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RARE is an investment boutique that invests in global listed infrastructure. RARE was awarded a mandate to manage $20 million of Premium Investors assets in August 2006.

Infrastructure is an asset class within the listed investment environment and includes utilities (gas, water and electricity), transportation (airports, toll roads, ports and logistics), oil and gas pipelines and communications equipment. The common characteristics of these investments are their monopoly positions (legal or economic), and their strong and inelastic cash flows which are often linked to inflation.

Infrastructure currently accounts for around 3% of global market capitalisation and that percentage is expected to grow substantially over coming years as Governments around the world transfer the responsibility of providing community services to the private sector through both the privatisation of government businesses and the issue of licences to the private sector for the construction of monopoly assets.

The successful management of a portfolio of listed infrastructure companies requires a team experienced in the intricacies of infrastructure companies and the evaluation of both the likely cash flows and financing used to support their activities. The RARE team offers an effective mix of industry and securities experience.

Richard Elmslie and Nick Langley are both Investment Directors of RARE and together comprise the investment committee that takes responsibility for investment selection and portfolio management. RARE’s investment team also includes five investment analysts.

The RARE investment team combines extensive experience in infrastructure financing and management with research and portfolio management skills in both the domestic and international markets (over 77 years global infrastructure experience and 46 years funds management experience).