Goldman Sachs pools infrastructure stocks
The local arm of US-based investment bank Goldman SachsJBWere, (GSJBW) has launched a new managed fund that will mostly invest in infrastructure stocks listed on the Australian Stock Exchange.
The wholesale fund will have the capability to invest in global non-listed infrastructure assets.
“Until now, Australian investors could only access the many benefits of infrastructure stocks by either investing directly in the share market, or via a core Australian equities managed fund,” said GSJBW head of Australian equities Tim Hannon.
Hannon said infrastructure assets have a low correlation with other asset classes, providing diversification benefits.
“Infrastructure assets are typically capital intensive and have a high degree of revenue certainty, given that prices are generally linked to CPI [consumer price index] and volumes are relatively insensitive to economic cycles,” he said.
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