Van Eyk Blueprint Series funds has reviewed its allocations to listed infrastructure and has redirected funds from Macquarie towards a US-based manager.
Jacqui Lemon, product manager for van Eyk Blueprint Series, said van Eyk had moved from the Macquarie Infrastructure Fund to New York-based Cohen & Steers global listed infrastructure fund.
Van Eyk’s infrastructure allocation is currently $67 million, of which 10 per cent will be directed to Cohen & Steers.
“We reviewed our allocations, and decided on Cohen & Steers due to our conviction in the competitive nature of C&S’s bottom-up research,” Lemon said.
Another reason for the change, Lemon said, was the “potential for exposure in emerging infrastructure markets” which was “very attractive on a risk-adjusted basis”.
Cohen & Steers CEO, Robert Steers, said that listed infrastructure had the advantages of liquidity, transparent daily pricing, and diversification. Globally, Cohen & Steers had A$27.8 billion in assets under management in December 2009.