MFG Core Infrastructure Information
Investment Objective
The Frontier MFG Core Infrastructure Fund's goal, also referred to as its investment objective, is long-term capital appreciation.
Principal Investment Strategy
The Fund's subadviser is Magellan Asset Management Limited doing business as MFG Asset Management ("MFG Asset Management"). MFG Asset Management seeks to provide investors with exposure to infrastructure companies in both U.S. and non-U.S. and to deliver stable investment returns relative to other equity funds. The Fund invests in a diversified portfolio of securities (generally 80 to 100) of infrastructure and utility companies that MFG Asset Management has determined have an appropriate capital structure, are likely to generate reliable income streams and are likely to benefit from inflation protection.
The Fund's investment universe will principally consist of companies whose predominant source of earnings is derived from the following infrastructure assets:
- Regulated energy utilities;
- Regulated water utilities;
- Toll roads;
- Energy infrastructure
- Airports;
- Ports;
- Communications infrastructure;
- Rail; and
- Social infrastructure
Portfolio Managers
Gerald Stack
Prior to joining Magellan, Gerald was a director of Capital Partners (now known as CP2) where he was head of securities research and a member of the management and investment committees. Gerald has extensive experience in the analysis and investment management of listed and unlisted debt, equity and hybrid assets on a global basis. Gerald holds a Bachelor of Economics and a Master of Business Administration, both from Sydney University, and is a Chartered Accountant. Gerald is a member of Magellan's Investment Committee.
Ben McVicar
Ben joined Magellan in 2013 as an Investment Analyst in the Infrastructure Team. Ben was promoted to the additional role of Assistant Portfolio Manager in August 2016 and subsequently promoted to Portfolio Manager in January 2017. Prior to Magellan, Ben spent nearly five years as an equities analyst at Credit Suisse in Sydney, most recently as lead analyst for Australian utilities. Ben holds a Bachelor of Commerce (First Class Honours), for which he was awarded a University Medal, from The University of Queensland and is a CFA Charterholder.
Jowell Amores
Jowell Amores joined Magellan in 2012. Prior to Magellan, Jowell worked at RREEF Alternative Investment Management LLC in the U.S., as an assistant portfolio manager of the global listed infrastructure fund. Before RREEF, Jowell worked as a senior investment analyst with Macquarie Group global listed infrastructure fund in Australia and the U.S., and a U.S.-based equity analyst at UBS. Jowell holds a Bachelor of Science in Business Administration (Finance) from Montclair State University in the U.S.
David Costello
David Costello joined Magellan in 2015. Prior to Magellan, David led Ernst & Young's financial-modelling practice in Brisbane. Before this, David worked for National Australia Bank and SFG Consulting. David holds a Bachelor of Laws (Honours) and a Bachelor of Commerce (Honours) from the University of Queensland. David is a CFA Charterholder.
Fund Data
Ticker: FMGIX | CUSIP: 35908Y807
Total returns
(as of September 30, 2024)
| Last quarter | 15.27% |
|---|---|
| YTD | 12.77% |
| 1 Year | 26.81% |
| 3 Year* | 5.50% |
| 5 Year* | 5.10% |
| 10 Year* | 6.94% |
| Since Inception* (January 18, 2012) | 8.46% |
*Average annual return
Past performance does not guarantee future results. The principal value of an investment and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end may be obtained by calling 888-825-2100. Investment performance reflects contractual fee waivers in effect. In the absence of such waiver, total returns would be reduced.
Annual Fund Operating Expenses
As of Prospectus Dated October 31, 2023 (expenses that are deducted from Fund assets)
| Management Fees | 0.50% |
|---|---|
| Distribution (12b-1) Fees | None |
| Other Expenses | |
| Shareholder Servicing Fee | None |
| Additional Other Expenses | 0.10% |
| Total Other Expenses | 0.10% |
| Acquired Fund Fees and Expenses | 0.00% |
| Total Annual Fund Operating Expenses | 0.60% |
| Fee Waiver | -0.10% |
| Net Expenses | 0.50% |
A redemption fee of 2.00% will be charged on shares of the Fund redeemed 30 days or less from their date of purchase.
