At the start of 2020, who would have thought that COVID-19 would up-end our daily lives with no respite, and the fallout has tested our asset class to extremes, in cases. Six months in is a good time to reflect on what has happened.
Airports, rail, roads and ports have been heavily affected under enforced lockdowns and movement restrictions, and their recovery will be nuanced. Energy transportation and storage took a double blow from the virus and the oil-price shock. We review the sector in the latest issue of the GLIO Journal and argue that share price falls are unwarranted, a throwback to a bygone era for an industry that has evolved into a more resilient investment.
Conversely, sectors such as regulated utilities and renewables have, on the whole, demonstrated earnings stability. After all, we still need essential utilities to keep businesses and homes running.
Working from home has enhanced the value of remote communi