A monthly review and outlook of the Global Listed Infrastructure sector.

Market review - as at February 2017

Positive earnings results, stabilising bond yields and robust US economic data supported global listed infrastructure in February.

The best performing infrastructure sector was Satellites. Earnings results from French operator Eutelsat (not owned) showed that cost-cutting measures had expanded margins, which eased concerns about the sustainability of the company’s dividend. Towers rose as investors identified value in the sector. Confident management commentary anticipating higher activity levels in 2017 added a further tailwind.

The only sector to finish the month lower was Pipelines, which paused after strong gains over the past 12 months.

The best performing region was Latin America, as improving investor sentiment towards Emerging Markets continued to drive demand for the region’s toll roads, ports and airports. Lacklustre economic data weighed on infrastructure stocks in Japan.


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