Skip navigation or skip to main content.
Search Website

Infrastructure Income

The Infrastructure Income strategy seeks to maximize total returns from equity income and capital appreciation by investing in companies around the world that are engaged in infrastructure and infrastructure-related operations.

The investment team’s broad view of the infrastructure space—from traditional infrastructure to new world infrastructure—is the core of our infrastructure investment philosophy. We believe now is a critical time for an integrated view of infrastructure, as shifts in the world’s demographic and technological landscapes are widening and deepening the range of infrastructure equity investments.

The Infrastructure Income portfolio provides investors with exposure to two key segments of the infrastructure space: 1) new world holdings that exhibit strong fundamentals, predictable revenue streams, solid cash flows, and are poised to take advantage of the next wave of technological advancements, and 2) traditional holdings that demonstrate higher-quality fundamentals as well as new world themes and stable earnings.

Inception Date
July 1, 2019
Benchmark
N/A*
Number of Holdings
Approximately 50 to 100 stocks

Investment Team

John R. Mowrey, CFA
Executive Managing Director, Chief Investment Officer
Senior Portfolio Manager/Analyst
J. Garth Reilly
Managing Director, Senior Portfolio Manager/Analyst
Jeff N. Reed, CFA
Managing Director, Senior Portfolio Manager/Analyst
Thomas W. Oliver, CFA, CPA
Managing Director, Senior Portfolio Manager/Analyst

*The Infrastructure Income strategy has no formal external benchmark. For a reference index, we have selected a broad global infrastructure index—the S&P Global Infrastructure Index. The team also looks at the MSCI All Country World Index (ACWI), which is increasingly becoming a more appropriate reference index as the infrastructure investment universe continues to expand outside of the traditional infrastructure space. Importantly, the team uses both indices for reference purposes only because neither index provides a fully adequate fit for this unique and diversified strategy.

The S&P Global Infrastructure Index comprises 75 of the largest publicly listed infrastructure companies that meet specific invest-ability requirements. The index is designed to provide liquid exposure to the leading publicly listed companies in the global infrastructure industry, from both developed markets and emerging markets. 

The MSCI All Country World Index (net) is a free float-adjusted market capitalization-weighted index that measures equity performance of developed and emerging markets. The index is calculated on a total return basis with net dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct investment.