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EDHECinfra is a provider of market indices, benchmarks and valuation analytics for investors in unlisted infrastructure equity and private debt.

Asset owners, asset managers, consultants and asset valuation professionals use our datasets, which tracks thousands of investments in 25 countries over the past 20 years. Our data is available on a quarterly basis for hundreds of indices and on a monthly basis for selected market benchmarks.

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Fair value and volatility, ESG, and the next generation of data for infrastructure investors.
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The Volatility of Unlisted Infrastructure Investments

Adequate and reliable measures of volatility drivers and trends.
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Asset Valuation

The precision of advanced asset pricing technology applied to unlisted infrastructure assets.
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Our team of researchers and analysts continues to explore the questions that matter to the infrastructure investment sector.

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Superannuation Performance Test

Using a fair and representative benchmark to represent the unlisted infrastructure asset class.
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Asset Allocation

Infrastructure equity and debt have a significant role to play in a multi-asset class portfolio.
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Q3 2021 Unlisted Infrastructure Index Release

Infra300® Equity Index Performance (local currency returns)

wdt_ID - Latest quarter 1-year 3-year 5-year 10-year Inception
1 Total Returns 4.00 9.24 7.31 4.71 12.35 14.02
2 Excess Returns 3.99 9.27 6.99 4.30 11.61 11.55
3 Volatility - - 10.25 10.11 12.19 11.73
4 Sharpe Ratio - - 0.68 0.42 0.95 0.98
5 Value-at-Risk - - 17.02 19.82 21.41 18.01

Q3 2021 Index Release Comment

Download the index factsheet: USD returns | Local currency returns  

Q3 2021 EDHECinfra Release:
Steady recovery but risks remain 

With two consecutive quarters of strong performance, the unlisted infrastructure asset class is inching closer to its all-time high of 2019, but a higher equity risk premia indicates persistent uncertainty in some sectors.

The infra300® index, which tracks a representative global sample of unlisted infrastructure equity investments worth approximately USD 250bn, rose 4% in Q3 (local currency returns), as the average discount rates remained flat at 8.2% after the increase in interest rates was offset by a drop in the equity risk premia. On a year-on-year basis, the index returned 9.2%, approximately one-third of which can be attributed to the growth in valuations.

At the sector level, the transport sector (TICCS® – IC60) recovered the most and contributed more than half of the broad-market index return. Nevertheless, the airport index remains at its lowest point in more than 5 years. A drop in the valuations of hydroelectric power plants also dampened the returns of the global renewable energy sector (TICCS® – IC70) at 0.4% on the quarter. The wind and solar sectors returned 1.13% on the quarter in local currency. In aggregate, the contracted segment of infrastructure companies (TICCS® – BR10) continued to exhibit a stable performance at 1.5% in local currency for this quarter.

Looking at the corporate governance buckets (TICCS® – CG), both infrastructure projects and corporates saw a small drop in equity risk premia, but the longer duration of infra corporates led to a higher capital appreciation performance over the quarter on a fair market value basis.

Private infrastructure debt saw a small drop in credit spreads but also a rise in the yield curve. The broad market debt index returned 0.3% in Q3. This index includes more than 1,000 senior debt instruments across infrastructure corporates and projects with a market capitalisation of almost USD 250bn. Average credit spreads for all private infra debt now stand at c.140 bp, their lowest level in over 10 years. Yield-to-maturity, on the other hand, remains higher than the pre-pandemic level at c.2.5%.

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

Join us for a webinar on the impact of Covid-19 on unlisted infrastructure investment volatility on June 23rd at 10am GMT. Registrations here.

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.

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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.
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