AMP Capital buys first asset in China
The AMP Capital Asian Giants Infrastructure Fund (AGIF) has acquired its first asset in China by taking an effective 19.11 per cent equity stake in the gas distribution company Qujing Gas.
AMP Capital global head of infrastructure Phil Garling said the company expected growth in the infrastructure sector — particularly since there were estimates of a global US$25 trillion gap in government infrastructure spending over 25 years.
“Fuelled by population and economic growth around the world, demand for private sector investment continues to increase,” Garling said.
AMP Capital, which has been investing in Asian infrastructure since 1994, expects its initial investment in Qujing Gas to increase to a total of US$20 million.
Recently, the fund secured its first UK public authority pension fund client and a Japanese pension fund investor, with commitments of approximately US$66 million in total.
AGIF’s final close is expected in the first quarter of 2011.
Recommended for you
There could be changes ahead for how ASIC requires licensees to handle conflicts of interest as the corporate regulator announces it will be meeting key stakeholders next year to update guidance.
Proper recordkeeping has been described as the “mortar between the bricks” of the advice process and critical to an FSCP decision as an adviser is suspended for failures in this area.
As investors increasingly seek to embed ESG considerations in their portfolios, a specialist adviser has offered tips for financial planners who may feel overwhelmed in tackling these complex topics with clients.
Global investment consultancy bfinance is expanding into offering services for wealth managers as they seek advanced investment strategies for their clients.
