However, they said that infrastructure is likely to outperform other sectors amid the heightened market volatility, with energy-related assets in particular expected to remain resilient to US protectionist policies.“We expect infrastructure could perform relatively well in a stagflationary environment we may now be in,” KIC quoted Ben Way, head of Macquarie Asset Management, as saying.“Infrastructure is generally considered a defensive asset class, can act as an inflation hedge and may generates high yields.” Leigh Harrison, global head of Macquarie’s infrastructure and real assets, forecast that the US tariffs could rise to as high as 20% this year, based on the weighted average applied tariff rate.
The Korea Investment Corporation (KIC) on Tuesday discussed infrastructure investment opportunities and risks in the wake of the US government’s tariff hikes at its regular strategy discussion meeting with domestic pension and savings funds.
Edward Northam, head of Macquarie’s renewables investments, noted that renewable energy infrastructure and assets linked to the US energy transition are attractive, citing rising electricity demand and the growing price competitiveness of renewable energy.
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