Listed equity infrastructure has a number of distinctive properties from the rest of listed equities, which justifies its consideration from investors. However, a combination of listed infrastructure equities and listed fixed income infrastructure provides investors with a wider choice of vehicles and investment strategies.

In this paper, we demonstrate that combining listed equity and fixed income infrastructure in a single portfolio improves its risk and return profile compared to a pure infrastructure fixed income or equity portfolio. We also explain how combining listed fixed income and equity infrastructure into a single portfolio can also be viewed as a transparent way to access liquid exposures to the whole underlying infrastructure asset class, as opposed to a single exposure to either equity or fixed income infrastructure. We also discuss different options for combining fixed income and equity listed infrastructure assets and their historical performance.