Warryn Robertson’s guide to picking the best infrastructure stocks on the ASX and abroad

Warryn Robertson’s guide to picking the best infrastructure stocks on the ASX and abroad

Warryn Robertson, portfolio manager and analyst at Lazard Asset management, understands the nuances of infrastructure assets like few others in the market. His approach is to find monopoly assets with inflation protected revenues, high margins and reasonable leverage then buy them at attractive prices. 

Of the 400 listed infrastructure stocks globally only 160 have passed the four filters and typically Lazard’s Global Listed Infrastructure Fund will own just 25 to 30 of those companies. Given the attractive nature of infrastructure assets it is unsurprising that sovereign wealth funds and private equity firms are also circling these assets. Robertson estimates that of the 160 stocks that meet his criteria 25 have been taken private and delisted. 

The situation in Australia is even more challenging, of the 14 infrastructure and utility stocks on the ASX valued at more than $1 billion just four meet Warren’s criteria as being ‘preferred infrastructure’.

The good news is that Robertson is a firm believer and concentrating your capital into your best ideas. In this episode of the Rules of Investing, Warryn Robertson reviews the recent performance of that asset class through an inflationary environment, explains why US utilities look vulnerable and shares what he believes are the best opportunities in infrastructure. 

Robertson also reveals what he regards as the top infrastructure stock on the ASX and an infrastructure company with an absolutely stunning earnings outlook.

Show More

Backward
Play
Forward
1x speed
  • 0.5
  • 1
  • 1.5
  • 2
Other episodes
Christopher Joye: No margin for error for risk junkies craving rate cuts

Christopher Joye: No margin for error for risk junkies craving rate cuts

The past six months have been golden for investors, with everything from equities to gold and even Bitcoin enjoying stellar runs. And if risk assets are not your bag, then there have been juicy yields on offer across a range of cash and fixed-income ...

65 downloads Rules of Investing Apr 12, 2024
1h 2m
Why Ben Clark is taking profits on growth stocks (and where he's putting that money to work)

Why Ben Clark is taking profits on growth stocks (and where he's putting that money to work)

Quality growth stocks, those with fortress balance sheets, impressive moats, structural tailwinds and top-notch management teams, have had a stellar run recently. Take Goodman Group (ASX: GMG) for example, which has risen 66% over the past year. Or M...

91 downloads Rules of Investing Apr 11, 2024
47m
Trailer: Ben Clark, TMS Capital

Trailer: Ben Clark, TMS Capital

If there is one theme that has taken the world by storm in 2024, it's Artificial Intelligence or AI. 
Until very recently, this week's guest was a bit of a sceptic, but a recent trip to the US has seen him come back a changed man.
In this episode, we...

53 downloads Rules of Investing Apr 11, 2024
1m
The next 10 years in ETF growth could be dominated by this asset class

The next 10 years in ETF growth could be dominated by this asset class

If there is any one investment product that has experienced a true boom over the last 10 years, it is exchange-traded funds (ETFs) and exchange-traded products (ETPs) more broadly. 
The number of listed products has increased by 17.5 times in Austral...

158 downloads Rules of Investing Mar 22, 2024
28m
The policy overhaul Shane Oliver would make to secure Australia's fortunes

The policy overhaul Shane Oliver would make to secure Australia's fortunes

"Living Legend", "One of a kind", and "Diamond in the Rough are not terms usually bandied about when describing economists! But these are just a few of the hundreds of messages of support and appreciation that flooded a recent social media post recog...

118 downloads Rules of Investing Mar 01, 2024
46m
Where Soul Patts is investing for long term growth and dividends

Where Soul Patts is investing for long term growth and dividends

If you’re looking for the future blue chips of the ASX then Washington H Soul Pattinson might be worth a closer look. The company has been around for more than a century, has never missed a dividend payment but, for the most part, has flown under inv...

124 downloads Rules of Investing Feb 16, 2024
41m
How Hyperion unearths rare but exceptional growth companies (plus two that pass their filters)

How Hyperion unearths rare but exceptional growth companies (plus two that pass their filters)

The structural forces that saw growth investing rise to the top after the GFC remain. Covid created a blip, but the world is returning to slow growth, low inflation and lower interest rates. That's the perspective of Jason Orthman, the Deputy Chief I...

149 downloads Rules of Investing Feb 02, 2024
45m
How to invest $1 million in 2024

How to invest $1 million in 2024

Each year, Barron's releases a list of Australia's Top 100 Financial Advisers. Pitcher Partners' Charlie Viola and Lipman and Burgon Partners' Paul Burgon have featured high on this list over the years, and both ranked in the top 10 in 2023.
As part...

201 downloads Rules of Investing Jan 08, 2024
29m
The lead indicator for Dion Hershan’s best trades (and two high quality stocks for the ”slow grind” ahead)

The lead indicator for Dion Hershan’s best trades (and two high quality stocks for the ”slow grind” ahead)

Two years ago, on a trip to Perth, Yarra Capita’s Dion Hershan was pitched the case for lithium stocks by his Uber driver. Hershan says it was a cliche moment and a classic example of a ‘ringing the bell’ sign. On the flip side, there are moments whe...

199 downloads Rules of Investing Dec 20, 2023
41m
Suggested Stories

Who would have guessed laws required companies to request...

DisinterestedSep 25, 2022
0 mins read

The question of whether abortion should be legal has been...

DanielJun 26, 2022
4 mins read

Four-time major winner Brooks Koepka has also left the PG...

sportislife15Jun 26, 2022
0 mins read

The subsidisation of unreliable “renewable” power is why ...

DisinterestedJun 19, 2022
0 mins read

LIV Golf is off to a good start, whatever the PGA Tour an...

sportislife15Jun 11, 2022
4 mins read

All governments eventually lose power, but the Liberal Pa...

DanielMay 29, 2022
4 mins read