5% 2.6% 0.57 7.8% -1.5% 3.8% 10.0% 19.8% 16.6% 5.4% 12.4% 14.9% 14.3%
Aero del Centro Norte (OMA) Mexico 3 1,601 1,601 2.6% 4.3% 1.05 -3.3% -4.5% -1.5% 14.8% 20.6% 24.6% 18.5%
TAV Havalimanlari Turkey 2 1,757 861 1.4% 5.1% 0.62 0.7% 2.2% 32.8% 4.8% 18.1% 20.3% 13.6%
Grand Total 127,682 61,998 100.0% 3.3% 0.77
Source: Reuters

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 HIGHWAYS & RAILWAYS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Transurban Australia 5 19,981 17,584 31.3% 4.8% 0.53 2.8% -2.6% 1.5% 10.3% 17.1% 17.4% 13.9% 11.0% 12.3% 11.3%
Atlantia Italy 5 23,896 13,621 24.2% 4.9% 0.76 -7.6% -3.5% 4.7% 6.2% 18.2% 13.5% 7.2% 7.9% 10.2% 12.3%
Getlink (Eurotunnel) France 5 7,441 6,325 11.2% 2.6% 0.93 1.7% 10.9% 13.4% -3.3% 15.9% 9.8% 2.1%
CCR SA Brazil 3 5,587 3,185 5.7% 5.6% 0.94 -13.9% -35.2% -35.4% -8.4% -7.9% 2.4% 6.9% 12.2% 25.5%
Atlas Arteria Australia 5 3,370 2,764 4.9% 3.3% 0.77 3.4% 8.0% 19.4% 32.0% 33.9% 25.3%
Bangkok Express & Metro Thailand 2 3,918 2,155 3.8% 1.6% - 5.8% 7.5% 15.0%
Shenzhen Intl Hldgs Hong Kong 2 4,452 1,825 3.2% 2.6% 0.98 -0.6% 15.3% 35.8% 10.3% 13.6% 19.7% 11.7% 21.6% 18.3% 13.1%
Abertis Infraestructuras Spain 5 21,226 1,698 3.0% 4.4% 0.57 0.5% 0.7% 16.8% 12.4% 14.0% 15.0% 7.5% 6.9% 11.5% 13.1%
Jiangsu Expressway China 5 1,845 1,512 2.7% 4.6% 0.54 9.6% -0.5% 9.2% 7.8% 9.6% 9.5% 12.0% 13.0% 14.7% 18.9%
Zhejiang Expressway China 2 1,435 1,435 2.6% 6.8% 0.89 -3.0% -8.6% -9.4% -7.9% 9.1% 6.9% 7.9% 9.4% 11.6% 17.4%
SIAS Italy 4 3,671 1,101 2.0% 2.5% 1.06 -20.5% -9.8% 42.1% 15.1% 17.1% 16.6% 10.0% 7.9% 10.6%
ASTM Italy 3 2,279 934 1.7% 2.4% 1.10 -12.6% -17.6% 31.8% 20.6% 22.6% 15.0% 9.7% 6.1% 8.5% 8.5%
Shenzhen Expressway China 3 784 729 1.3% 4.5% 0.74 2.9% 3.8% 14.4% 9.8% 27.8% 14.3% 10.9% 14.8% 15.1% 19.1%
Jasa Marga Persero Indonesia 2 2,324 697 1.2% 1.4% 0.91 1.8% -29.5% -14.1% -10.6% -6.7% 5.0% 14.4%
Yuexiu Transport Infra Hong Kong 2 1,318 448 0.8% 5.8% 0.76 4.0% 7.7% 11.6% 6.9% 14.1% 10.8% 10.3% 12.8% 15.1% 15.7%
Anhui Expressway China 2 344 251 0.4% 4.7% 0.58 -1.2% -11.6% -4.6% -5.7% 11.5% 3.0% 4.9% 8.0% 12.3% 18.3%
Grand Total 103,872 56,265 100.0% 4.3% 0.80
Source: Reuters

