A monthly review and outlook of the Global Listed Infrastructure sector.
Market review - as at January 2018
Global Listed Infrastructure finished the month lower, as healthy economic data drew investors towards higher risk asset classes.
Two of the better performing infrastructure sectors were Ports and Airports, whose robust volumes reflected the strengthening global economy. Towers gained on the expectation that telecom companies would invest additional capital expenditure into their mobile networks during 2018.
The worst performing sectors included Water Utilities and Multi-Utilities, which lagged as US 10-year Treasury yields approached their highest levels since 2014. Satellites underperformed after broadcaster Sky introduced a set-top box with no need for a satellite dish.
The best performing regions were Asia ex-Japan and Europe ex-UK, which rallied on buoyant economic data points and upbeat consumer and business sentiment. The worst performing region was the UK owing to an increasingly dysfunctional political backdrop and its high proportion of utility stocks.
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