Stay up-to-date with the current investment and macroeconomic issues. Our listed infrastructure experts analyse the themes and trends which lie at the heart of your investment challenges.
The premise of listed infrastructure investing is that while regulatory regimes and concession agreements are designed to produce outcomes over long periods of time, the majority of general equity investors have a shorter time horizon. This timing mismatch provides the opportunity for long-term investors to use liquidity to enhance infrastructure returns.View full article
Listen to Senior Portfolio Manager Shane Hurst discuss the valuations from Q2 2020 within the infrastructure asset class and why valuations remain attractive on a medium, to long-term excess return basis.
Top performing stocks for the quarter included American midstream company Cheniere, American rail company Union Pacific, Australian toll road company Transurban and American comms companies Crown Castle and American Tower.
Top performing stocks for the quarter included American renewables companies Nextera Energy Partners, Clearway Energy and TerraForm Power, Australian toll road company Transurban and American electric company Dominion Energy.
Explore ClearBridge Investments Recession/Recovery Dashboard, which identifies the conditions that have been historically instrumental in forming both recessions and market recoveries.
Hard data showed meaningful improvements from the rapidly induced coronavirus lows at the start of the quarter. Purchasing manager indexes, retail activity, employment numbers and economic growth showed signs of recovery, although all remained well below pre-COVID-19 levels, keeping economies under stress raising the risk of insolvencies as stimulus is dialled back.
During the quarter governments unveiled unprecedented fiscal stimulus aimed to support economies during the coronavirus pandemic. Lockdowns gradually eased during the quarter, although in key geographies such as the U.S., risks of a second wave are increasing, and lockdown measures are beginning to be re-introduced in some regions.
General equities rebounded strongly during the quarter supported by policy stimulus and the easing of mobility restrictions. Global infrastructure, including our Global Listed Infrastructure funds, underperformed general equities during this exceptionally strong rebound.
The RARE Global Infrastructure Index seeks to provide focused exposure to infrastructure companies by analysing the actual sources of corporate cash flows rather than high-level industry classifications.
For investors looking to achieve inflation-linked absolute returns, the infrastructure asset class provides a number of attractive characteristics. Over the past 10 years, infrastructure has emerged as a stand-alone asset class, and many large institutions have made sizeable allocations within their portfolios.
Amidst the environment of COVID-19, learn why the Emerging Markets are providing tremendous value for investors.
Listen to Co-Founder, Senior Portfolio Manager, Nick Langley present RARE's view on if all sectors are exposed to the predicted weakness in the economy.