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Infrastructure Indices: Comparative Analysis of Performance, Risk and Representation of Global Listed Proxies

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  • Lambrev Dimitar

    (PhD Student, International Joint Cross-Border PhD Program, University of Applied Science Burgenland, Austria)

Abstract

Faced with historically low interest rates, investors are looking further into illiquid assets such as infrastructure in search of alternative sources of income, better diversification and a long-term investment perspective. This paper analyzes the key performance and risk characteristics of the EDHECinfra global unlisted infrastructure equity index when compared to the main global listed infrastructure indices during the 2001-2018 period. The descriptive statistics method is applied to determine the representation of the benchmarks commonly used by investors considering infrastructure investments. For the purpose of the market beta analysis, the MSCI World index is also used as a global equities proxy in a linear regression model.

Suggested Citation

  • Lambrev Dimitar, 2019. "Infrastructure Indices: Comparative Analysis of Performance, Risk and Representation of Global Listed Proxies," Naše gospodarstvo/Our economy, Sciendo, vol. 65(3), pages 23-39, September.
    • Handle: RePEc:vrs:ngooec:v:65:y:2019:i:3:p:23-39:n:2
    DOI: 10.2478/ngoe-2019-0011
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    References listed on IDEAS

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    1. Inderst, Georg, 2010. "Infrastructure as an asset class," EIB Papers 3/2010, European Investment Bank, Economics Department.
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    More about this item

    Keywords

    infrastructure; index; benchmarking; listed equity; performance analysis;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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