The global listed infrastructure asset class offered some stability as rising interest rates and other market uncertainties caused turbulence in the beginning of 2022.
In his latest Global Listed Infrastructure Outlook, Peter Meany, head of global listed infrastructure at First Sentier Investors, said the best-performing infrastructure sector was energy midstream, while airports also gained due to the expected ease of travel restrictions.
“We remain conscious of the structural headwinds companies in the energy midstream sector could face as net-zero initiatives gather pace,” said Meany.
Longer-duration infrastructure stocks such as towers and data centers performed the worst against the backdrop of rising interest rates. The water/waste sector also lagged, led lower by bond yield-sensitive U.S. water utilities.
Geographically, Canada performed the best, reflecting strong gains for its energy midstream stocks. The worst-performing infrastructu
