The infrastructure sector has been one of many within the wider alternatives space to suffer from wide discounts of late. However, with a more mature and diversified asset base, the damage has been less severe than in other sectors, such as renewable energy, and there have been some early signs of a sustained recovery in recent months. Here, we look at the ratings of the various trusts and the (fairly limited) measures they have taken to address their discounts.
HICL, the first listed infrastructure trust, was launched in March 2006, so the infrastructure sector now has a twenty-year record ...
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International Public Partnerships (ticker: INPP) was launched in 2006, making it one of the oldest infrastructure trusts. Net assets are now £3.0bn, up from £300m at its IPO, and the annualised total NAV return up to June 2023 was 7.7%, ahead of the trust's current IRR target of at least 7% a year. Most of INPP's portfolio is based in the UK with the rest in Australia, New Zealand, North America, and Northern Europe. It has 143 assets with strong inflation linkage spread across various sectors such as energy distribution, transmission, transport, education, health, justice, and digital infrast...
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