Miller/Howard Infrastructure SMA (S:0P0001ECFL)
60.67
+2.72
(+4.69%)
USD |
May 31 2024
Returns Chart
Sep '18
Jan '19
May '19
285.00
270.00
255.00
240.00
Key Stats
| Maximum Management Fee | Annualized Total Returns Since Inception (Daily) | Alpha (vs Category) (3Y) | Forecasted Dividend Yield |
|---|---|---|---|
| Upgrade | Upgrade | Upgrade | Upgrade |
| Total Market Value (Net) | Beta (vs Category) (3Y) | Max Drawdown (Since Inception) | Fwd Dividend Yield (Long) |
| Upgrade | Upgrade | Upgrade | Upgrade |
Basic Info
| Investment Strategy | |
| Infrastructure strategy is designed to benefit from the long-term stability and growth opportunities uniquely available to essential service providers. The portfolio invests in companies that own and operate critical infrastructure, such as utilities, communications, energy infrastructure, and transportation companies, as well as enablers whose products and services help to facilitate the infrastructure build-out. The investment process incorporates all three primary investment disciplines: fundamental, quantitative, and technical analysis. Portfolio holdings are typically lower-correlation investments that provide cash flows from dividends, the potential for capital appreciation, and diversification. Stock selection is biased toward monopolistic, essential services companies that are financially sound, attractive yield-growers. These companies generally enjoy favorable secular tailwinds and have strong ESG practices along with below-average risk profiles. The overall portfolio offers diversification across infrastructure assets by dynamically allocating capital to the best opportunities. |
| General | |
| Security Type | Separately Managed Account |
| Equity Style | Mid Cap/Value |
| Fixed Income Style | -- |
| Broad Asset Class | Sector Equity |
| Broad Category | Equity |
| Category Name | Infrastructure |
| Category Index | S&P Global Infrastructure NR USD |
| Global Category Name | Infrastructure Sector Equity |
| YCharts Categorization | Infrastructure Equity |
| YCharts Benchmark | MSCI ACWI Infrastructure (^MSACWIIA) |
| Fund Owner Firm Name | Miller/Howard Investments, Inc. |
| Prospectus Benchmark Index | |
| Morningstar Gbl Eq Infra GR USD | 100.0% |
| Broad Asset Class Benchmark Index | |
| ^MSWNTR | 100.0% |
| Manager Tenure | |
| John Leslie | 19.56 yrs |
| John Cusick | 8.69 yrs |
| Michael Roomberg | 8.69 yrs |
| Gregory Powell | 6.71 yrs |
| Adam Fackler | 4.42 yrs |
Annual Total Returns Versus Peers
As of May 31, 2024.
Asset Allocation
Top 10 Holdings
| Name | % Weight | Price | % Change |
|---|---|---|---|
| Waste Management Inc | 4.85% | 208.99 | 0.11% |
| Williams Companies Inc | 4.51% | 42.06 | -0.80% |
| Enbridge Inc | 4.34% | 47.50 | -0.11% |
| American Tower Corp | 4.06% | 194.85 | 0.35% |
| Marathon Petroleum Corp | 3.94% | 172.67 | -0.57% |
| CSX Corp | 3.77% | 33.41 | 0.30% |
| NiSource Inc | 3.75% | 28.32 | -0.07% |
| Entergy Corp | 3.57% | 105.81 | -0.45% |
| CMS Energy Corp | 3.38% | 59.55 | 0.12% |
| Exelon Corp | 3.33% | 34.78 | -0.46% |
Fees & Availability
| Fees | |
| Negotiable Fee |
|
| Administrative Fee | -- |
| Maximum Management Fee | Upgrade |
| Prospectus Custodian Fee | -- |
| Trustee Fee | -- |
| Purchase Details | |
| Open to New Investors |
|
| Open to Existing Investors |
|
| Minimum Initial Investment | -- |
| Minimum Subsequent Investment | -- |
Basic Info
| Investment Strategy | |
| Infrastructure strategy is designed to benefit from the long-term stability and growth opportunities uniquely available to essential service providers. The portfolio invests in companies that own and operate critical infrastructure, such as utilities, communications, energy infrastructure, and transportation companies, as well as enablers whose products and services help to facilitate the infrastructure build-out. The investment process incorporates all three primary investment disciplines: fundamental, quantitative, and technical analysis. Portfolio holdings are typically lower-correlation investments that provide cash flows from dividends, the potential for capital appreciation, and diversification. Stock selection is biased toward monopolistic, essential services companies that are financially sound, attractive yield-growers. These companies generally enjoy favorable secular tailwinds and have strong ESG practices along with below-average risk profiles. The overall portfolio offers diversification across infrastructure assets by dynamically allocating capital to the best opportunities. |
| General | |
| Security Type | Separately Managed Account |
| Equity Style | Mid Cap/Value |
| Fixed Income Style | -- |
| Broad Asset Class | Sector Equity |
| Broad Category | Equity |
| Category Name | Infrastructure |
| Category Index | S&P Global Infrastructure NR USD |
| Global Category Name | Infrastructure Sector Equity |
| YCharts Categorization | Infrastructure Equity |
| YCharts Benchmark | MSCI ACWI Infrastructure (^MSACWIIA) |
| Fund Owner Firm Name | Miller/Howard Investments, Inc. |
| Prospectus Benchmark Index | |
| Morningstar Gbl Eq Infra GR USD | 100.0% |
| Broad Asset Class Benchmark Index | |
| ^MSWNTR | 100.0% |
| Manager Tenure | |
| John Leslie | 19.56 yrs |
| John Cusick | 8.69 yrs |
| Michael Roomberg | 8.69 yrs |
| Gregory Powell | 6.71 yrs |
| Adam Fackler | 4.42 yrs |
Fundamentals
| Number of Holdings | Upgrade |
| Stock | |
| Weighted Average PE Ratio | 16.53 |
| Weighted Average Price to Sales Ratio | Upgrade |
| Weighted Average Price to Book Ratio | Upgrade |
| Weighted Median ROE | Upgrade |
| Weighted Median ROA | Upgrade |
| Forecasted Dividend Yield | Upgrade |
| Forecasted PE Ratio | Upgrade |
| Forecasted Price to Sales Ratio | Upgrade |
| Forecasted Price to Book Ratio | Upgrade |
As of March 31, 2024
Fund Details
| Key Dates | |
| Inception Date | 9/30/1991 |
| Last Annual Report Date | 12/31/2023 |
| Last Prospectus Date | -- |
| Attributes | |
| Index Fund | No |
| Inverse Fund | No |
| Leveraged Fund | No |
| Fund of Funds | No |
| Currency Hedged Fund | No |
| Synthetic Replication Fund | No |
| Has Dividend Investment Plan | No |
| Socially Responsible Fund | No |