John Laing Infrastructure Fund

To invest in PFI/PPP assets which deliver stable income, generating dependable bi-annual dividend yield to investors.

JLIF’s investment strategy is to invest in global, fully operational PFI/PPP infrastructure projects, generating a stable income, passed onto investors via a high and predictable yield, with an initial annualised yield target of 6 pence on the issue value of each £1 share and an IRR target of 7% to 8%.

We aim to invest in assets which are predominantly:

  •  in their operational phase, having completed construction
  •  public sector or government-backed with regard to revenue
  •  “availability” based (where the payments from the concession do not generally depend on   the level of use of the project asset)
  •  within the UK and in countries which are regarded as fiscally strong

We believe that attractive opportunities are likely to arise for JLIF to enhance returns for Shareholders in areas of the world where PFI/PPP is a practiced route for delivering infrastructure investment. JLIF may therefore make investments in the European Union, other European countries, Canada, the United States of America and in the Asia Pacific region.

When any acquisition is made we will ensure that any one asset does not have a value greater than 25% of the total assets of JLIF immediately post-acquisition.

We intend to make prudent use of leverage, primarily for working capital purposes and to finance the acquisition of investments after the acquisition of the seed portfolio. This leverage will be limited to 25% of the total assets of JLIF.