Middlefield Global Real Asset Fund

Fund Description

The Fund is focused on attractive global real estate and infrastructure assets in the global public and private markets. This includes an investment in the Blackstone Core+ fund which provides exposure to an exclusive portfolio of private North American real estate assets. The partnership with Blackstone, one of the world’s largest alternative asset investment managers, builds upon Middlefield 40 year plus history of real estate investing.

Key Reasons to Invest:

  • exposure to an actively managed fund providing tax-efficient distributions focused on the real estate and infrastructure sectors
  • the infrastructure sector has high barriers to entry and economies of scale which can provide investors with attractive returns and a natural hedge against inflation
  • the real estate sector performs well in both low and rising interest rate cycles and is also a proven hedge against inflation

RA.UN 

Closing price  Ways To Invest Fact Sheet Prospectus (English) Prospectus (French) All Fund Documents

Fund Overview

  • Ticker/CUSIP:
    RA.UN/596334102
  • Inception Date:
    November 26, 2019
  • Monthly Distribution:
    $0.04167
  • Advisor:
    Middlefield Capital Corporation
  • Eligibility:
    RRSPs, RRIFs, DPSPs, RESPs and TFSAs
  • Management Fee:
    1.10%
  • Risk Rating:
    Not Rated
  • Exchange:
    Toronto Stock Exchange

Fund Managers

Headshot of Robert Lauzon
Robert F. Lauzon
Managing Director and Chief Investment Officer
Headshot of Robert Moffat
Robert Moffat
Portfolio Manager
Shane Obata
Portfolio Manager

Performance

 
AS OF 1 MONTH 3 MONTHS 6 MONTHS YEAR-TO-DATE 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE INCEPTION 2021 2020 2019 2018
December 31, 2022 -3.25% 9.95% 9.00% -13.59% -13.59% - - - 5.65% 24.33% - - -

Distributions

Total NAV & Distributions (since inception)  
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RECORD DATE PAYMENT DATE PAYMENT AMOUNT
March 31, 2023 April 14, 2023 0.04167
February 28, 2023 March 15, 2023 0.04167
January 31, 2023 February 15, 2023 0.04167
December 31, 2022 January 13, 2023 0.04167
November 30, 2022 December 15, 2022 0.04167
October 31, 2022 November 15, 2022 0.04167
September 30, 2022 October 14, 2022 0.04167
August 31, 2022 September 15, 2022 0.04167
July 31, 2022 August 15, 2022 0.04167
June 30, 2022 July 15, 2022 0.04167

Fund Details

Sector Allocation (%)

As Of December 31, 2022
Real Estate 50.90%
Utilities 23.40%
Pipelines 8.70%
Industrials 6.00%
Materials 4.20%
Energy 3.80%
Technology 3.00%

Geographic Allocation (%)

As Of December 31, 2022
Canada 51.70%
U.S. 48.30%
International 0.00%

Top 10 Holdings

1 Blackstone Core+ Real Estate LP 29.30%
2 Boralex Inc. 4.30%
3 Linde plc 4.20%
4 AES Corporation 4.20%
5 Boardwalk REIT 4.10%
6 Canadian Apartment Properties REIT 4.10%
7 Nextera Energy Inc. 4.00%
8 TransAlta Corporation 4.00%
9 Innergex Renewable Energy 3.80%
10 Enbridge Inc. 3.80%
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