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 MARINE PORTS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Vopak NV Netherlands 3 6,267 3,259 22.2% 2.5% 0.84 2.7% 17.9% 6.9% -0.1% 0.3% 4.7% 8.5% 12.8% 17.0% 12.4%
China Merchants Port Hldgs Hong Kong 5 7,479 2,842 19.3% 4.5% 1.06 1.4% -12.5% -15.3% -15.3% -3.1% -3.3% -2.8% 4.0% 10.4% 10.4%
Intl Container Terminal Philippines 2 3,270 2,812 19.1% 3.0% 0.72 -0.1% -17.5% -13.0% -5.4% -0.2% 11.7% 11.4% 21.0% 29.3% 34.5%
COSCO Shipping Ports Hong Kong 3 2,942 1,618 11.0% 3.1% 0.66 10.9% -5.5% -14.6% -6.5% -2.4% -1.4% -2.0% 0.2% 4.2% 6.2%
Hutchison Port Hldgs Singapore 4 2,396 1,461 9.9% 9.6% 0.93 -17.9% -31.0% -27.3% -18.8% -12.3%
Qingdao Port China 2 878 878 6.0% 3.0% 0.99 -3.1% 19.7% 42.8% 3.1%
Westports Hldgs Malaysia 3 2,956 650 4.4% 4.2% 0.35 3.3% -4.7% -11.7% -3.4%
Hamburger Hafen Logistik Germany 3 1,780 605 4.1% 3.2% 0.75 5.1% -11.8% 13.5% 4.0% 4.7% -3.0% -7.2%
Westshore Terminals Canada 4 1,247 299 2.0% 2.8% 1.43 3.7% -11.9% 8.7% -8.4% -1.1% 4.3% 8.5% 12.2% 18.2% 20.0%
Dalian Port China 2 868 286 1.9% 2.2% 0.90 3.1% -6.4% -1.8% -7.0% 14.6% 1.1% -1.9%
Grand Total 30,085 14,713 100.0% 3.9% 0.86
Source: Reuters

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 TELECOM INFRASTRUCTURE
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
American Tower USA 4 61,112 55,612 46.0% 2.2% 0.74 1.5% -2.5% 7.6% 16.6% 14.3% 16.1% 13.0% 14.9% 20.9% 9.8%
Crown Castle Intl USA 4 43,204 35,859 29.7% 4.0% 0.49 3.3% -5.3% 6.4% 12.9% 11.2% 15.4% 11.1% 12.6% 19.6% 10.4%
SBA Communications USA 4 18,207 14,930 12.4% 0.0% 0.85 -1.3% -3.2% 14.4% 12.2% 16.0% 20.5% 15.6% 18.8% 30.1% 8.6%
INWIT Italy 4 4,381 4,381 3.6% 3.0% 0.72 -3.5% 3.9% 22.1%
Cellnex Telecom Spain 4 5,871 3,582 3.0% 2.2% 0.55 -2.4% 1.7% 16.6% 12.7%
Uniti Group USA 2 3,685 2,727 2.3% 11.4% 0.64 16.4% 22.2% -4.3% 3.7%
Telesites SAB Mexico 3 2,325 2,325 1.9% 0.0% - -2.2% -5.9% 20.5%
EI Towers Italy 3 1,526 916 0.8% 4.4% 0.75 0.8% -9.7% -9.1% -1.1% 13.8% 21.0% 9.7% 4.8%
RAI Way Italy 3 1,324 463 0.4% 4.9% 0.87 -6.5% -13.8% -3.7% 2.7%
Grand Total 141,635 120,795 100.0% 2.7% 0.70
Source: Reuters

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 SATELLITES
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
SES Luxembourg 3 7,936 7,381 58.3% 4.6% 1.21 16.0% 16.9% -28.2% -18.8% -4.1% 2.1% 3.1% 5.1% 11.4% 3.7%
Eutelsat Comms France 3 4,464 2,634 20.8% 7.4% 0.61 -8.4% -14.8% -23.6% -14.5% -2.5% -1.8% 2.6%
Inmarsat PLC UK 2 2,301 1,864 14.7% 6.5% 0.62 -0.4% -21.9% -50.9% -24.2% -5.4% -2.7% 2.0% 5.4%
Loral Space & Comms USA 2 823 782 6.2% 0.0% 1.14 -1.2% -12.8% -2.8% -16.8% -8.6% -0.3% 13.9% 7.6%
Grand Total 15,524 12,660 100.0% 5.2% 0.89
Source: Reuters

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 OTHER SECTORS
Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Ferrovial Spain 1 15,165 10,919 78.3% 4.0% 0.61 0.0% -6.3% -9.6% -0.3% 11.1% 17.7% 8.4% 5.7% 11.7% 14.0%
Macquarie Infra Corp (MIC) USA 2 3,293 3,029 21.7% 10.3% 0.93 4.8% -35.8% -45.0% -16.8% 0.2% 16.4% 7.3% 7.9%
Grand Total 18,458 13,948 100.0% 5.4% 0.77
Source: Reuters

Company Country No. Idx MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Prom y Op de Infra (PINFRA) Mexico 2 3,406 3,406 95.3% 1.1% 0.77 -6.4% -7.9% -7.2% 2.7% 9.3% 20.8% 16.7% 49.6% 39.9% 42.7%
Hopewell Highway Infra Hong Kong 3 1,878 169 4.7% 2.8% 0.29 -4.0% 15.4% 19.5% 15.0% 5.9% 7.6% 9.4%
Construction & Engineering Total 5,284 3,575 100.0% 1.1% 0.53
Source: Reuters

