A report in yesterday’s Sunday Times newspaper says that a major overseas investor in UK infrastructure with a 20% stake in Anglian Water is considering taking out political risk insurance in the event of the Labour party winning the next election.
According to the report, Australian IFM Investors, which manages the pensions of over 15 million workers globally, is seeking to “guard against renationalisation of key assets.”
“After years of snapping up British infrastructure assets, overseas investors are scrabbling to assess the possible fallout from Corbyn’s economic agenda, which includes nationalising train companies, water and power suppliers,” the Sunday Times says.
The investor-owned fund manager represents more that 310-plus institutional investors, including:
- Pension funds
- Non-pension investment funds
- Government entities, including sovereign wealth funds
- Endowments and foundations
- Universities
- Insurers
IFM acquired its stake in Anglian Water in 2006. Other UK infrastructure investments held by IFM include a strategic stake in Manchester Airports Group and the M6 Toll road.
Describing its approach to investment, which includes a long-term investment time horizon and a focus on responsible investment, the investor-owned fund manager says:
“We take a patient, prudent, long-term approach to investing and we have a genuine commitment to add value to investments in a sustainable, long-term manner.”
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