Invests primarily in equity securities of U.S. and non-U.S. infrastructure-related issuers. Seeks capital appreciation as its primary investment objective. Now — the numbers.
The stock trades below its peak — about 9% off the top. A pullback, not a collapse.
It paid $1.96 per share over the last 12 months, with payments going back years without a break — regular cash for whoever holds the stock.
At last year’s rate of cash burn, the cash lasts less than a year. After that, the company needs to find new money.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.