Listed infrastructure has matured into a recognised core allocation for sophisticated investors. Once considered a niche alternative, it is now often viewed as an integral part of multi-asset portfolios, providing a unique blend of return, stability, and structural growth. Here we highlight why moderating macro pressures and enduring structural growth drivers reinforce the strategic role of the asset class now.

Infrastructure underpins modern life: powering homes and data centres, facilitating the networks that connect businesses and communities, and providing the transport systems that move people and goods. These are essential services, local in delivery, but global in importance, providing stable earnings and resilient cash flows.

At the same time, powerful secular trends are converging. The energy transition, electrification, and digitalisation are reshaping the global economy, driving demand for new generation capacity, upgraded grids, renewable energy, data centres, fibre, and wireless towers. These transformations are capital-intensive, land-constrained, and infrastructure-dependent.

For investors, these characteristics make listed infrastructure both a defensive anchor, offering stability, inflation protection, and lower volatility relative to broader equities, as well as a source of long-term thematic growth aligned with societal priorities. This dual role reflects Morrison's philosophy of investing in ideas that matter: essential assets that both serve enduring needs and provide sustainable, risk-adjusted returns.