We use the EDHECinfra index data to better understand the performance of two peer groups of infrastructure investors: large asset managers and large asset owners. This case study documents how they perform relative to the market, and to each other and why they perform the way they do.
Q3 2020 Index Release – Back in positive territory thanks to a strong cash yield.
Back in positive territory thanks to a strong cash yield. Roads are back in the black but airports struggle on. Contracted infrastructure continues to be a safe bet The unlisted infrastructure asset class is back to positive returns at the aggregate level, but only thanks to the strong cash yield of infrastructure companies. The infra300 index which tracks a representative global sample … Read More
Report: Q3 2020 Covid-19 Revenue Forecasts Update
The Q3 2020 release of the EDHECinfra indices incorporates the views and asset-level revenue forecasts of our team of financial analysts. by Jack Lee and the team 1. Overview: Q3 Update – EDHECinfra updates to cash flow projections due to the impact of the Covid-19 pandemic on infrastructure investments At the beginning of the third quarter of 2020, some countries … Read More
Infrastructure investors should abandon absolute return benchmarks: Lessons from the Covid-19 lockdowns
This paper argues that there is no reason for investors in unlisted infrastructure to continue using absolute return or ‘cash +’ benchmarks. It calls for investors to abandon them and adopt market-relative benchmarks based on fair value and representative data.
Infra unknowns – key questions that need to be answered
As someone who straddles both the academic and finance worlds I’m always interested in research that can help better inform asset managers. My main interest is in infrastructure finance, having been involved in the field in some way or another over the last 15 years. So, I’m always interested in reading new research on infrastructure finance, hoping it might provide … Read More
An asset class is born
New indices, better benchmarks The next generation of EDHECinfra indices is ready. Computed quarterly, they use meticulously curated private data on hundreds of companies in the 25 most active global markets. They utilise cutting-edge fair value asset pricing methods to gauge value in private infrastructure investments. A key element in this project’s success was accurately defining the investment universe. Infrastructure … Read More