RM Infrastructure Income plc is in managed wind-down and is returning capital to shareholders.

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Wind turbines on open moorland under a grey, broken sky

Real-asset investing, across listed and private markets

Since 2010 we have invested in infrastructure, specialist property and secured lending from Edinburgh and London, with a focus on income.

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Capital at risk. The value of investments and any income can fall as well as rise.

Latest prices

As at 16 Oct 2026

All figures

Onshore wind farm · Scotland · Renewable energy infrastructure

RMII discount uses NAV as at 30 Jun 2026.

  • Advisers and wealth managers

    Share classes, fund data and documents, and a direct line to our distribution team.

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  • Private investors

    What each fund holds, its risks and charges, and how to invest through your platform.

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  • RMII shareholders

    Price, NAV, capital returned and announcements for RM Infrastructure Income plc.

    Go to shareholder hub
Professional or institutional investor? See private strategies Outside the UK? Information for international visitors

Our funds, with the latest figures

Three daily-dealing UK funds investing in real assets, bonds and alternatives. Every figure shows the date it applies to.

Open-ended funds

Fund Price The price of one share in this share class at the fund's latest daily valuation. Daily change Change in price since the previous valuation. Prices move every day and short-term changes say little about long-term returns. Fund size The total value of the fund's investments across all share classes. Documents

Listed investment trust

Trust Share price The price shares last traded at on the London Stock Exchange, delayed by at least 15 minutes. NAV per share Net asset value (NAV) per share: what the trust's assets are worth after its debts, divided by the number of shares. Published as at 30 Jun 2026. Discount to NAV How far the share price is below the NAV per share. The two figures are from different dates. In a wind-down, what shareholders finally receive depends on future asset sales and costs, and may be more or less than the NAV. Shareholders

  • £47.3m returned to shareholders since the wind-down began, c.57% of the Nov 2023 NAV

    As at 1 May 2026

    In managed wind-down since shareholders approved it in December 2023. As assets are realised, the board decides the timing and size of each return. See wind-down progress

Capital at risk. The value of investments and any income from them can fall as well as rise. Prices are for the share class shown. Daily change is not a guide to future performance. Important information

Open-ended fund prices from each fund's administrator at the daily valuation point. RMII share price from the London Stock Exchange, delayed at least 15 minutes; NAV from the trust's announcements.

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Inside RM Alternative Income

Where the fund is invested, by asset class and the sectors within each.

RM Alternative Income by asset class: infrastructure 48.1%, property 29.4%, debt 19.9%, cash 1.5%, specialist real estate 1.1%.
Latest factsheetPDF · 412 KB Latest investor presentationPDF

Asset classShare of fund

    • Renewables: solar13.5%
    • Renewables: mixed11.0%
    • PPP (core)10.6%
    • Renewables: wind6.7%
    • Digital3.9%
    • Renewables: other2.5%

Source: RM Alternative Income factsheet. As at 30 Sep 2026. Sector weights may not add up to their asset class because of rounding.

A specialist investment manager, founded in 2010 and run from Edinburgh, authorised and regulated by the FCA.

About RM Funds
Across public and private strategies
As at Aug 2026
Year founded
2010
Head office, with a London office
Edinburgh
Authorised and regulated by the FCA
FRN562209
Check us on the FCA Register

Real assets, seen from both sides of the market

We invest in the physical assets economies depend on: infrastructure, specialist property and the businesses that run them. Some we reach through bonds and shares that trade daily. Others we finance or own privately.

Read about our approach
  1. RM Infrastructure BondListed bonds issued by infrastructure companies
  2. RM Alternative IncomeListed real-asset companies and trusts
  3. RM Defensive CapitalMostly listed bonds, trusts and alternatives
  4. RM Infrastructure Income plcListed trust holding private loans
  5. Private strategiesProfessional investors only

Placement is indicative and describes where each vehicle's underlying investments sit.

  1. Listed markets, for daily access

    Our three open-ended funds hold bonds and shares traded on public markets, so investors can normally buy or sell on any working day. Prices rise and fall with those markets.

  2. Private deals, sourced in-house

    Since 2016 our team has found, structured and monitored private loans to real-asset businesses. Private investments are harder to sell and are offered to professional investors.

  3. Each side informs the other

    Lending privately shows us how real-asset businesses work from the inside. The same team brings that view to the listed bonds and shares in our funds.

The assets behind the numbers

From battery storage to community pharmacies and power networks: the kinds of real assets our funds own, lend to or invest in.

Holdings shown for illustration. They may change and are not a recommendation.

A crane lifts a dark green battery storage container against a pale blue sky
Battery storage unit being installed · Energy storage
A pharmacist reaches for a box of medicine on a dispensary shelf
Community pharmacy dispensary · Healthcare property

Where our open-ended funds invest, by sector

Combined sector exposure of our three open-ended funds, from their latest factsheets.

  1. Infrastructure46%
  2. Specialist property24%
  3. Secured lending22%
  4. Cash and other8%
Source: RM Funds, fund factsheets. As at 30 Sep 2026.
Looking up at a high-voltage pylon and its lines against a cloudy sky
High-voltage lines · London · Regulated networks

The people who make the investment decisions

We are a team of ten. The portfolio managers who choose the holdings are named on every fund page, with how long they have run it.

Meet the team

Latest commentary and news

View all insights

Next webinar

RM Infrastructure Bond: Q4 2026 update

Thursday 26 Nov 2026, 11:00 UK

Register for this webinar

Engaged owners, on the record

Before we invest, we assess each company's environmental, social and governance risks, and we keep reviewing them while we hold it. When we disagree with a board, we say so. Our policies, ESG reports and Gore Street engagement are published in full.

  1. Before we invest

    Assess

    Every company's ESG risks are part of the investment case.

  2. While we hold

    Review

    Those risks are checked again periodically, not filed away.

  3. When we disagree

    Escalate

    We vote, engage with the board and, if needed, go public.

See our stewardship approach Follow the Gore Street campaign

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This website is for UK investors. It is not for US persons or anyone in a country where the information would be unlawful.

Nothing here is investment advice. If you're unsure, speak to a financial adviser.

The value of investments and any income can fall as well as rise. You may get back less than you invest.

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