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AMP Capital has been made aware that persons using the names AMP Capital Limited and AMP Capital Investors Limited Company are purporting to be a part of the AMP Capital or AMP group and are making unsolicited contact with members of the general public in Europe and the UK. AMP Capital Limited and AMP Capital Investors Limited Company are not part of the AMP Capital or AMP groups. Please ensure that you carefully establish the identity of any person or entity purporting to act for AMP Capital or AMP. 

 

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Global Listed Infrastructure Fund

Global listed infrastructure, the opportunity

Global demand for infrastructure is surging - With an estimated US$57 trillion in investment required between 2013 and 2030i and fiscally constrained governments struggling to keep pace with demand, the listed infrastructure sector has grown rapidly. This has created the opportunity for informed investors to benefit from assets with the potential to generate both income and capital gains over the long-term.

 

Strong cash yield with ongoing growth potential - In an environment of slow economic growth and low interest rates, infrastructure assets can be an attractive solution for investors seeking stable returns and attractive yields. Infrastructure businesses typically provide essential services in controlled, monopoly style environments, often with revenues locked in by extended contracts or regulatory frameworks. As a result, they offer predictable, inflation-linked returns with low volatility and a low correlation to traditional asset classes such as equities and fixed income.

 

The liquidity and diversification of a listed investment - By choosing listed infrastructure, rather than a direct investment, you can benefit from:

Liquidity and transparency. Liquidity and constantly updated pricing gives our investment team more flexibility in building and rebalancing a portfolio of quality assets.
Diversification. Exposure to a broad range of assets for the same invested capital, allowing wider diversification across sectors and regions.
Specialist expertise. Access to a dedicated listed infrastructure investment team with significant specialist experience managing portfolios of infrastructure securities. Team members have covered multiple infrastructure sectors and regions through their careers.

1 McKinsey Global Institute, January 2013

AMP Capital, listed infrastructure experts

Specialist expertise from an industry leader AMP Capital has long been recognised as an infrastructure pioneer. With over 28 years of infrastructure experience and dedicated expertise, with more than 120 separate unlisted equity and debt investments since 1988.

 

Our team - AMP Capital has over 70 investment professionals focused exclusively on infrastructure investments, including a team of seven specialists dedicated to managing listed infrastructure portfolios for our clients. Our size, scale and reputation in infrastructure enable us to harness deep insights that help create better investment outcomes.

 

Listed infrastructure expertise - Successful investment in listed infrastructure requires experience in the specifics of infrastructure securities. The experience of our listed infrastructure investment team enables us to identify attractive long-term opportunities and to take advantage of market inefficiencies and temporary dislocations.

AMP Global Listed Infrastructure Fund
Leveraging a proven strategy with a track record dating back to 2010, the AMP Capital Global Listed Infrastructure Fund brings together exceptional infrastructure assets from multiple global markets in a single investment.

  • Track record of outperformance
    Track record of outperformance

    Our global listed infrastructure track record is underpinned by a rigorous, transparent and repeatable investment process designed to create a portfolio of high quality, core infrastructure assets. By focusing on companies with a dominant position and stable cashflows, then actively managing the portfolio to take advantage of changing asset values and market cycles, we have successfully delivered attractive risk-adjusted returns to our clients over the long-term.

  • Track record of outperformance
    Track record of outperformance

    Our listed infrastructure strategies focus on investing primarily in ‘core and pure’ infrastructure assets. These are companies that own and operate infrastructure assets with no or low exposure to commodity, volume and competition risks. We believe these companies typically provide more stable cashflow than other infrastructure assets, and are typically less volatile than the broader listed equity market.

  • Bottom-up valuation process
    Bottom-up valuation process

    We believe that the long-term nature of infrastructure assets and cashflow are best suited to bottom-up, fundamental analysis. Our investment approach is underpinned by rigorous quality analysis and due diligence on all infrastructure assets together with a focus on buying securities that are attractively priced.

Case studies

American Tower Corporation

Sector: Communications
Location: USA


The business

Dominant position: A leading independent owner, operator and developer of wireless and broadcast communications real estate. Quality assets: a portfolio of over 143,000 communications sites, including approximately 40,000 towers in the United States and more than 102,000 towers internationally.

Strong earnings potential: Space on their towers is leased to telcos and broadcasters for periods of 10 years with no exposure to the amount of usage.

Kinder Morgan

Sector: Oil and gas storage and transportation
Location: USA

 

The business
Dominant position: KMI is one of the largest energy infrastructure company in North America. It owns an interest in or operate approximately 84,000 miles of pipelines and approximately 180 terminals. It is a high quality company with secured growth projects and no need to access capital markets.

Strong earnings potential: KMI’s cash flow is some of the highest quality in the midstream sector, with a large percentage derived from take or pay contracts. Combined with backlog high-grading efforts, there is no expected need to access capital markets to fund growth capital for the next two years.

Understanding the risks

Risks specific to the fund include the risks of investing in share markets, infrastructure and international markets; as well as risks associated with derivatives and investment management.

Related information

Insights Papers:

Counterparty risk in E&P bankrupticies
The greatest investment theme of our lives.

i McKinsey Global Institute, January 2013

Important notes

While every care has been taken in the preparation of this information contained in this website, neither AMP Capital Investors Limited (ABN 59 001 777 591)(AFSL 232497) nor any member of the AMP Group make any representation or warranty as to the accuracy or completeness of any statement in it including without limitation, any forecasts. This content has been prepared for the purpose of providing general information only, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of the information on this website, and seek professional advice, having regard to their objectives, financial situation and needs. Content sourced from Cuffelinks and Livewire does not represent the views of AMP Capital or any member of the AMP Group. All information on this website is subject to change without notice. 

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