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RARE Infrastructure Value Fund Market Commentary – December 2011
By Richard Elmslie and Nick Langley, RARE Infrastructure Continued positive economic data (above expectations) from the US highlighted divergences from the EU with another Summit resulting in little tangible outcome from Europe’s politicians. China’s data, while appearing more stable, may be hiding serious imbalances in its (closed) financial system. MSCI World ended the month +0.5%, [...]
posted January 16, 2012
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RARE Infrastructure Summary of Top 10 Stocks as at 31 December 2011
The Top 10 Stocks for RARE Infrastructure as at 31 December 2011 are: 1. TransCanada (TRP): Market Capitalisation US$60.4b 2. Southern Company (OS USA): Market Capitalisation US$33.6b 3. American Water Works (AWK US): Market Capitalisation US$5.1m 4. Transurban Group (TCL): Mkt Cap AU$7.5b 5. National Grid PLC (NG/ LN): Market Capitalisation US$34.2b 6. Sydney Airports (SYD): Market [...]
posted January 12, 2012
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RARE Infrastructure Summary of Top 10 Stocks as at 30 November 2011
The Top 10 Stocks for RARE Infrastructure as at 30 November 2011 are: 1. MAp Airports (MAP): Mkt Cap $6.2b 2. Transurban Group (TCL): Mkt Cap AU$7.5b 3. American Water Works (AWK US): Market Capitalisation US$5.1m 4. TransCanada (TRP): Market Capitalisation US$60.4b 5. Southern Company (OS USA): Market Capitalisation US$33.6b 6. National Grid PLC (NG/ LN): [...]
posted December 12, 2011
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RARE Infrastructure Value Fund Market Commentary – November 2011
By Richard Elmslie and Nick Langley, RARE Infrastructure The first three weeks of November were characterised by positive fundamental US data (ISM, payrolls, retail sales, consumer confidence), but European Sovereign concerns & continued weaker European economic data (GDP, ISM, employment) weighed on the markets. By the last week of the month, European stocks were down [...]
posted December 9, 2011
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RARE Infrastructure Emerging Market Commentary – October 2011
By Richard Elmslie and Nick Langley, RARE Infrastructure The global equity indexes posted positive returns for the first time in months in October on optimism that the efforts of euro-zone leaders and US and European central bank intervention will ease the European sovereign debt crisis. The rally was aided by US Fed officials signalling their [...]
posted November 10, 2011
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RARE Infrastructure Value Fund Market Commentary – October 2011
By Richard Elmslie and Nick Langley, RARE Infrastructure There was a broad based rally across risk assets in October from the lows of the year at the end of September. Confidence was improving over the month for an extensive European sovereign and banking bailout package, and when finally released it was largely in line with [...]
posted November 10, 2011
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RARE Infrastructure Summary of Top 10 Stocks as at 31 October 2011
The Top 10 Stocks for RARE Infrastructure as at 31 October 2011 are: 1. MAp Airports (MAP): Mkt Cap $6.2b 2. TransCanada(TRP): Market Capitalisation US$60.4b 3. Transurban Group (TCL): Mkt Cap AU$7.5b 4. Vinci SA (DG): Market Capitalisation US$34.1b 5. Southern Company (OS USA): Market Capitalisation US$33.6b 6. National Grid PLC (NG/ LN): Market Capitalisation US$34.2b 7. [...]
posted November 9, 2011
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Investment in Airports – Different Risks For Different Airports
By Ben May, RARE Infrastructure RARE has a number of investments in airport assets around the world. RARE looks for long term stable financial returns and as a result, RARE has investments in gateway and hub airports. A gateway airport is typically a country’s major airport with the most number of arriving and departing international [...]
posted November 8, 2011
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Qantas Grounding Impact On Investors in Airports
By Ben May, RARE Infrastructure The recent grounding of Qantas aircraft highlights the difficult operating conditions for airlines. Labour is typically an airline’s biggest expense followed by fuel. The ongoing disputes between Qantas, its staff and unions over job security and pay claims come at a time of high fuel costs. There is therefore pressure [...]
posted November 7, 2011
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RARE Infrastructure Emerging Market Commentary – September 2011
By Richard Elmslie and Nick Langley, RARE Infrastructure MSCI EM index posted a 7.4% decrease in local currency underperforming the MSCI World (-6.2%). It was a very volatile month. The tepid pace of global growth coupled with the mounting fear of a Greek default led to global risk aversion, reflected by the VIX increasing by [...]
posted October 18, 2011
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