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Infrastructure: From Niche to Mainstream Asset Class - With Luba Nikulina, CSO of IFM Investors
Luba covers the advantages of infrastructure as an asset class in portfolios, including target sectors, geographies and the significant return potential of sustainable assets amidst the net zero transition.
Today is the first time we welcome back a guest who has changed firms between interviews. We recorded Luba Nikulina, on Thanksgiving day, 2022, and our guest was then Head of Global Research at WTW, an organization advising on over $3tn of assets.
Luba is now the Chief Strategy Officer at IFM Investors, a leading asset manager in infrastructure with a significant presence in other asset management capabilities.
Luba explains the switch, and unpacks the investment thesis behind the increasing inclusion of infrastructure in institutional portfolios.
She reflects on its position within the growing private assets sleeve of allocators, and why Australia and Canada have adopted significantly larger allocations of 10-20%, but why many other major countries are now building theirs.
She assesses infrastructure’s risks, rewards and liquidity characteristics. She explains the barriers to competition, the projects involved, including bridges, toll roads, data centres and new energy assets. In short she would say it’s the “buoyant, brilliant ballast in the investment boat”.
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