The Lazard Listed Infrastructure ETF (GLIX) seeks to provide exposure to publicly traded infrastructure companies globally. This utilities-focused ETF targets companies that own or operate essential infrastructure assets including power generation, transmission lines, water utilities, transportation networks, and telecommunications infrastructure across developed and emerging markets.
How It Works
GLIX employs an actively managed approach, with Lazard's portfolio managers selecting infrastructure companies based on fundamental analysis of asset quality, regulatory environment, and cash flow stability. The fund focuses on listed infrastructure securities rather than direct infrastructure investments, providing daily liquidity while maintaining exposure to long-duration, inflation-hedged assets. Holdings typically include utilities, pipeline companies, toll roads, airports, and telecommunications towers with emphasis on companies generating predictable, regulated cash flows.
Key Features
- Active management by Lazard's experienced infrastructure team with deep sector expertise and global research capabilities
- Focus on listed infrastructure provides daily liquidity unlike private infrastructure funds requiring multi-year commitments
- Recently launched ETF offering potential for lower fees than traditional infrastructure mutual funds
Risks
- This ETF can lose value if interest rates rise significantly, as infrastructure companies' high dividend yields become less attractive relative to bonds
- Regulatory changes in utility and infrastructure sectors could reduce cash flows and profitability of underlying holdings
- Currency fluctuations from international holdings could impact returns for U.S. dollar-based investors during periods of dollar strength
Who Should Own This
Best suited as a satellite holding (5-15% of portfolio) for income-focused investors with 3+ year time horizons seeking inflation protection and diversification from traditional stocks and bonds. Medium risk tolerance required due to interest rate sensitivity. Appeals to investors wanting infrastructure exposure with daily liquidity and professional active management.