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INVESTMENT COMPANIES & MLPS
LOCAL CURRENCY

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 INVESTMENT COMPANIES
Company Country Sector MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Brookfield Infrastructure USA Diversified 10,537 10,537 36.8% 4.9% 0.91 -5.6% -12.9% -1.7% 15.2% 14.9% 19.9% 17.9%
Brookfield Renewables USA Renewable Energy 5,562 3,838 13.4% 6.1% 0.25 4.2% -5.8% 0.0% 8.3% 12.6% 15.3% 14.8% 12.8% 13.4% 14.9%
HICL Infrastructure UK Diversified 3,358 3,358 11.7% 5.6% 0.42 -1.7% -8.4% -13.2% 2.2% 7.1% 8.3% 6.9%
INPP UK Diversified 2,671 2,377 8.3% 4.8% 0.46 -1.5% -6.7% -7.4% 6.2% 7.0% 8.3% 7.6%
3i Infrastructure UK Diversified 2,446 1,614 5.6% 3.9% 0.54 3.3% 8.5% 18.1% 15.0% 16.6% 14.3% 11.9%
Greencoat UK Renewable Energy 1,821 1,566 5.5% 5.4% 0.17 0.6% 1.3% 2.2% 8.6% 8.4%
JLIF UK Diversified 1,561 1,405 4.9% 6.0% 0.38 3.1% -0.8% -10.4% 4.8% 6.6% 7.3%
TRIG UK Renewable Energy 1,434 1,090 3.8% 6.1% 0.32 1.2% 0.1% -0.2% 5.8% 6.9%
BBGI UK Diversified 933 709 2.5% 4.9% 0.39 0.4% -3.3% -4.0% 6.9% 8.2%
Nextenergy UK Renewable Energy 839 604 2.1% 5.9% 0.29 1.5% -0.2% 0.9% 8.2%
Bluefield Solar UK Renewable Energy 586 586 2.0% 5.6% 0.22 2.1% 4.0% 7.7% 9.8% 9.4%
Foresight Solar UK Renewable Energy 641 545 1.9% 6.1% 0.23 0.5% 2.1% 0.6% 7.1%
JL Environment UK Renewable Energy 531 398 1.4% 6.2% 0.43 -0.2% -5.9% -4.8% 4.1%
Grand Total 32,918 28,626 100.0% 5.3% 0.39
Source: Reuters

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 MASTER LIMITED PARTNERSHIPS (MLPS)
Company Country MC $Mn FF MC $Mn FF Wght Yield Beta Month YTD 1 Yr 3 Yrs 5 Yrs 7.5 Yrs 10 Yrs 12.5 Yrs 15 Yrs 17.5 Yrs
Magellan Midstream USA 15,951 14,994 29.2% 5.4% 0.76 7.6% 1.2% 1.5% 0.5% 10.7% 18.1% 19.7% 18.7% 19.6%
MPLX USA 28,512 14,826 28.9% 6.9% 1.10 3.4% 4.7% 16.2% -16.2% 4.0%
Andeavor Logistics USA 9,317 3,261 6.4% 9.5% 0.79 1.1% -3.1% -12.0% -2.7% -1.4%
Spectra Energy USA 14,614 2,484 4.8% 9.7% 0.79 -13.5% -20.5% -24.7% -10.5% 2.3% 4.2% 8.1%
EQT Midstream USA 4,499 2,475 4.8% 7.6% 0.86 1.2% -21.1% -19.7% -8.4% 6.9%
Shell Midstream USA 5,011 2,405 4.7% 6.2% 1.04 5.4% -22.7% -21.0% -17.8%
Phillips 66 USA 6,368 2,293 4.5% 5.5% 1.23 5.5% 2.7% 11.3% -6.6%
Antero Midstream USA 5,658 1,980 3.9% 5.2% 1.22 14.5% 7.0% -8.4% 6.2%
Crestwood Equity USA 2,394 1,820 3.5% 7.1% 0.93 25.4% 35.9% 60.6% 0.9% -16.1% -12.3% -4.2% -1.0% 2.5%
TC Pipelines USA 1,734 1,318 2.6% 10.7% 0.87 -28.9% -52.2% -53.2% -22.2% -4.9% -1.9% 3.4% 5.0% 6.3% 9.0%
Boardwalk Pipeline USA 2,651 1,166 2.3% 3.8% 0.36 -5.9% -16.4% -39.5% -10.4% -16.0% -9.2% -3.8% 1.0%
Tallgrass Energy USA 1,249 1,162 2.3% 9.1% 1.07 5.1% -13.2% -10.9% -8.3%
Holly Energy USA 3,097 1,146 2.2% 8.9% 0.63 0.2% -5.6% -2.8% 2.8% 2.9% 8.8% 10.2% 10.8%
Grand Total 101,056 51,330 100.0% 6.7% 0.90
Source: Reuters

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HOW TO JOIN GLIO & CONTACT DETAILS

Download Application Form

Download Supporters Pack

Fraser Hughes, CEO

Global Listed Infrastructure Organisation (GLIO)
Tervurenlaan 168
1150 Sint-Pieters Woluwe
Belgium

E: f.hughes@glio.org
T: +32 (0)2 767 1888 (Direct)
M: +32 (0)471 100 400 (Mobile)
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