EDHECinfra Paper
2017 EDHECinfra Research Insights

Contents:
– Towards better infrastructure investment products?
– Looking for a listed infrastructure asset class
– Is private infrastructure different?
– Tracking credit metrics in private infrastructure debt
– Data collection for infrastructure investment benchmarking

In this Special Issue of EDHECinfra Research Insights We present the result of the first in-depth survey of institutional investors’ perceptions and expectations of infrastructure investment. Almost two thirds of surveyed institutions declared that they wanted to increase their current holdings of infrastructure investments.

The survey reveals some important evolutions and also important differences of perspectives, amongst investors and also between asset owners and managers. One of the key findings is that investors have no bench- marks and do not trust reported valuations.In a short article, we then look at whether an asset class of listed infrastructure exists. We do not manage to find listed proxies for infrastructure assets. We conclude that what is typically referred to as listed infrastructure is not an asset class or a unique combination of market factors. It cannot be persistently distinguished from existing exposures in investors’ portfolios. Expecting the emergence of a new or unique “infrastructure asset class” by focusing on public equities selected on the basis of industrial sectors is unlikely to be very useful for investors.

Asian Investor
2017 (June)
infraMetrics® by EDHECinfra

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