VicSuper has awarded a $100 million mandate to Colonial First State Global Asset Management (CFSGAM) to look after its newly listed infrastructure portfolio.
The mandate will be investing in a wide range of global listed infrastructure assets including toll roads, airports, ports, railroads, utilities, pipelines, energy storage, mobile towers and satellites.
This includes companies like Transurban toll roads, Zurich airport, Asciano rail/port, Vopak oil storage, Crown Castle mobile towers and Eutelsat satellites.
CFSGAM said these sectors had certain features in common, especially barriers to entry and pricing power, which could give investors inflation-protected income and strong capital growth over the medium-term.
The fund, known as the Colonial First State Wholesale Global Listed Infrastructure Securities Fund, manages over $4 billion in listed infrastructure on behalf of institutional and wholesale clients.
CFSGAM head of global listed infrastructure Peter Meany said market volatility in recent years has presented his team with a unique opportunity to highlight the defensive nature of the asset class.
