24 October 2025

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Home / Author: Gerald Stack

Gerald Stack

Infrastructure assets are well placed for inflation era

In theory, unlisted infrastructure should be priced at discounts to listed assets due to their illiquidity. In fact, the opposite has been the case, but both types are positioned to withstand the inflation threat.

Gerald Stack, Ofer Karliner
9 February 2022
2

Why infrastructure stocks can withstand higher interest rates

There's a common misconception that as a 'bond proxy', infrastructure asset prices will fall as bond prices do when rates rise. But these hard assets have sufficient inflation protection to drive a more robust outcome.

Gerald Stack
20 April 2017

The resilience of airports

Looking back over the major economic downturns the world's markets have experienced, airports have shown their ability to bounce back from short-term passenger shocks.

Gerald Stack
7 April 2016
3

Infrastructure risk factors in the current macro environment

Infrastructure assets range widely from toll roads, ports, airports, power distribution, communications, etc, but there are common risk factors to consider in all of them.

Gerald Stack
4 February 2016

Listed versus unlisted infrastructure

When deciding between listed and unlisted infrastructure securities, the focus should be on the cashflows, the risks associated with those cashflows and the entry price to buy the assets.

Gerald Stack
19 September 2014

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Latest Updates

A speech from the Prime Minister on fixing housing

“Fellow Australians, I want to address our most pressing national issue: housing. For too long, governments have tiptoed around problems from escalating prices, but for the sake of our younger generations, that stops today.”

James Gruber
22 October 2025
34

Taxation

Family trusts: Are they still worth it?

Family trusts remain a core structure for wealth management, but rising ATO scrutiny and complex compliance raise questions about their ongoing value. Are the benefits still worth the administrative burden?

Peter Bardos
22 October 2025
5

Exchange traded products

Multiple ways to win

Both active and passive investing can work, but active investment doesn’t in the way it is practised by many fund managers and passive investing doesn’t work in the way most end investors practise it. Here’s a better way.

Economy

The Future Fund may become a 'bad bank' for problem home loans

The Future Fund says it will not be paying defined benefit pensions until at least 2033 - raising as many questions as answers. This points to an increasingly uncertain future for Australia's sovereign wealth fund.

John Abernethy
22 October 2025
3

Investment strategies

Managed accounts and the future of portfolio construction

With $233 billion under management, managed accounts are evolving into diversified, transparent, and liquid investment frameworks. The rise of ETFs and private markets marks a shift in portfolio design and discipline.

Arian Neiron
22 October 2025
1

Property

Commercial property prospects are looking up

Commercial property is seeing the same supply issues as the residential market. Given the chronic undersupply and a recent pickup in demand, it bodes well for an upturn in commercial real estate prices.

James Gruber, Steve Bennett
22 October 2025

Infrastructure

Private toll roads need a shake-up

Privatised toll roads in Australia help governments avoid upfront costs but often push financial risks onto taxpayers while creating monopolies and unfair toll burdens for commuters and businesses.

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