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Greatest Hits

It has been ten years since we published our first newsletter. During the last decade, we have written 120 articles and aimed to cover a diverse range of issues affecting fixed income and infrastructure investors. We thoroughly enjoyed this journey, and to celebrate this milestone we thought it would be nice to look back and find out what were the local fan favourites?


Word cloud of Newsletter articles


Chin-Lee

“Technological Disruption and Infrastructure”


We wrote this article in 2015 and we attempted to predict how technological disruption would impact core infrastructure projects over the coming decade. Our predictions about driverless cars, battery storage and telecommuting to work have turned out to be true. At Infradebt we are optimistic on human ingenuity and technological advancement and we always try to be forward looking.



Sueyoon

“Are Data Centres Infrastructure?”


This article describes the unique features of data centres as an asset class and whether it neatly fits into the ‘Infrastructure’ bucket. It is interesting to see how the infrastructure asset class will evolve over time and unique investing opportunities it will bring!



Danyal

“Is it time to rethink the asset allocation of conservative member investment choices”


This article challenges the dynamics of asset allocations employed to construct investment

choices for super fund members. As the majority of super fund members transition from

accumulation phase to preservation/retirement phase, it is fascinating to see how portfolio

construction plays an important role in delivering retirement outcomes.



Alexander

“When power becomes a worthless by-product – peculiar incentives from the Renewable Energy Target”


In 2016, we saw the odd outcomes of renewable energy policy, in the form of LGCs, driving

negative bidding by generators and, hence, negative electricity prices. We introduced our

readers to the negative electricity price phenomenon which seemed like a bug in 2016 but we boldly predicted that it will be a feature of electricity system of the future (today).



Matthew

“Renewables – perspectives from different parts of the capital structure”


This article comprehensively articulates renewables projects from a financial and operational

perspective. It highlights the importance of understanding, at a granular level, the fundamental financial mechanics of infrastructure investing, and in my opinion alludes to how infrastructure debt has a key place in the portfolio of investors.



Alex

“Would you like some impact with that?”


Impact investing in 2017 was primarily dominated by equity investments. Investors were limited by choice and we talked about potential opportunities in the fixed income space. What makes us proud is the journey of transforming those ideas into comprehensive products for our clients to take advantage of impact opportunities.



Irene

“Easter Egg hunt”


A simple light-hearted little piece that reminds us of a dynamic of investing that we seem to

forget – if you look for easter eggs where everyone else is looking your chances of success will be competed away. The best return opportunity lies where no one else is looking! 😊



Teresa

“Monopoly Behaviour”


This is an article outlining how some network companies are using bank guarantee backed “grid annuities” to lock in risk free returns (the beauty of negotiating from a monopoly position). As we push to build new transmission and roll out more renewables, grid operators have a key role to play. However, excess returns for one component of the supply chain is going to just push up costs for all electricity consumers.


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