At the same time, he warned that although this asset class was not risk-free and its expected higher returns for social infrastructure above bond yields represented a risk premium, this left managers with plenty of options for mitigation.
Additionally, this asset class offered a promising outlook, given the low-rate environment and the governments taking a more central role in infrastructure funding and provision, sidelining the private sector.
However, according to Savage, in the longer term over the coming years this shift would lead to greater public-private partnerships.
“Furthermore, although the cost of borrowing may not increase dramatically for governments into the near future, they may have a keen eye to their existing debt burdens in the wake of COVID-19 stimulus, and as a result may be less willing to have the full cost of new projects on their balance sheet,” Savage said.
By Editor | May 10, 2021 |
Vincent DePaul Zahnle, age 69, of Plato, Mo., passed away on Tuesday, May 4, 2021, at Cox South Hospital in Springfield, Mo. Known to his family and friends as either Vince or Paul, he was born on January 1, 1952, in Franklin, Ind., to Vincent LeRoy Zahnle and Cozette Evangeline (Zickefoose) Zahnle.
Vince spent part of his childhood in Bloomington, Ind., and part in Tucson, Ariz. After graduating from Bloomington High School in 1970, he earned a bachelor’s degree in sociology at Indiana University, and then enlisted in the United States Army in the early 70s, embarking on a military career that spanned twenty years. As a young private, he served as a tanker in West Germany during the Cold War. He left the military briefly to attend Indiana University Law School, maintaining his military connection by serving in the Army Reserves as a drill sergeant, and graduated in 1982. After law school, he returned to the army, serving as an officer under the Judge