Completion Portfolio

A liquid core infrastructure portfolio providing strong and stable returns with an extraordinary level of customisation

Whitehelm’s Completion Portfolio is a bespoke portfolio of highly liquid, listed infrastructure stocks specifically selected to complement our clients’ unlisted infrastructure portfolios.  The Completion Portfolio combines Whitehelm’s listed infrastructure expertise – notably through the Listed Core Infrastructure Fund – with our expertise in constructing optimised unlisted infrastructure portfolios.

The highly customisable nature of the Completion Portfolio allows it to be tailored to complement our clients’ illiquid portfolios, thereby aligning their infrastructure portfolio to their desired risk and return objectives, exposures, and investment characteristics (e.g. yield, beta, volatility, and ESG).

This is achieved by applying Whitehelm’s holistic investment framework that allows us to compare and contrast investment characteristics across both unlisted and listed infrastructure.  This process ensures that the Completion Portfolio consists of high quality, core infrastructure stocks that complement our clients’ unlisted portfolios and investment objectives.

The Completion Portfolio provides two key benefits for investors.

First, the liquid nature of the portfolio provides a mechanism for managing to a strategic asset allocation – helping smooth out the inherently bumpy nature of unlisted investing.

Second, the flexibility of Completion Portfolio allows investors to adjust the investment characteristics of their portfolio in real time.  This could include reducing exposure to a particular sector or increasing exposure to inflation linked assets.

The Completion Portfolio is further complemented by Whitehelm’s proprietary Relative Value Framework.  The Relative Value Framework is designed to allow us to compare the advantages and disadvantages of unlisted opportunities against the listed portfolio to determine which provides better value at any point in time.