Listed infrastructure manager sells out of Hong Kong

Political risk concerns

Ursula Tonkin, manager of the PATRIZIA Low Carbon Core Infrastructure fund, recently sold out of her Hong Kong listed holdings due to political risk.

The fund, which launched about six years ago, invests in listed infrastructure companies, including utilities and transport assets. In an interview with Investment Week, the Australian fund manager said that about 18 months ago they had exposure to Hong Kong utilities and their mass-transit network. However, they have now withdrawn due to "political risk" and "moves by mainland Chinese government into Hong Kong". Tensions were growing high pre-pandemic in Hong Kong, with protests over a proposed extradition bill and then the imposition of Beijing's national security law, under whic...