377. Yield, stability and growth: rethinking infrastructure

After a difficult period for infrastructure assets, 2025 has marked a more supportive environment. Will Argent, manager of the TM Gravis UK Infrastructure Income fund, examines what’s driving the recovery, from interest rate cuts and M&A activity to government infrastructure plans and regulatory developments. We discuss the role of renewables, utilities, digital and social infrastructure, and how diversification helps smooth returns across market cycles. He also explores how infrastructure income compares with equities and bonds, the importance of inflation linkage and what investors can realistically expect from the asset class looking ahead to 2026 and beyond.

What’s covered in this episode: 

• Infrastructure performance in 2025
• Interest rates and stubborn gilt yields
• Regulatory risks and renewables
• M&A activity in listed infrastructure
• The UK government’s 10-year infrastructure plan
• Energy, water and grid investment
• Income vs capital growth balance
• Infrastructure vs equities and bonds
• Inflation-linked income streams
• Outlook for the asset class in 2026

More about this fund: TM Gravis UK Infrastructure Income is a unique fund that invests in a combination of UK-listed investment trusts, direct equities and bonds. This fund is an interesting option for income investors looking to diversify their portfolios. The fund’s high income and relatively low volatility make it particularly attractive. 

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Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.