Editorial
INFRASTRUCTURE
CONTENTS
P4 : In figures The infrastructure market in six numbers P5: The participants
An economy will struggle to generate growth without sufficient and modern infrastructure. Roads, bridges and trains to get you from A to B without unnecessary delays, clean water at the turn of a tap, energy at the flick of a switch, fast broadband speeds and being able to use your phone no matter where you are in the country are crucial. The problem is that Europe and North America are old civilisations. Roads and bridges need repairing, while the energy generation and communications networks need upgrading as we are now in the dig- ital age while decarbonising the economy is a policy adopted by many governments. But building roads, wind farms and a nationwide electric vehicle charging network are expensive. Indeed, the global infrastructure funding gap by 2040 is estimated to be $15trn ($12.4trn). So where will the money come from to update the energy system, repair the roads and make our broadband more efficient. One policy that is being pursued by Britain’s government is to turn to the stewards of large pots of private capital: institutional investors. But are pension schemes and insurers interested in infrastructure? If so, what assets do they want in their portfolio? And what do they think of the quality of the assets? To find out we put together a panel of investors, their fund managers and those advising them on the asset class. We were also joined by a representative of a body working to promote sustainable infrastruc- ture, because countries will struggle to transition their economies towards cleaner sources of energy without it.
Mark Dunne Editor
m.dunne@portfolio-institutional.co.uk
A look at who took part in our discussion P6-23: The roundtable
A transcript of our debate on institutional investors and the infrastructure market
P24-25: Infrastructure debt and the energy transition
Edmond de Rothschild’s Jean-Francis Dusch explains how institutional investors can help create a sustainable future through re-building the world’s infrastructure.
P26-27: Green hydrogen: From bust to boom
Michael Ebner at KGAL Investment Management analyses the role green hydrogen plays in decarbonising economies.
P28-29: Liquid infrastructure Florence Taj, an equity portfolio manager at MFS Investment Management, outlines the case for investing in listed infrastructure.
P30-31: Feature: How to build back better Infrastructure brings many positives to portfolios, if investors can find the right project. Andrew Holt reports.
December – January 2023 portfolio institutional roundtable: Infrastructure
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