New York. Man Group, a leading global alternative investment manager, announced today the launch of the Man Active Global Infrastructure ETF (ticker: MGIN) (the "Fund"). The actively managed Fund, which will be listed today on NYSE, seeks to provide capital growth over the medium to long-term through exposure to listed global infrastructure companies, and brings the firm's ETF offering in the US wealth market to five Funds.
MGIN is an active, long-only, unconstrained strategy that invests in listed infrastructure companies across Energy, Utilities, Digital & Communications, Transportation & Supply Chain, and other infrastructure sub-sectors. The Fund draws on an eligible investment universe of more than 700 listed companies globally, each with a market capitalization in excess of $1 billion, before applying a rigorous top-down, sub-sector, and bottom-up fundamental process to construct a concentrated, high-conviction portfolio of approximately 40 to 60 core positions.
Global listed infrastructure offers investors potential equity-like income growth combined with potential bond-like stability, underpinned by inflation-linked cash flows, long-term regulated contracts, and inelastic demand. The asset class is further supported by powerful secular tailwinds, including the energy transition, the build-out of AI and digital infrastructure, ongoing urbanization, and heightened geopolitical and national-resilience considerations. Historically, listed infrastructure has delivered similar returns1 to private infrastructure at comparable levels of volatility, while also offering the benefits of daily liquidity, transparent pricing, and greater accessibility. Wide dispersion of returns across the asset class further creates a rich environment for active managers to generate alpha through fundamental stock selection.
Al Chu, CFA, is the portfolio manager primarily responsible for the day-to-day management of MGIN. Chu brings over 20 years of investment experience, including prior roles at BNY Mellon, Citadel, and SAC Capital. He is supported by a dedicated team of sector analysts.
Al Chu, Portfolio Manager, Man GLG, said:
"Infrastructure sits at the intersection of some of the most powerful structural themes shaping markets today — the energy transition, the build-out of AI and digital infrastructure, urbanization, and a renewed focus on national resilience. It's an asset class that can offer investors potential equity-like income growth with potential bond-like stability, but the dispersion of returns across sub-sectors and individual companies is wide, which is exactly the environment where an active, high-conviction approach can add real value."
Mark Bedford, Global Head of Wealth, Man Group, said:
"The launch of MGIN marks an important next step in the growth of our US ETF platform, and reflects our commitment to making Man Group's institutional-grade active strategies accessible to a broader range of investors. Infrastructure is an asset class that we believe deserves a place in client portfolios, offering a compelling combination of income, inflation protection, and diversification. With Al and his team's deep experience and a genuinely active, unconstrained approach, we believe MGIN offers investors a differentiated way to access this opportunity in a liquid, transparent, and cost-efficient structure."
Disclosures
An investor should consider the investment objectives, risks, and charges and expenses of the funds carefully before investing. A prospectus and a summary prospectus which contains this and other information about the funds may be obtained by calling +1 866-505-1108 or visiting www.man.com/etfs. The prospectus and a summary prospectus should be read carefully before investing.
Investing involves risk, including possible loss of principal. ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF's shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund's ability to sell its shares. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid, and more volatile than securities markets in more developed markets. The Funds are non-diversified, which means that it may invest a greater percentage of its assets than a diversified mutual fund in the securities of a limited number of issuers. Derivatives may be more sensitive to changes in market conditions and may amplify risks. Because the Fund invests significantly in infrastructure companies and infrastructure related assets, the Fund is more susceptible to adverse economic, regulatory, political, legal and other changes affecting such companies. Infrastructure companies and infrastructure related assets 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, costs associated with environmental and other regulations, difficulty in raising capital in adequate amounts on reasonable terms in periods of high inflation or unsettled capital markets, the effects of economic slowdown and surplus capacity, increased competition from other providers of services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies, service interruption due to environmental, operational or other mishaps, and other factors. The Fund is a new fund, with a limited or no operating history and a small asset base. There can be no assurance that the Fund will grow to or maintain a viable size.
Shares of the ETF may only be purchased on NYSE through a U.S. registered broker-dealer. One cannot invest directly in an index. The Man Active Global Infrastructure ETF is distributed by Foreside Financial Services, LLC., a registered broker-dealer and FINRA member. S&P Global Infrastructure Index - S&P Global Infrastructure Index is designed to track 75 companies from around the world chosen to represent the listed infrastructure industry while maintaining liquidity and tradability.
The infra300® Equity Index is a comprehensive global index that represents the monthly total return of 300 unlisted infrastructure companies. This index is registered with ESMA as a market benchmark for private infrastructure investments and provides a reflection of the performance of the unlisted infrastructure sector.
1. This conclusion is derived from a direct comparison of the following: the S&P Global Infrastructure Total Return Index (listed infrastructure) delivered higher annualized returns than the infra300 Equity Index (private infrastructure) over both the 5-year (10.97% vs. 8.70%) and 10-year (9.42% vs. 6.97%) periods, while exhibiting a similar level of return volatility, as measured by standard deviation, over both the 5-year (13.89% vs. 15.33%) and 10-year (15.24% vs. 14.31%) periods — with listed infrastructure volatility falling within a comparable range to (and in the 5-year period, modestly below) that of private infrastructure. Based on this comparison across two independent, broad-based benchmarks, each intended to be representative of their respective segment of the infrastructure market, the team concludes that listed infrastructure has historically achieved equal or better risk-adjusted returns without the illiquidity premium typically associated with private infrastructure investment.
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