Pursuant to an expense cap agreement between the Fund’s adviser, Frontegra Asset Management, Inc. ("Frontegra") and the Fund, Frontegra agreed to waive its management fee and/or reimburse the Fund’s operating expenses to the extent necessary to ensure that the Fund’s total operating expenses (excluding acquired fund fees and expenses) do not exceed 0.50% and 0.65% of the Fund's average daily net assets attributable to Institutional Class and Service Class shares, respectively. The expense cap agreement for the Fund will continue in effect until October 31, 2025, with successive renewal terms of one year unless terminated by Frontegra or the Fund prior to any such renewal. “Other Expenses” are presented before any waivers or expense reimbursements.
Ticker: FCIVX | CUSIP: 35908Y849
Total returns
(as of September 30, 2024)
| Last quarter | 15.23% |
|---|---|
| YTD | 12.67% |
| 1 Year | 26.71% |
| 3 Year* | 5.38% |
| 5 Year* | 5.00% |
| Since Inception* (July 15, 2016) | 6.11% |
*Average annual return
Past performance does not guarantee future results. The principal value of an investment and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end may be obtained by calling 888-825-2100. Investment performance reflects contractual fee waivers in effect. In the absence of such waiver, total returns would be reduced.
Annual Fund Operating Expenses
As of Prospectus Dated October 31, 2023 (expenses that are deducted from Fund assets)
| Management Fees | 0.50% |
|---|---|
| Distribution (12b-1) Fees | None |
| Other Expenses | |
| Shareholder Servicing Fee | 0.15% |
| Additional Other Expenses | 0.10% |
| Total Other Expenses | 0.25% |
| Acquired Fund Fees and Expenses | 0.00% |
| Total Annual Fund Operating Expenses | 0.75% |
| Fee Waiver | -0.10% |
| Net Expenses | 0.65% |
A redemption fee of 2.00% will be charged on shares of the Fund redeemed 30 days or less from their date of purchase.
Pursuant to an expense cap agreement between the Fund’s adviser, Frontegra Asset Management, Inc. ("Frontegra") and the Fund, Frontegra agreed to waive its management fee and/or reimburse the Fund’s operating expenses to the extent necessary to ensure that the Fund’s total operating expenses (excluding acquired fund fees and expenses) do not exceed 0.50% and 0.65% of the Fund's average daily net assets attributable to Institutional Class and Service Class shares, respectively. The expense cap agreement for the Fund will continue in effect until October 31, 2025, with successive renewal terms of one year unless terminated by Frontegra or the Fund prior to any such renewal. “Other Expenses” are presented before any waivers or expense reimbursements.
Quarterly (as of September 30, 2024)
Top 10 Holdings
| Aena SME SA | 3.09% |
|---|---|
| TC Energy Corporation | 3.02% |
| National Grid Plc | 3.01% |
| Cellnex Telecom SA | 3.00% |
| Enbridge Inc | 2.98% |
| Ferrovial SE | 2.90% |
| Transurban Group | 2.89% |
| Vinci SA | 2.85% |
| Fortis Inc | 2.74% |
| Hydro One Ltd | 2.54% |
Region, by Country of Domicile
Sector Weightings
Important Fund Information
Past performance does not guarantee future results. The principal value of an investment and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.
Before investing, carefully consider the Fund's investment objectives, risks, charges and expenses. Please see the prospectus containing this and other information which can be obtained by calling 888-825-2100. Read it carefully before investing.
Mutual fund investing involves risk, including the possible loss of the money you invest.
An investment in the Fund is subject to risks, and you could lose money on your investment in the Fund. There can be no assurance that the Fund will achieve its investment objective. Investments in infrastructure companies will expose the Fund to potential adverse economic, regulatory, political and other changes affecting such investments. Issuers of securities in infrastructure-related businesses are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental or other regulations, the effects of economic slowdowns, adverse changes in fuel prices, the effects of energy conservation policies and other factors. The Fund invests in companies located in developed countries but may also invest in emerging markets as part of its principal investment strategy. Investments in emerging market securities involve additional risks. Investments in securities of foreign companies involve additional risks. The risks associated with an investment in the Fund can increase during times of significant market volatility. The Fund also has specific principal risks which are listed below.
The principal risks of investing in the Frontier MFG Core Infrastructure Fund include: market risk and recent market events, common stock risk, stock selection risk, stapled securities risk, REIT risk, foreign securities risk, emerging markets risk, currency risk, management risk, shareholder concentration risk, infrastructure and utilities concentration risk, small- and medium-capitalization company risk, large capitalization risk, liquidity risk and cybersecurity risk.
More detailed information regarding these risks can be found in the Fund's prospectus.
The Frontier Funds are not offered for sale in countries other than the United States and its territories.