EDHECinfra Index Methodology

EDHECinfra indices and benchmarks aim to provide the representative, risk-adjusted performance of investments in unlisted infrastructure equity and private debt.

EDHECinfra produces calculated (as opposed to contributed) indices: our data and technology allows re-pricing hundreds of individual assets through time, using actual transaction prices to recalibrate expected returns (and discount rates).

This approach uses market inputs, thus avoiding the smoothing of returns caused by appraisal valuations and providing a genuine fair value assessment of performance.

Unlike other private indices, which only report an average performance, EDHECinfra indices include the effect of diversification and provide advanced risk metrics such as volatility, value-at-risk and risk factor prices. The index calculation method is summarised below in four key steps.

Menu

TICCS: The Infrastructure Company Classification Standard

Image

Private infrastructure investment is developing rapidly as a global asset class. This evolution requires a clear and robust classification of the individual infrastructure companies that equity investors can acquire or debt investors lend to. The Infrastructure Company Classification Standard (TICCS) was created by EDHECinfra to provide investors with a frame of reference to approach the infrastructure asset class.

Image

It offers an alternative to investment categories that were inherited from the private equity and real estate universe (e.g. 'Core' vs. 'Core+') which may not be the most informative when trying to group infrastructure investments and design strategies or simply document the structure of the sector. TICCS is designed to be compatible with other standard investment classification schemes but also uses fundamental insights from the academic literature to create a classification that embodies some of the key aspects of infrastructure businesses' risk profiles.

The 2019 TICCS Consultation is Open!

Current TICCS documents

I agree to the terms and conditions
Download TICCS 2018.10
I agree to the terms and conditions
Download the companion spreadsheet 2019.1
I agree to the terms and conditions
Download the xml schema 2019.2
I agree to the terms and conditions
TICCS Governance 2019.5

TICCS Governance

TICCS is reviewed once a year in the context of a global consultation and the expert advice of the TICCS Review Committee:

  1. Andrew Knight (RICS) – Chairman
  2. Avi Turetsky (Landmark Partners) – Secretary
  3. Mark Blair (OTPP)
  4. Patrick Boylan (BlackRock)
  5. Anne-Christine Champion (Natixis)
  6. James Davies (OPTrust)
  7. Christophe Dossarp (SOURCE)
  8. Marie Lam-Frendo (Global Infrastructure Hub)
  9. Trevor Lewis (Asian Development Bank)
  10. Christoph Manser (Swiss Life)
  11. Laurence Monnier (Aviva Investors)
  12. Petya Nikolova (New York City Comptroller’s Office)
  13. Paul Shantic (CALSTRS)
  14. Marija Simpraga (LGIM)
  15. Nicholas Tan (Clifford Capital)
  16. Rick Walters (GRESB)

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 Agree
    X
    X