Insights

This 21st edition of 4D's Trip Insights summarises the findings from Peter Aquilina’s recent travels across the United States. The trip provided valuable perspectives on the evolving political and economic landscape and its implications for infrastructure investment.

The AI boom has reshaped the data centre landscape at a pace few anticipated. Since our May 2024 whitepaper on the AI theme and its implications for data centres, the sector has continued to evolve rapidly. In such a fast-moving space, we believe it’s timely to revisit the landscape and assess how key dynamics have evolved.

This is the 20th edition in our series of Trip Insights, following a trip taken by Sarah Shaw, Global Portfolio Manager, to Latin America in August 2025. The trip provided invaluable insights into the evolving regional and global geopolitical and economic concerns and their impact on what we would consider an otherwise very positive fundamental outlook for infrastructure operators.

Bennelong Funds Management has signed a memorandum of understanding (MOU) and partnered with US-based Monroe Capital to further expand its distribution to Australia and New Zealand.

The aging population presents a powerful investment theme, but as the recent legal setback for Lifestyles Investment Communities (ASX: LIC) shows, execution matters. LIC’s plights highlight the risks of complex structures in thematic investing. In contrast, North American senior housing REITs offer a clearer, cashflow-driven model with strong secular tailwinds.

As markets navigate the post-COVID landscape, many assumptions once considered unshakable are being challenged. E-commerce, once seen as unstoppable, may be hitting its limit. Physical retail is making a quiet comeback, while industrial real estate faces headwinds.

Deep-dive company research is central to Quay’s investment process. This month we unpack six key themes – both emerging and ongoing – that stood out from over 30 in-person meetings with prospective and existing investees across Europe, the UK and the US.

This is the 19th edition of our Trip Insights series, where we share our travel experiences and on-the-ground perspectives from our company meetings and regional visits. It follows a recent research trip by Sarah Shaw, Global Portfolio Manager, and Tasneef Rahman, Senior Investment Analyst, through Spain, Italy, Switzerland, Germany, France, England and Scotland.

What’s happening in the bond market? We have some thoughts.