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COMMENT
Definition of infrastructure. Pipelines, electric utilities, construction companies. Digital infrastructure such as data centres, cell towers, payment processors. Industrials like toll roads, airports, and railroads.
Unknown
COMMENT
Opportunities in infrastructure? It's been a hot sector for a while. We've seen valuations come up this year, especially in renewables. Pensions still have an appetite for infrastructure, which bodes well for the outlook. Still an insatiable demand for assets with contracted cashflows, low volatility, and ESG friendly characteristics. This is where infrastructure shines. Some of the weakness seen this year should reverse next year.
Unknown
COMMENT
Opportunities in green power? Definitely. A number of names have come off. Big drawdowns in names with high valuations such as fuel cells and hydrogen, where a lot of growth was priced in. He focuses on independent power producers, with more reasonable valuations, strong base of operating assets, and a low-risk contracted growth profile. These offer more compelling value than the high flyer energy plays.
Unknown
COMMENT
Big infrastructure spend in US and Canada. EU also just came out with their plan. Timing is difficult to say, but we will see a tremendous amount of investment into infrastructure over the next decade. Transportation, renewable energy, energy mid-streams will continue to see investment to satisfy the need for goods globally, as well as population growth and density into urban areas. Lots of growth ahead. It's a matter of playing the right names at the right time.
Unknown
BUY
Good run since inception. Broad exposure. Focus is on free cashflow generation, high barriers to entry, and regulated assets. Tax efficient monthly distributions. Yield is about 4.9%.
E.T.F.'s
COMMENT
Infrastructure ETF for an RRSP? His SCGI ETF has had a good run since inception. Broad exposure. Focus is on free cashflow generation, high barriers to entry, and regulated assets. Tax efficient monthly distributions. Yield is about 4.9%.
Unknown
BUY
Tremendous value at current price. Assets performing exceptionally well. They have a number of strategic assets around the county, so he could see some outside interest, but they don't need the cash, as they have enough growth ahead. Recent spinout should provide free cashflow and equity lift. See his Top Picks.
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