Lazard Global Listed Infrastructure Active ETF (GIFL) Review & Analysis
- −4.7% in September (total return), behind the median property & infrastructure ETF at −3.9%.
- Investors added a net $75m (2.6% of the fund). That ranked #24 of 508 ETFs for new money.
- The unit price closed the month at $5.07, near its 12-month low (range $5.06 to $6.30).
About GIFL
GIFL is the Lazard Global Listed Infrastructure Active ETF. Lazard picks listed infrastructure companies around the world, focusing on what it sees as "preferred" infrastructure: businesses with monopoly style assets and predictable revenue, such as regulated utilities, toll roads, airports and rail networks. It is actively managed and does not track an index.
The portfolio is more concentrated than an infrastructure index and is chosen with an eye on valuation, so it can look quite different from the benchmark. Infrastructure earnings are often linked to inflation and tend to be steadier than the broader share market, which can help in tougher times. Income is a meaningful part of the return but is mostly unfranked. The main risks are rising interest rates, which tend to weigh on infrastructure valuations, regulatory change, and the higher fee of an active manager.
GIFL may suit investors who want an active infrastructure manager as a diversifier alongside shares. Passive alternatives include IFRA and GLIN. See GIFL vs IFRA and GIFL vs GLIN.
GIFL distributions and dividend dates
GIFL pays distributions quarterly, usually going ex-distribution in January, April, July and October, with payment about 14 days after the ex-date.
Its distribution yield over the past 12 months is about 10.5%. Distributions vary and past payments are not a guide to future ones.
From ASX announcements, updated nightly. See every ETF in the dividend calendar.
Compare GIFL with
| Fee | 0.98% | 0.20% |
| 1 year | +6.1% | +5.3% |
| 5 yrs p.a. | – | +5.3% |
| Size | $3.0bn | $2.1bn |
| Fee | 0.98% | 0.15% |
| 1 year | +6.1% | +5.7% |
| 5 yrs p.a. | – | – |
| Size | $3.0bn | $1.9bn |
| Fee | 0.98% | 0.97% |
| 1 year | +6.1% | −0.4% |
| 5 yrs p.a. | – | – |
| Size | $3.0bn | $678m |
| Fee | 0.98% | 0.47% |
| 1 year | +6.1% | −0.8% |
| 5 yrs p.a. | – | +6.0% |
| Size | $3.0bn | $648m |
| Stock Code | GIFL |
|---|---|
| Fund Manager | Lazard |
| Asset Class | Property & infrastructure |
| AUM | $3.0bn |
| MER (%) | 0.98% |
| Net flows (Sep) | +$75m |
| Last Price | $5.07 |
| 52-Week Range | $5.06 – $6.30 |
| Bid/Ask Spread | 0.20% |
| Listing Date | 12/06/2024 |
| Exchange | TMX Australia |
| Index | None: actively managed. See the PDS for its benchmark |
| Issuer website | Lazard ↗ |
Performance (% return)
$10,000 invested…
Value at 30 September 2026 with distributions reinvested, before tax and brokerage.
Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.
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