1Source: FTSE Global Core Infrastructure Index 50/50 as of 12/31/2016. “Explicit Inflation Pass Through” includes companies with the ability to offset higher costs through reve-nues that rise in tandem with inflation, over a relatively short timeframe. “Implicit Inflation Pass Through” applies to companies with revenues that rise with inflation over a longertimeframe. “Market Based Monopolistic” category applies to companies who have dominant pricing power in their sectors, whereas Market Based Competitive applies to thosewith less pricing power. Companies that have fixed escalators in their contracts are grouped in the “Escalators” category and are deemed to have the least inflation protection.Standard & Poor’s 500 Indexis an unmanaged capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy throughchanges in the aggregate market value of 500 stocks representing all major industries.
2Source: Global infrastructure universe is represented by CBRE Clarion Infrastructure investable universe, Global Equities: MSCI AWCI Index and U.S. Inflation: U.S. ConsumerPrice Index data as of 12/31/2017. This information is subject to change and should not be construed as investment advice. An index is unmanaged and not available for directinvestment For comparison purposes, company operating earnings and the U.S. Consumer Price Index values were rebased to 100 on 12/31/2000. Yields fluctuate and are notguaranteed. Past performance is no guarantee of future results.
©2018 CBRE Clarion Securities LLC. All rights reserved. The views expressed represent the opinions of CBRE Clarion which are subject to change and are not intended as aforecast or guarantee of future results. Stated information is provided for informational purposes only, and should not be perceived as investment advice or a recommendation forany security. It is derived from proprietary and non-proprietary sources which have not been independently verified for accuracy or completeness. While CBRE Clarion believes theinformation to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability. Statements of future expectations, estimates, projections,and other forward-looking statements are based on available information and management’s view as of the time of these statements. Accordingly, such statements are inherentlyspeculative as they are based on assumptions which may involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially fromthose expressed or implied in such statements.
Past performance of various investment strategies, sectors, vehicles and indices are not indicative of future results. Investing in infrastructure securities involves risk includingto potential loss of principal. Infrastructure equities are subject to risks similar to those associated with the direct ownership of infrastructure assets. Portfolios concentrated ininfrastructure securities may experience price volatility and other risks associated with non-diversification. While equities may offer the potential for greater long-term growth thansome debt securities, they generally have higher volatility. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differencesin generally accepted accounting principles, or from economic or political instability in other nations. There is no guarantee that risk can be managed successfully. There are noassurances performance will match or outperform any particular benchmark. Indices are unmanaged and not available for direct investment. PA03122018