Kempen Global Listed Infrastructure: Update
To your good health, as you take time away from the many other things in your day to read our first update. The adverse economic impact of the global COVID-19 outbreak has impacted financial markets, including the listed infrastructure market. With both the supply- and demand-side impacted, the consequences for certain infrastructure assets are significant. Globally the traditional infrastructure, like airports and toll roads are facing issues from either a collapse in passenger numbers (which is more severe than post Sept 2001, or SARS), or widespread working from home. On the other hand, the relative inelastic demand of utilities and communication infrastructure made those companies more resilient than the transport infrastructure (and general equity markets).