FMSSX — Frontier MFG Select Infrastructure Fund
Data updated: 2023-09-08
FMSSX — Frontier MFG Select Infrastructure Fund. Developed ex-US Real Estate · $95.46M AUM · 0.95% expense ratio. Holdings, fees, performance and SEC filings.
FMSSX Fund Overview
FMSSX — Frontier MFG Select Infrastructure Fund is a US mutual fund managed by Mfg Funds, Inc., categorised as Developed ex-US Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Mfg Funds, Inc.
- Category: Developed ex-US Real Estate
- Assets under management: $95.46M
- 1-year return: 0.7%
- Ticker: FMSSX
- SEC CIK: 0001014913
- SEC series ID: S000062285
- Share class ID: C000201868
FMSSX Investment Objective and Strategy
Frontier MFG Select Infrastructure Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mfg Funds, Inc..
Investment objective
The investment objective of the Frontier MFG Select Infrastructure Fund (the Fund) is to seek attractive risk-adjusted returns over the medium- to long-term, while reducing the risk of permanent capital loss.
Principal investment strategy
Under normal market conditions, the Fund invests a minimum of 80% of its net assets in the equity securities of infrastructure companies. The Fund will invest in common stock, stapled securities (an equity security comprised of multiple parts) and Real Estate Investment Trusts (REITs) of infrastructure companies as part of its principal investment strategy. The Fund will concentrate in the securities of companies operating in infrastructure-related industries. The Fund will invest in both U.S. and non-U.S. companies and may invest in companies of any size, with a minimum market capitalization of $500 million. The Funds subadviser, Magellan Asset Management Limited doing business as MFG Asset Management (MFG Asset Management) seeks to provide investors with exposure to the infrastructure sector and to deliver stable investment returns relative to other equity funds.
The Fund will invest in a non-diversified portfolio of securities of infrastructure companies that MFG Asset Management has determined have an appropriate capital structure, are likely to generate reliable income streams and are likely to benefit from inflation protection. The Fund will normally hold a limited number (typically 20 to 40) of companies that meet these criteria. The Fund will typically hold up to 20% of its assets in cash and cash equivalents.
FMSSX Holdings
Top 10 holdings of Frontier MFG Select Infrastructure Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| U.S. Bank Money Market Deposit Account | 13.16% |
| Atmos Energy Corp | 6.39% |
| Red Electrica Corp SA | 5.09% |
| Crown Castle International Cor | 5.01% |
| Enbridge Inc | 4.86% |
| Eversource Energy | 4.85% |
| Transurban Group | 4.68% |
| Xcel Energy Inc | 4.66% |
| Koninklijke Vopak NV | 4.62% |
| Sempra Energy | 4.33% |
FMSSX Portfolio Allocation
Asset-class allocation of Frontier MFG Select Infrastructure Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 86.1% |
| Cash & Equivalents | 13.2% |
FMSSX Performance
Total returns for FMSSX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 0.7% |
| 3 years (annualised) | 4.8% |
FMSSX Risk Information
Risk metrics for FMSSX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 22.4%
FMSSX Costs and Fees
FMSSX costs about $95 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.95%
- Gross expense ratio: 1.16%
- Portfolio turnover: 27%
- Brokerage commissions: 2.66 bps of average net assets (SEC N-CEN)
FMSSX Cashflows
Over the 12 months to 2023-06, Frontier MFG Select Infrastructure Fund had net inflows of $46.64M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | $13.38M |
| 2023-05 | $5.07M |
| 2023-04 | $3.73M |
| 2023-03 | $3.49M |
| 2023-02 | $2.30M |
| 2023-01 | $1.40M |
FMSSX Debt Constituents
No individual debt constituents are reported in Frontier MFG Select Infrastructure Fund's latest SEC N-PORT filing.
FMSSX Prospectus and SEC Filings
Official Frontier MFG Select Infrastructure Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-10-28
- Prospectus (485BPOS) — filed 2021-10-28
- Prospectus supplement (497) — filed 2020-11-04
- Portfolio holdings (N-PORT) — filed 2023-08-25
- Portfolio holdings (N-PORT) — filed 2023-05-25
- Portfolio holdings (N-PORT) — filed 2023-02-22
- Annual census (N-CEN) — filed 2023-09-08
- Annual census (N-CEN) — filed 2022-09-06
Related Funds
Other Developed ex-US Real Estate funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.