Maria Merricks asks industry experts for their views on the infrastructure investment story and the best ways to play it.
Andrew Morris, managing director of Signature, a division of Rowan Dartington Our preference is to invest in funds with wider global mandates, giving the manager the broadest possible investment universe. Listed closed-ended infrastructure funds offer exposure to Private Finance Initiative (PFI) projects. They produce a reliable and relatively high level of income, and offer an element of inflation protection in the form of CPI or RPI linked contracts. However with low interest rates and government bond yields boosting discounted cash flow valuations, a sharp change in interest rate...
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