EDHECinfra is an infrastructure investment index provider. find out more.

The most benchmarks for infrastructure investors.

Combining the detail and quality of individual company analysis with the power and robustness of modern financial theory to create a deep understanding of the drivers of risk and return in the unlisted infrastructure asset class.

2020Q1 Unlisted Infrastructure Index Release

Infra300tm Equity Index Performance (local currency returns)

2020Q1 Index Release Comment

The Q1 2020 release of the EDHECinfra unlisted equity indices catches the impact of the Covid-19 lockdown on hundreds of unlisted infrastructure companies in 22 countries as of March 31st 2020.

The Infra300 equity index, which is designed to capture the structure of the investable universe, is down at -6.37% on the quarter, very close to the Global Unlisted Equity Index which reports a weighted average return of -6.34%.

Both index includes a substantial exposure to the ‘merchant’ business risk bucket (TICCS-BR2) which was the most directly impacted by Covid-19 lockdown. The Merchant Infrastructure Equity Index returned -9.15%, while the Advanced Economies Unlisted Airport Index (equal weights) further slumped at -10.16% quarterly returns. The Unlisted Road Index (equal weights) reaches -13.67% for 2020Q1.

Despite lower base rates in most countries, discount rates (IRRs) have jumped by more than 80bp on average (50th centile) up to close to 250bp for the top of the distribution. The average unlisted infrastructure risk premia now stands at 6.84%, substantially higher than at the end of 2019 .

The EDHECinfra equity style indices, which can report the performance of portfolios built by size quantiles for example, show that larger infrastructure assets have suffered more than smaller ones (which tend to be of the contracted type). The equally-weighted index for smaller size bucket is down by -3.5% this quarter while the larger size bucket index (4th quartile) is down -8.8% over the same period.

To produce these results, the EDHECinfra team of analysts conducted a firm-by-firm review of the impact of the Covid-19 lockdown on the future revenues of all major infrastructure affected by the crisis especially Merchant (TICCS/BR2) and Transport (TICCS/IC60) companies. The EDHECinfra asset pricing technology allowed estimating the quarter-on-quarter increase in risk premia from available market inputs in order to produce a mark-to-market assessment of the value of each index constituent.

Download the index factsheet: USD returns | Local currency returns  

To access 20 years of index data, analytics and constituent-level data register on indices.edhecinfra.com

The infra300 is the new EDHECinfra flagship equity index and is available free of charge on the platform and through Bloomberg. Please note that from 2020-03-31 the EDHECinfra Broadmarket Indices (equity and debt) are only available to index data licence holders. For more information please contact sales@edhecinfra.com.

Join us for a webinar on the impact of Covid-19 on unlisted infrastructure investment on April 28th at 10am GMT. Registrations here.

Get Started

It's free and super quick to sign up on the EDHECinfra platform. All registered users get free access to the infra300tm series of flagship indices going back 20 years.

Register for freeAccess the index data platform today

In the News

Announcements

INdex DoCumentation

2020 Updated Edition
Q1 2020-Webinar replay

Covid-19 impact

Want a demo or trial?

The EDHECinfra platform gives access to dozens of analytics for hundreds of unlisted equity and private indices.

Granular Data

Several hundreds index families are available using multiple reporting currencies and weighing schemes.  

Rich Analytics

Each index family includes dozens of analytics describing the risk profile, valuation and structure of each index

quarterly Updates

All 400+ index families available in the EDHECinfra platform are updated quarterly on the 10th day of the quarter.

Do NOT follow this link or you will be banned from the site!

DISCLAIMER

  • The information contained on the EDHECinfra website (the “information”) has been prepared by EDHECinfra solely for informational purposes, is not a recommendation to participate in any particular investment strategy and should not be considered as an investment advice or an offer to sell or buy certain securities.

    All information provided by EDHECinfra is impersonal and not tailored to the needs of any person, entity or group of persons. The information shall not be used for any unlawful or unauthorised purposes. The information is provided on an “as is” basis.

    Although EDHECinfra shall obtain information from sources which EDHECinfra considers to be reliable, neither EDHECinfra nor its information providers involved in, or related to, compiling, computing or creating the information (collectively, the “EDHECinfra Parties”) guarantees the accuracy and/or the completeness of any of this information.

    None of the EDHECinfra Parties makes any representation or warranty, express or implied, as to the results to be obtained by any person or entity from any use of this information, and the user of this information assumes the entire risk of any use made of this information. None of the EDHECinfra Parties makes any express or implied warranties, and the EDHECinfra Parties hereby expressly disclaim all implied warranties (including, without limitation, any implied warranties of accuracy, completeness, timeliness, sequence, currentness, merchantability, quality or fitness for a particular purpose) with respect to any of this information.

    Without limiting any of the foregoing, in no event shall any of the EDHECinfra Parties have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits), even if notified of the possibility of such damages.

    All EDHECinfra Indices and data are the exclusive property of EDHECinfra. Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Past performance does not guarantee future results. In many cases, hypothetical, back-tested results were achieved by means of the retroactive application of a simulation model and, as such, the corresponding results have inherent limitations.

    The Index returns shown do not represent the results of actual trading of investable assets/securities. EDHECinfra maintains the Index and calculates the Index levels and performance shown or discussed, but does not manage actual assets. Index returns do not reflect payment of any sales charges or fees an investor may pay to purchase the securities underlying the Index or investment funds that are intended to track the performance of the Index. The imposition of these fees and charges would cause actual and back-tested performance of the securities/fund to be lower than the Index performance shown. Back-tested performance may not reflect the impact that any material market or economic factors might have had on the advisor’s management of actual client assets.

    The information may be used to create works such as charts and reports. Limited extracts of information and/or data derived from the information may be distributed or redistributed provided this is done infrequently in a non-systematic manner. The information may be used within the framework of investment activities provided that it is not done in connection with the marketing or promotion of any financial instrument or investment product that makes any explicit reference to the trademarks licensed to EDHECinfra (EDHECinfra, Scientific Infra and any other trademarks licensed to EDHEC Group) and that is based on, or seeks to match, the performance of the whole, or any part, of a EDHECinfra index. Such use requires that the Subscriber first enters into a separate license agreement with EDHECinfra. The Information may not be used to verify or correct other data or information from other sources.

    The terms contained in this Disclaimer are in addition to the Terms of Service for users without a subscription applicable to the EDHECinfra website, which are incorporated herein by reference.

    This site uses cookies to deliver the services you request, improve user experience and measure audience. By continuing to browse our website, you are consenting to our use of cookies. Find out more about this in our Privacy policy.

    • I AgreeI Disagree
    X
    X
    X