Over the past decade, the Fund has operated across a wide range of market and political environments. These have included periods of political uncertainty and policy risk, as well as significant macroeconomic shifts. The period also encompasses the global pandemic and volatility in energy markets. The Fund has also benefited from tailwinds such as an extended ultra-low interest rate environment that supported long-duration, yield-producing infrastructure assets. Collectively, these conditions illustrate the breadth of challenges and opportunities the Fund has navigated over the past ten years.

In this FundCalibre podcast, Will Argent examines what’s driving the recovery in the infrastructure sector. From interest rate cuts and M&A activity, to government infrastructure plans and regulatory developments, he discusses the role of renewables, utilities, digital and social infrastructure, and how diversification helps smooth returns across market cycles. Will also explores how infrastructure income compares with equities and bonds and what investors can realistically expect from the asset class looking ahead to 2026 and beyond.