by David Swensen

Financial Times - Once a few adventurous investors have entered a new sector with carefully constructed vehicles, it’s never long before the rest of the industry moves in with increasingly pointless products designed to rob investors of their savings.

But I’d like to think that infrastructure funds are examples of the former, not the latter. That said, there are now a lot more products in this area.

Some of the newer infrastructure exchange traded funds (ETFs), for example, include shares in utility companies. However, I’m thinking more of the London-listed closed-ended funds with a particular focus on private finance initiative (PFI) and public private partnership (PPP) assets, employing a combination of debt and equity.

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Posted by rjorr at August 8, 2009 10:17 AM