Global listed infrastructure companies outperformed both global equities and bonds in 2022 — not surprising, given infrastructure tends to provide essential services, has strong pricing power, and often carries high barriers to entry and predictable cash flows. For these reasons, Peter Meany, head of global listed infrastructure at First Sentier Investors, believes the financial and economic factors contributing to this outperformance may remain in play in 2023. He predicts these factors, combined with the following five additional themes, could support certain pockets within the asset class.
The Russia-Ukraine war and the pivot to LNG
The Russia-Ukraine war reinforced the importance of energy independence and security for many countries. With more than 40 percent of Europe’s gas coming from Russia, the invasion of Ukraine created an energy crisis. Commodity prices rose sharply as a result, and demand for alternative sources of LNG ac
