First State Investments is introducing a listed global infrastructure fund investing in transport, gas storage and oil.
Managed by global head of infrastructure securities Peter Meany and Andrew Greenup, the trust will aim to beat the S&P Global Infrastructure index over a three-year rolling period.
The portfolio, set for launch this month, follows on from First State’s open-ended European diversified infrastructure fund.
Meany says the portfolio will typically hold around 40 stocks. Its biggest geographical weighting at launch will be 20 per cent in the US, followed by 15 per cent in Spain.
Chief executive Charlie Metcalfe says: “We believe our wealth of industry knowledge, experience and resources in the infrastructure arena will enable us to exploit the investment opportunities as the market further develops and matures. It is our intention to continue to develop specialist products to meet investor demand.”
Hargreaves Lansdown head of research Mark Dampier says: “There is a huge demand for infrastructure across the globe and it could be a valid alternative to commercial property as a diversifier.”