About RARE

A distinctive view of infrastructure

At RARE, we aim to deliver an infrastructure return through the listed markets, not an equity return via infrastructure stocks. To achieve this, RARE's proprietary investable universes include only 'core infrastructure' securities. These companies own hard assets that are essential to society and have regulatory and/or contractual frameworks which provide stable and predictable cash flows.

Long term investment approach

RARE’s approach to company valuation mirrors that used by unlisted investors and centres around the belief that, over time, the underlying value of assets is reflected in long-term cash flows. Many generalist investors take a shorter term view which can create market mispricings. These differences provide clear investment signals, allowing RARE to position portfolios to generate long-term infrastructure returns.

Benchmark-unaware

RARE believes that an absolute return, inflation-linked benchmark is the most appropriate primary measure against which to evaluate the long-term performance of a listed infrastructure strategy. This approach ensures portfolio construction focuses on delivering long-term real returns and provides flexibility to manage through changing economic environments, as opposed to index relative positioning which can adversely impact stock selection decisions over the long term.

Depth and excellence in research

RARE's Investment team is one of the largest in the peer group. Our singular focus creates long-term value for investors through deep understanding and pricing of infrastructure-related risks. The team has a diverse range of specific skills developed from backgrounds including unlisted infrastructure investing, research, and roles working for or advising regulators, governments, infrastructure companies and investors. The team at RARE are infrastructure experts managing Funds, not fund managers investing in infrastructure. 

Considered risk management

At RARE, understanding and managing risk is interwoven throughout all aspects of our investment process and investment committee approach to portfolio construction. At the heart of our bottom-up investment process is understanding and managing the relationship between risk and returns as it applies to infrastructure assets.

This approach is reflected in our name; Risk Adjusted Returns to Equity (RARE).