First State Investments' Peter Meany, head of global listed infrastructure, explains how he is positioning his portfolio to capture the best opportunities in a varied space.
How would you characterise recent activity within the portfolio? Which stocks have you been buying or selling? Volatility in listed markets continues to create mispricing opportunities for active managers. Recent additions to the portfolio include Groupe Eurotunnel and Norfolk Southern. Eurotunnel is a unique asset linking London to Paris and beyond. The company has a long concession, pricing which can recover inflation and an expanding number of services. Norfolk Southern operates a duopoly freight rail network in the eastern US. The company has a strong franchise, core pricing...
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