One of the best times to buy infrastructure stocks in the last 30 years is happening right now

LiveWire

18 Feb

Note: This interview was taped on Tuesday 4 February 2025. Infrastructure assets are often thought of as bond proxies. The prevailing wisdom is that these assets (and the stocks of the companies that ...

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2512739849"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2512739849\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2512739849?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-18 04:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2512739849","market":"us","top_or_hot":-1,"title":"One of the best times to buy infrastructure stocks in the last 30 years is happening right now","media":"LiveWire","content":"<div>\n<p>Note: This interview was taped on Tuesday 4 February 2025.\nInfrastructure assets are often thought of as bond proxies. The prevailing wisdom is that these assets (and the stocks of the companies that ...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/one-of-the-best-times-to-buy-infrastructure-stocks-in-the-last-30-years-is-happening-right-now\">Source Link</a>\n\n</div>\n","source":"livewire_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>One of the best times to buy infrastructure stocks in the last 30 years is happening right now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOne of the best times to buy infrastructure stocks in the last 30 years is happening right now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-02-18 04:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.livewiremarkets.com/wires/one-of-the-best-times-to-buy-infrastructure-stocks-in-the-last-30-years-is-happening-right-now><strong>LiveWire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Note: This interview was taped on Tuesday 4 February 2025.\nInfrastructure assets are often thought of as bond proxies. The prevailing wisdom is that these assets (and the stocks of the companies that ...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/one-of-the-best-times-to-buy-infrastructure-stocks-in-the-last-30-years-is-happening-right-now\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TCL.AU","symbol_name":"TRANSURBAN GROUP","start_time":0,"source_url":"https://www.livewiremarkets.com/wires/one-of-the-best-times-to-buy-infrastructure-stocks-in-the-last-30-years-is-happening-right-now","article_id":"2512739849","we_media_id":null,"thumbnails":[],"rights":{"source":"livewire_stock","url":"https://www.livewiremarkets.com/wires/one-of-the-best-times-to-buy-infrastructure-stocks-in-the-last-30-years-is-happening-right-now","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2512739849","pubTimestamp":1739822411,"columns":[],"sourceInfo":{"source_id":"livewire_stock","name":"Livewire Markets"},"weMediaInfo":null,"summary":"Note: This interview was taped on Tuesday 4 February 2025.Infrastructure assets are often thought of as bond proxies. The prevailing wisdom is that these assets  are yield plays. So if interest rates rise and bond prices fall, so too must the valuations of infrastructure assets correct appropriately. But Lazard Asset Management's Warryn Robertsonargues it's not as simple as that:. \"There are assets that operate like nominal bonds, for instance, a lot of the US utilities which have a fixed coupon. As interest rates rise and fall, they live off that. But most infrastructure is like an inflation-linked bond outside the United States. A lot of European and Australian names that we favour have that inflation-linked component to their revenues,\" Robertson explains.\"Infrastructure works irrespective of the macro backdrop because of the inherent nature of the assets that they are,\" he emphasises.Robertson's criteria for what turns an ordinary infrastructure stock into a great one seems simple ","collect":0,"end_time":0,"defaultTopTitle":"livewiremarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TCL.AU":"TRANSURBAN GROUP","ALX.AU":"ATLAS ARTERIA","FER":"Ferrovial SE","FDN":"First Trust Dow Jones Internet I","BK7090":"公路与铁路","BK4550":"红杉资本持仓","BK4129":"建筑与工程","BK4585":"ETF&股票定投概念","BK4588":"碎股"},"translate_title":"现在是过去30年来购买基础设施股票的最佳时机之一","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALX.AU":1,"FDN":0.62,"FER":1,"TCL.AU":1},"content_text":"Note: This interview was taped on Tuesday 4 February 2025.\nInfrastructure assets are often thought of as bond proxies. The prevailing wisdom is that these assets (and the stocks of the companies that own them) are yield plays. So if interest rates rise and bond prices fall, so too must the valuations of infrastructure assets correct appropriately. But Lazard Asset Management's Warryn Robertson argues it's not as simple as that:\n\"There are assets that operate like nominal bonds, for instance, a lot of the US utilities which have a fixed coupon. As interest rates rise and fall, they live off that. But most infrastructure is like an inflation-linked bond outside the United States. A lot of European and Australian names that we favour have that inflation-linked component to their revenues,\" Robertson explains. \n\"Infrastructure works irrespective of the macro backdrop because of the inherent nature of the assets that they are,\" he emphasises.\nRobertson's criteria for what turns an ordinary infrastructure stock into a great one seems simple on the surface but is far more difficult for a company to achieve than at first glance:\n\"In the 20 years we've been running the listed infrastructure strategy, we've only ever considered 200 stocks for investment,\" he says.\n\"The ones you want to allocate to are the ones that have certain characteristics that are attractive. It's that revenue certainty, the ability to translate revenues into profits, distributions and dividends, and the ability to do this in an active way,\" he adds.\nBetter than that, bar 2000 and 2008, when the world was heavily focused on dot-com stocks and the impending global financial crisis respectively, this is turning out to be one of the best periods to buy infrastructure stocks in his 30 years as a professional investor.\n\n\n\n\n\n\n\n\n\nWarryn Robertson, Lazard Asset Management speaks to Livewire's Hans Lee\nIn this edition of Views from the Top, Robertson joins us to discuss the lay of the infrastructure landscape, how the return of the new US Government Administration impacting his opportunity set, as well as the stocks he is loving right now. He'll take a deep dive into two sectors that make up nearly 50% of the Lazard Global Listed Infrastructure Fund Active ETF (CBOE:GIFL). Finally, Robertson shares why the rush in inflows into infrastructure assets, caused by private equity firms and sovereign wealth funds, is providing a tailwind for his investing style.\nStick around for his View from the Top, which really speaks to the old axiom that \"goodness attracts goodness.\"\nTimestamps\n\n0:00 - Intro\n0:38 - What is the most important insight infrastructure investors should be thinking about this year?\n1:28 - Why should investors still consider infrastructure investing given a world of higher-for-longer interest rates and bond yields?\n3:20 - How does this current opportunity stack up against other times in Robertson's 30-year career?\n4:32 - How does the return of Donald Trump affect the way you invest?\n7:08 - Does the flood of money into unlisted and listed infrastructure assets affect your opportunity set?\n9:05 - If you had to nominate only one, what is the highest quality infrastructure stock in the world?\nStocks mentioned: Ferrovial (BME: FER) (NASDAQ: FER)\n\n10:31 - What is the highest quality infrastructure stock in Australia?\nStocks mentioned: Transurban (ASX: TCL) and Atlas Arteria (ASX: ALX)\n\n11:38 - Nearly 50% of your investments are in toll roads and diversified utilities. What's the attraction of those two sectors?\nStocks mentioned: National Grid (LON: NG)\n\n14:25 - How do you think about hedging your returns given the huge surge in the US Dollar?\n15:45 - Warryn Robertson's View from the Top\n\nLearn more\nThe Lazard Global Listed Infrastructure Fund Active ETF (CBOE:GIFL) offers access to an attractive asset class with low correlation to global equities and fixed income over the long term and is managed by one of the world's most experienced listed infrastructure teams. Find out more below, or by visiting the Lazard website. \n\n\n\nManaged Fund\nLazard Global Listed Infrastructure Fund Active ETF (CBOE:GIFL)\nAlternative Assets\n\n\nView\n\n\n\n\n\n\n\nNever miss an update\n\n    Enjoy this wire? Hit the ‘like’ button to let us know. \n    Stay up to date with my current content by \n    following me below and you’ll be notified every time I post a wire","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}