Phoenix Investment Partners, a diversified asset management firm with $33.4 billion under management, and the asset management subsidiary of The Phoenix Companies, Inc. (NYSE:PNX), announced that its global utilities fund has begun trading under its new name, Phoenix Global Infrastructure Fund (PGUAX), reflecting its broader investment strategy.
Under the expanded strategy, the fund will invest at least 80 percent of its assets in the equity securities of infrastructure companies, located in three or more countries, one of which will be the U.S. Infrastructure companies provide energy, utility, transportation, communication, and other essential services.
“We’re enthusiastic about the fund’s new infrastructure investments and the benefits they’ll bring to shareholders,” said portfolio manager Connie Luecke, who co-manages the fund with Randle Smith at Duff & Phelps Investment Management Company, the fund’s subadviser. “Exposure to the global infrastructure asset class can add value to both institutional and retail investors’ portfolios because of its low correlation to other asset classes, attractive risk/return characteristics, and the defensive nature of the infrastructure sector.”
Infrastructure White Paper
In response to increased investor interest in the global infrastructure asset class, Duff & Phelps Investment Management has authored a white paper entitled, “Infrastructure Investing, An Opportunity Too Large to Ignore.” The paper covers a wide variety of topics of potential interest to investors, including the meaning of infrastructure and its financial characteristics; how infrastructure is distinguished from non-infrastructure; and an explanation for the ongoing surge in infrastructure investment opportunities. The paper’s key conclusions include:
- Global infrastructure investment needs are projected to exceed $65 trillion over the next 3 decades.
- Given expanding populations, years of infrastructure underinvestment and rising repair and replacement costs, governments now need private investment capital in order to fulfill their responsibilities as fiduciaries of the public good.
- Infrastructure has recently emerged as a separate asset class and is now recognized as one of several alternative investment strategies.
- Infrastructure stands out among other alternative asset classes due to its discrete multi-sector composition and its unique and desirable investment profile.
The white paper can be obtained by contacting Jemile Dragovic at (212) 812-5665 or by calling Phoenix Investment Partners toll free at 800-243-4361.
Phoenix Investment Partners offers a diversified mix of investments from respected money managers, with a specialized expertise in alternative investments in addition to core investment strategies. This emphasis on quality and choice gives individuals, businesses and institutions access to products that fit their financial goals. It had $33.4 billion in assets under management as of June 30, 2008.
Phoenix Investment Partners announced earlier this year that it will be renamed Virtus Investment Partners following its spin-off from The Phoenix Companies later this year.
Duff & Phelps Investment Management Co. was founded in 1932 as an investment research firm. The firm has more than 28 years of experience managing investment portfolios, including open- and closed-end funds investing in utilities and REITs that have been recognized for their risk-adjusted performance, and institutional separate accounts. Product offerings include utilities, global infrastructure, REITs, and institutional tax efficient products. Headquartered in Chicago, Duff & Phelps has been a wholly owned subsidiary of Phoenix Investment Partners since 1995. For more information, visit www.dpimc.com.
With roots dating to 1851, The Phoenix Companies, Inc. (NYSE:PNX) helps individuals and institutions solve their often highly complex personal financial and business planning needs through its broad array of life insurance, annuities and investments. The company’s products and services reflect deep insights into the wants and needs of consumers and financial professionals gleaned from research, including its Phoenix Wealth Survey, conducted annually since 2000. In 2007, Phoenix had annual revenues of $2.6 billion and total assets of $30.2 billion. For more information, visit www.phoenixwm.com.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. Read the prospectus carefully before you invest. Call 1-800-243-4361 or visit www.phoenixfunds.com for a prospectus, which contains this and other information about the fund.
Concentrating investments in one sector presents the risk that adverse economic, political or regulatory developments could affect the fund more than would be the case if it were more broadly diversified. Investments outside the U.S. involve special risks such as currency fluctuations, political instability and differing securities regulation. There is no guarantee that the fund will achieve its investment objective. Because the Fund has a limited number of securities, it will be impacted by each security’s performance more than a fund with a large number of holdings.
Distributed by Phoenix Equity Planning Corporation, Hartford, CT. Member, FINRA and subsidiary of Phoenix Investment Partners, Ltd., a member of The Phoenix Companies.
This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Fund.