Insights

Global equity markets continue to rise on the back of a surging US equity market. The source of the gains remains largely in the large cap technology sector, and specifically to companies that are portrayed at the forefront to the AI boom. The feeling of euphoria is leading some very well-seasoned investors to draw parallels to the late 1990s tech boom (and eventual bust).1

‘Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.’ Warren Buffett

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.

Interesting stock valuations prompted our recent visit to Jakarta. Our meetings provided a good example of our analysis of related party transactions in assessing alignment. We explain the considerations.

Canopy's Co-founders discuss opportunities in quality global small and mid caps.

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.

‘Show me the incentive and I’ll show you the outcome.’ Charlie Munger

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.