Retail Infrastructure Funds
Morrison & Co PIP Ltd (a Morrison & Co subsidiary) and Craigs Investment Partners have established NZSIF to enable New Zealand private investors to participate in the development of social infrastructure assets through Public-Private Partnerships. Examples of Social Infrastructure Assets include schools, universities, hospitals, prisons and community housing. Social Infrastructure does not typically extend to the provision of social services, such as the provision of teachers at a school or custodial services at a prison, but focuses instead on providing the physical assets in which these services are delivered. Social Infrastructure assets are typically provided under long term contracts with Government counterparties, with revenues based on asset availability and linked with inflation. NZSIF gives retail investors with a longer term investment horizon exposure to a new asset class in their portfolios, on substantially similar terms to institutional investors such as the NZ Superannuation Fund. Click here for more information on the NZSIF, including a copy of the prospectus and investment statement for the offer which closed on 30 April 2010.