IFT - Infratil

**maclir** · 21-05-2024, 09:24 AM

Indeed. And interestingly it was one they were - probably still are - keen to exit. But with no reasonable sale opportunity, they just oversee that it is run very well.

**LaserEyeKiwi** · 21-05-2024, 09:32 AM

IFT. Absolute ballers. I always hate seeing the size of the management fee, but man do they continue to justify it with extraordinary returns.

**huxley** · 21-05-2024, 09:33 AM

Net asset value per share $14.35

Feels a bit like the numbers provided by the likes of Blackstone and Brookfield, but I’ll take it!!

**Ggcc** · 21-05-2024, 10:09 AM

Originally Posted by LaserEyeKiwi

IFT. Absolute ballers. I always hate seeing the size of the management fee, but man do they continue to justify it with extraordinary returns.

We might see 5 days worth of downward pressure for the management fee will be taken up in shares worth $50 million at 98% of the average share value over the next 5 days. The lower it is the more shares they receive and the better it is for them longterm. Either way I have never felt a management fee is the issue.

**LaserEyeKiwi** · 21-05-2024, 10:16 AM

$10.80c?

why the negative reaction?

**JeffW** · 21-05-2024, 10:24 AM

Originally Posted by LaserEyeKiwi

$10.80c?

why the negative reaction?

I suspect in part because of the proposed Capex this year - see slide 32 of the results presentation. Maybe a capital raise on the way?

**RTM** · 21-05-2024, 10:34 AM

Originally Posted by LaserEyeKiwi

$10.80c?

why the negative reaction?

I don't know and really, seriously, I don't care. The report is solid. I like the stuff they are invested in. They seem to be able to deliver, over and over again.
I'm just going to sit back and enjoy the ride.

A wee drop in the share price is only of concern if you intend to sell. I don't. And if it dropped a lot more, and no other negatives, I'd buy more.

**LaserEyeKiwi** · 21-05-2024, 10:52 AM

Management were just asked on the conference call regarding funding options, they strongly indicated that they have plenty of scope for funding through debt and regular asset sales in the renewables segment that cap raises won’t be needed. (A lot of the renewables segment capex planned is for projects that are usually sold to third parties before the project capex is actually required)