Publications

- April 1, 2021: Vol. 14, Number 4

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Global listed infrastructure report: Essential news and notes

by Fraser Hughes

The GLIO Index of infrastructure companies fell 1.4 percent in February, continuing the year on negative ground. On a positive note, all transportation (7 percent) gained in February. Railroads (6 percent), toll roads (6.3 percent), passenger rail (14.1 percent), airports (7.2 percent) and marine ports (4.7 percent). Energy transportation (3.7 percent) also finished ahead.

On the flip side, utilities (–5.4 percent) and communications (–4.1 percent) fell and after a tremendous run in 2020, Renewables continued to cool off in February (–14.3 percent). Global equities ended February up (2.6 percent). The 10-year annualized USD return for the GLIO Index is (9.5 percent), similar to global equities but achieving this with 300 basis points lower volatility. Most importantly, the table below shows that listed infrastructure’s Sharpe ratio betters global equities in all but the five years annualized time period. The best Sharpe ratios for time periods are shown in green.

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