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IN A COMPLEX INVESTMENT LANDSCAPE, SURROUND YOURSELF WITH THE RIGHT INFORMATION

In an ever complex investment landscape, we find ourselves constantly bombarded with information. It takes the expertise, scale and experience of our specialist investment teams to help you navigate through these uncertain times – to determine what to listen to and what to ignore.

Global Infrastructure Securities


  • Peter Meany, Head of Global Infrastructure Securities

     

    In order to cut through the clutter and market noise, you need a focused team of experts with a depth of experience that is rare in our sector.

     

    We aim to deliver long-term capital growth and inflation-protected income by investing in companies around the world that own or operate infrastructure assets – say the roads, airports or water utilities that we rely on every day.

     

    While many of today’s infrastructure assets have been operating for 20 or 50 years, the availability of listed infrastructure funds is relatively new. Our focus list of high quality companies makes up less than 2% of the MSCI World and is often overlooked by generalists in the market. This provides our team of specialists the opportunity to create significant value – by uncovering mispriced stocks and minimising the risks.

     

    Our team of 8 portfolio managers and analysts have diverse backgrounds and deep experience in both infrastructure and equities markets. Importantly, we have been together for more than a cycle, we have made mistakes and grown from the experience, placing us in a strong position to preserve and grow our clients’ capital into the future.

     

    One of our key competitive advantages is on-the-ground research. Our team conducts over 500 company meetings a year - not only meeting with the CEO or CFO, who inevitably will have polished stories, but meeting with a range of stakeholders:

     

    Regulators present the biggest risk to infrastructure stocks – understanding their backgrounds and what motivates them is critical. Were they elected or appointed? Democrat or Republican? Consumer advocate or engineer?

     

    Competitors and suppliers often provide a non-consensus view, and the best insights are gained from meeting with private companies that are not listed on markets – these contacts take many years to build but are invaluable to our research.

     

    Asset tours also provide a unique perspective – understanding the congestion points on a tollroad, the revenue uplift from a new airport retail layout, or the improved efficiency from rail yard automation. Asset tours also tell you a lot about the culture of a company. Do managers understand return on capital? Is safety really a priority? Is the workforce genuinely diverse?

     

    Taking these insights, adding our proprietary valuation models and quality rankings, and a sensible macro overlay, provides a conviction portfolio that has consistently delivered for our investors. Our fund has outperformed its benchmark in 9 of the last 10 years.

     

    While the future may be uncertain, one thing you can rely on is our dedicated team of specialists delivering the right information, at the right time for you and your clients.

     

    We welcome the opportunity to help build your client’s wealth over the next 10 years.

     

     

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