All investing is subject to risk. Risk and return presented above is for illustrative purposes. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Diversification does not ensure a profit or protect against a loss in a declining market.

Income from infrastructure assets is typically more stable compared to equities and higher than traditional defensive assets such as bonds. Infrastructure securities benefit from a number of key investment advantages being:

• High barriers to entry: Results in a more stable income stream for investors compared to the earnings volatility of other equity investments; and
• Protection from inflation: Infrastructure securities benefit from the link to inflation which is derived from regulated CPI-based price increases, as is often the case with airports, toll roads, and utility companies.