Kernel Global Infrastructure

At 0.25 percent total fees, this fund charges a quarter of the typical cost for an international share fund while placing 23rd for one-year returns in its category and 19th over three years. Kernel Global Infrastructure holds just $2.5 million in assets and backs a single theme: the pipes, towers, grids and toll roads that underpin modern economies.

The portfolio is concentrated and deliberate. Canadian pipeline giant Enbridge commands 7.1 percent. Williams Companies and TC Energy add more North American energy infrastructure. National Grid brings British electricity transmission. French construction and concessions group Vinci and American Tower round out a top ten that accounts for over 44 percent of the fund. The US dominates at roughly half the holdings, with Canada, Europe and a sliver of Australasian shares filling the rest. This is a pure infrastructure play, not a diversified equity fund.

Returns have been solid rather than spectacular: 11.9 percent over one year and 13.9 percent annualised over three. The fund sits in the middle of its category, not leading but tracking infrastructure's steady compounding. A high-growth fund built for long time horizons, it offers narrow sectoral exposure at a price point well below the category norm.

General information only, not financial advice. Past performance is not a reliable indicator of future results.