First State Investments has today launched its global listed infrastructure fund to European investors.
The fund, managed by head of global infrastructure securities Peter Meany and portfolio manager Andrew Greenup, has full registration in Austria, France, Germany, Ireland, Sweden and Switzerland.
The fund was previously launched to UK investors in October 2007.
Meany says: “Infrastructure securities should deliver good risk-adjusted returns given the quality of the underlying assets, the need for significant new capital expenditure, increasingly supportive regulatory stances and ongoing privatisations. Global listed infrastructure has materially outperformed broader equity and property markets during the current credit crisis, highlighting the attractive opportunity the sector offers to those looking for a defensive asset class with sustainable growth.”
The fund diversifies its investments by sector and geography, allocating approximately 40 per cent to transport, 40 per cent to utilities and 20 per cent to energy infrastructure.