117. Investing in airports, mobile towers and renewables

International air traffic has declined more than 90% during the pandemic. Peter Meany, manager of First Sentier Global Listed Infrastructure, talks to us about when airports may recover. He tells us why toll road recovery is exciting, how areas like mobile towers and data centres have performed strongly, and why we will still need gas to help us transition to cleaner energy. He also tells us how the fund’s income has fallen just 10% compared with falls of 40%-50% in other areas.
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First Sentier Global Listed Infrastructure fund invests in ‘hard’ infrastructure such as bridges and ports around the world, via listed companies that own the assets. First Sentier Investors has been one of the pioneers in providing access to this asset class, which quickly captured the attention of income-focused investors in a low yield environment.

Read more about First Sentier Global Listed Infrastructure

What’s covered in this podcast:

  • The extent to which airports have been impacted by the pandemic [1:00]
  • Why international travellers are so important for company earnings [2:04]
  • How other transport has been affected by COVID and why toll roads are exciting [3:00]
  • The areas of infrastructure that have benefitted from the pandemic [4:09]
  • Why utilities companies have lagged behind the stock market bounce [5:15]
  • Why renewables are a bright spot and how the world ‘building back netter’ could boost this area [5:43]
  • The outlook for oil and gas [8:49]
  • How the income produced by the portfolio has held up well [11:15]
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