Emerging Markets Infrastructure Income Fund (TSX:MQA.UN) Monday announced a 13% increase in its quarterly distribution.
The fund has declared its next distribution, payable on July 15 to unitholders of record on June 28, will increase to $0.17 per unit from $0.15 per unit.
“The companies in the portfolio continue to perform largely in line with expectations and this solid performance has been reflected in their share prices. The increase in distributions is driven by the ongoing improved market conditions and lower borrowing costs for the companies we invest in.” said Jonathan Ong, co-portfolio manager of the fund.
The increased distribution follows strong performance for the fund of 7.7% per year since inception to May 31, 2013. This is more than 10% per year ahead of broad emerging market equities which had performance of -2.4% per year during the same time period (measured using the MSCI Emerging Markets Index (Canadian dollars)).
Macquarie Capital Investment Management LLC (MCIM), a member of Macquarie Group, is a global leader in the listed infrastructure sector and acts as the portfolio manager of the fund. MCIM is part of the Macquarie Funds Group (MFG), Macquarie Group’s funds management business. MFG is Australia’s largest asset manager with over $364 billion globally in assets under management as at March 31.
Toronto-based Connor, Clark & Lunn Capital Markets Inc. is the manager of the fund.