Utilities Trust of Australia (“UTA” or the “Fund”) is an open-ended core infrastructure fund for institutional investors with a long-term investment horizon and a low-to-moderate appetite for risk. The Fund has a diversified portfolio of 9 high-quality assets in Australia and the United Kingdom and a track record of delivering strong returns with low volatility over time.
UTA was established in 1994 and was one of Australia’s first infrastructure investment funds. As at 31 December 2019, UTA had more than $6.5 billion in assets under management, including invested capital and undrawn commitments. UTA is managed by Morrison & Co Utilities Management (Australia) Pty Ltd (ABN 66 624 308 809) ("Manager" or “Morrison & Co”). Morrison & Co assumed management on 1 July 2018 from Hastings Funds Management.
The Fund objective is to provide investors with a total return exceeding the benchmark return of the 10 Year Australian Government Bond Rate plus 4%.
Morrison & Co aims to provide Fund investors with above-benchmark returns over the medium term, by taking an active approach to managing the assets in the Fund, and using Morrison & Co deep sector expertise to wield influence and drive value creation in the investee entities.
UTA has outperformed its benchmark since inception, delivering a net return of 11.4% per annum across 25 years to 31 December 2019.