Insights

This is the fifth in our series of Trip Insights. It follows three trips during 2018 when Sarah Shaw, 4D Global Portfolio Manager, completed an extensive company engagement and calling program in Latin America and Europe, meeting with management teams from Oil & Gas Infrastructure, Regulated Utilities, Renewables, Transport (road, rail, air sea) and Communications Infrastructure.

It’s been 10 years since the global financial crisis tore through markets in the months surrounding the collapse of Lehman Brothers in October 2008. While the tussle between the bulls and bears is always ongoing, in the time since it has been the bulls that have, on average, been winning.

Mark Jones, Senior Investment Analyst from 4D Infrastructure, explores the appeal of communications infrastructure, the difference between developed and emerging markets, and the possible upside from the transition to 5G.

Not long after my daughter turned five I took her to see her first movie, “Up”. It’s about an elderly man who, along with an unexpected young friend, tries to re-capture his youthful passion for adventure.

Our view is non-consensus, and we’re okay with that. For the most part, the economic consensus in Australia is that the next interest rate move will be up. The current debate centres on when this move will occur, with the more dovish commentators suggesting we may have to wait until late 2020 to see the cash rate move to 1.75% from its current 1.50% setting.

A picture paints a thousand words, as the saying goes. This month’s Investment Perspectives contains 12 charts that show some of the data and trends we think are really interesting right now.

One of the advantages of a global mandate is the opportunity to identify and invest in some of the most unique and best run real estate companies in the world.

Sarah Shaw, Global Portfolio Manager at 4D Infrastructure, explores the connectivity between EM and infrastructure, addressing why the relationship is so positive. Given this, we believe investors seeking EM equity exposure should consider infrastructure as a portfolio allocation option.

Demographics really matter! The study of populations, how and where people move, is integral to real estate. Very little can stop the effect of demographics on the economy – it is the slow-moving beast that influences demand and thus resource allocation.