Argo Global Listed infrastructure (ASX:ALI) said that its portfolio trailed the benchmark index over the June quarter, declining by 1.6% in Australian dollar terms, according to a Tuesday Australian bourse filing.

The positive contributors were outweighed by holdings across other areas of the portfolio, particularly among electric utilities and midstream energy stocks.

However, for the 12 months ended June 30, the portfolio returned 19.9%, outperforming the benchmark and exceeding local equities, which returned 13.8%.

Marine Ports were the top-performing infrastructure subsector during the quarter due to delayed tariffs and easing global trade tensions, it noted.