Global Listed Infrastructure
A young and increasingly important asset class
The strategy will select listed companies operating or managing assets such as airports, toll roads, data centres, satellites, pipelines and grids. Our focus is on companies with attractive risk-return and diversification characteristics, and limited sensitivity to fluctuating GDP growth or commodity pricing.
Infrastructure’s tangible assets deliver stable, predictable cashflows, often with inflation compensation. High entry barriers, quasi-monopolies, price regulation and long-term contracts all impact positively on the risk-return ratio, reflected in shares with an above-average income profile and lower volatility than other equities.
“We focus on companies with limited sensitivity to GDP growth or commodity pricing.”Thomas van der Meij, Manager, Kempen Listed Infrastructure Fund.
Acquire tomorrow’s key assets today
Digitization, urbanization and environmental issues all require new infrastructure investments, and with a growing and aging population, it is estimated that some 75% of infrastructure that will be in place by 2050 doesn't exist today. Financing to bridge the current investment gap will increasingly come from private investors (both direct and via the listed market). As a result, the relatively young listed infrastructure sector will form a growing proportion of investment portfolios over the coming years.
Kempen has a strong track record and considerable know-how in real estate, and more recently direct infrastructure. Our real asset team also employs a unique data-driven approach to valuation. Pioneering the integrated use of IT and analytics, our in-house research team processes large quantities of financial, corporate and asset data to understand and visualise trends and cycles in such areas as road traffic, airport passenger numbers and energy prices. Resulting in robust, fact-based decision-making and greater transparency when it comes to investments.
Kempen is the first Dutch asset manager investing globally in listed companies that manage and own infrastructure.
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Webinar Infrastructure: Stimulus, Sustainability and Inflation protection
Infrastructure Goldilocks: Stimulus, Sustainability and Inflation protection
The announcement by US President Joe Biden of massive investments to improve the country’s infrastructure and hasten its transition to clean energy has hit the headlines: with around USD 2 trillion of planned expenditure, the US government has put infrastructure firmly under the spotlight. But the infrastructure story isn’t reliant on one act by the US government. At Kempen we believe it’s a multi-decade secular growth theme that offers compelling opportunities for investors. Want to find out how an allocation to the asset class could benefit your portfolio?
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