REPORTS

[mathjax] In this note, we provide some details and clarifications about our 2019Q4 index release with a focus on the performance of UK water utilities. Our 16th January release mentions that upward movements in gilt rates in the last months of 2019 led to negative returns for numerous infrastructure companies in that quarter, especially firms with very long-term cash flow...

A new paper drawn from the Natixis/EDHECinfra research chair sheds new light on the drivers of returns in private infrastructure debt. Infrastructure credit spreads remain twice as high today as in 2008, but this new research shows that only 30bps of this increase cannot be explained by changes in systematic risk factor prices....

This paper examines the drivers and evolution of credit spreads in private infrastructure debt. We ask two main questions: Which factors explain private infrastructure credit spreads (and discount rates) and how do they evolve over time? Are infrastructure project finance spreads and infrastructure corporate spreads driven by common factors? ...

New EDHECinfra research finds there is no financial penalty or gain (based on Return on Assets) for infrastructure firms to implement ESG management and reporting.A new paper drawn from the EDHECinfra/LTIIA Research Chair shows that Environmental, Social and Governance (ESG) scores are not negatively or positively correlated with the financial performance of unlisted infrastructure firms....

This blog was initially published in top1000funds.com. No asset is an island… Infrastructure equity prices do not exist in a vacuum. Analysing hundreds of transactions over the last 15 years, we found that they are driven by systematic risk factors, which can be found across asset classes. In other words, markets did process information rationally and average prices did reflect...

New EDHECinfra research documents the factors behind the evolution of unlisted infrastructure prices over past 15 years. Common risk factors found in numerous asset classes explain the evolution of unlisted infrastructure secondary market prices. That’s the finding of a new paper drawn from the EDHECinfra /LTIIA Research Chair. Interestingly, the paper also shows that that, after a long period of...