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6 February 2025
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Trillions need to be spent upgrading grids, transmission distribution and charging infrastructure. Electric utilities are a low-risk way to play this multi-decade growth theme to energy transition.
In theory, unlisted infrastructure should be priced at discounts to listed assets due to their illiquidity. In fact, the opposite has been the case, but both types are positioned to withstand the inflation threat.
There's a common misconception that as a 'bond proxy', infrastructure asset prices will fall as bond prices do when rates rise. But these hard assets have sufficient inflation protection to drive a more robust outcome.
When deciding between listed and unlisted infrastructure securities, the focus should be on the cashflows, the risks associated with those cashflows and the entry price to buy the assets.
The housing market was subdued in 2024, and pessimism abounds as we start the new year. 2025 is likely to be a tale of two halves, with interest rate cuts fuelling a resurgence in buyer demand in the second half of the year.
This examines the performance of key asset classes and sub-sectors in 2024 and over longer timeframes, and the lessons that can be drawn for constructing an investment portfolio for the next decade.
While encouraging people to draw down on their accumulated wealth in retirement might be good public policy, several million retirees disagree because they are purposefully conserving that capital. It’s time for a different approach.
The renowned investor has penned his first investor letter for 2025 and it’s a ripper. He runs through what bubbles are, which ones he’s experienced, and whether today’s markets qualify as the third major bubble of this century.
Getting regular, growing income from stocks is tougher with the dividend yield on the ASX nearing 25-year lows. Here are some conventional and not-so-conventional ideas for investors wanting to build a dividend portfolio.
2024 was a banner year for equities, with a run-up in US tech stocks broadening into a global market rally, and the big question now is whether the good times can continue? History suggests optimism is warranted.