The new Bilfinger Berger Global Infrastructure investment trust has won a rating from Bestinvest ahead of its launch.
The fund, which starts trading on the London Stock Exchange on December 21, has been given a three star rating by the independent financial adviser because of its access to a ready source of infrastructure projects.
Parent company Bilfinger Berger manages large infrastructure projects across the globe and plans to transfer 19 projects, with a collective valuation oft £212m, into the fund’s portfolio.
These projects typically have between 20 and 30 years left to run, are geographically diverse and are structured as legally-binding private finance initiative or public-private partnership agreements.
Income on the schemes are guaranteed by governments and their revenue increase in line with inflation.
“The team’s close links with the Bilfinger Berger group means it has a ready source of projects which they already know well and on which they pay no acquisition fee,” Bestinvest says.
“By reference to other publicly listed infrastructure projects, values and revenue from them have proved resilient and should have little correlation with equity markets.”
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