Populism and perish

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Populism is spreading rapidly and globally, and becoming more aggressive in its implementation and execution. It traverses national borders and can infiltrate all political affiliations. It represents a huge challenge for modern liberal democracies, as the risk of populism is severe political and economic disruption and stagnation. Much has been written on populism over the […]

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ASIC warns trustees about Protecting Your Super laws and provides guidance for consumers

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ASIC has called on superannuation trustees to provide helpful and balanced communications to their members regarding the Protecting Your Super package (PYSP) of reforms, which are due to take effect on 1 July 2019. The PYSP reforms are designed to protect the superannuation savings of Australians from erosion due to inappropriate fees and insurance premiums […]

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CPD: Global listed infrastructure – a growth engine for the next decade

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Infrastructure as an asset class is increasingly on the radar of investors and their advisers. Sarah Shaw, Chief Investment Officer and Global Portfolio Manager from 4D Infrastructure, a Bennelong boutique, examines the unique attributes that make infrastructure an asset class for all stages of the investment cycle; and why 4D remains optimistic about the prospects for […]

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CPD: Mobile adoption curve and 5G – a unique opportunity in global listed infrastructure investment

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Communications infrastructure, a sub-segment of the infrastructure asset class, is enjoying rapid growth driven by a huge expansion in data demand. For global listed infrastructure in particular, there is a unique opportunity to provide investor access to mobile wireless infrastructure companies across both developed and emerging markets. Their appeal comes from the strong infrastructure characteristics […]

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Global infrastructure an overlooked opportunity for investors

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While big institutional investors such as superannuation funds have long recognised the benefits of infrastructure as an investment option, retail investors often don’t believe they can readily access infrastructure projects without millions of dollars to invest – but this isn’t the case, says Sarah Shaw, CIO at 4D Infrastructure. “It is possible to invest in […]

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CPD: Emerging markets and infrastructure – a natural partnership

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Emerging market (EM) economies are expected to grow rapidly over the next 30 years, attracting huge infrastructure investment. EMs and infrastructure are natural, complementary investment partners. Rapidly growing EM economies need infrastructure investment to both facilitate and sustain growth. Equally, these assets perform at their best in expanding economies, where robust domestic demand growth drives […]

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CPD: Is infrastructure a bond proxy?

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Inflation looks to be very slowly emerging from a long slumber and interest rates are heading north. This has significant implications for the world’s economy and global equity markets. For global listed infrastructure in particular, the prevailing ‘wisdom’ is that infrastructure as an asset class is no more than a ‘bond proxy’. The rationale is […]

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CPD: The insatiable need for global infrastructure investment

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Introduction Infrastructure investment across the globe is set to grow strongly over coming decades. We believe that growth will, by necessity, be increasingly funded by the private sector including via the global listed equity market. In this paper, we: identify the key drivers for the world’s seemingly insatiable need for new and expanded infrastructure; how […]

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Insights – Hong Kong, Japan and USA

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The following is an overview of insights from a trip in September/October 2017 when Sarah Shaw, 4D Infrastructure’s Global Portfolio Manager and Chief Investment Officer, and Christopher James, 4D’s Investment Analyst, completed an extensive company engagement and calling program beginning in Hong Kong and continuing to Japan and the United States. Global politics As ever, […]

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The Asian century

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In December 2006, at the London School of Economics Asia Forum, former Indian PM Manmohan Singh said[1]: “The most important development, I believe, of the 21st century will be the rise of Asia. China has already trebled its share of world GDP over the past two decades and India has doubled it. Both these giant […]

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