FT Wilshire GLIO Listed Infrastructure Index Series
"Built by the asset class for the asset class"
Data as of June 28, 2024
Headline Asset Class Performance (Annualized in USD)
Index (US$) | Mth | YTD | 12 Mths | 3 Yrs | 5 Yrs | 7.5 Yrs | 10 Yrs | 12.5 Yrs | 15 Yrs | 17.5 Yrs | 20 Yrs | 22.5 Yrs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTW GLIO Dev Infra | -2.8% | 0.8% | 3.1% | 2.0% | 4.7% | 7.9% | 6.4% | 8.6% | 10.1% | 7.7% | 9.7% | 9.8% |
FTW Dev Large Caps | 2.2% | 12.3% | 21.0% | 7.4% | 12.4% | 12.2% | 9.8% | 11.8% | 11.7% | 7.8% | 8.9% | 8.5% |
Bonds | 0.1% | -3.2% | 0.9% | -5.5% | -2.0% | 0.2% | -0.4% | 0.2% | 1.2% | 1.9% | 2.3% | 3.1% |
Source: GLIO, FT Wilshire & Bloomberg
Defining Infrastructure
Global listed infrastructure companies tend to own long-lived assets that provide essential services to society, such regulated utilities, renewables, energy transportation networks, communications and transportation infrastructure. These services are often in monopoly market situations with high barriers to entry, and are supported by long-term contracts or regulation -- providing potentially stable and predictable cash flows. Growth in assets/funds under management continues to accelerate, creating new opportunities for global investors.
The FT Wilshire GLIO Listed Infrastructure Index Series is designed to capture and measure the performance of infrastructure companies, providing investors with the clearest exposure to globally listed companies which own and/or operate infrastructure assets in 5 sector groups and 11 key sectors (see table below).
FT Wilshire GLIO Listed Infrastructure - Group and Sector Breakdowns & Annualized USD Total Returns
FTW GLIO Index | No. Cos | FF MC $Bn | Wght (%) | Month | YTD | 1 Yr | 3 Yrs | 5 Yrs | 7.5 Yrs | 10 Yrs | 12.5 Yrs | 15 Yrs | 17.5 Yrs | 20 Yrs | 22.5 Yrs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Listed Infra | 206 | 2,724 | 100.0% | -2.7% | 1.2% | 3.9% | 2.2% | 4.7% | 7.9% | 6.2% | 8.3% | 9.7% | 7.5% | 9.7% | 9.8% |
Dev Capped 50% USA | 134 | 2,520 | 92.5% | -2.7% | -0.1% | 2.4% | 1.9% | 4.6% | 7.7% | 5.9% | 7.9% | 9.3% | 7.0% | 9.2% | 9.4% |
Dev Capped 50% Sector | 134 | 2,520 | 92.5% | -2.1% | 1.9% | 5.2% | 3.5% | 5.3% | 8.0% | 6.4% | 8.6% | 10.5% | 8.0% | 10.4% | 10.8% |
Dev Cap 50% Sector & USA | 134 | 2,520 | 92.5% | -2.1% | 1.3% | 4.6% | 3.3% | 5.3% | 8.0% | 6.3% | 8.5% | 10.4% | 7.9% | 10.3% | 10.7% |
Emerging Infra | 72 | 204 | 7.5% | -0.8% | 7.5% | 13.7% | 5.9% | 4.8% | 7.0% | 3.1% | 4.2% | 5.4% | 5.5% | 10.7% | 11.2% |
Developed Infra | 134 | 2,520 | 92.5% | -2.8% | 0.8% | 3.1% | 2.0% | 4.7% | 7.9% | 6.4% | 8.6% | 10.1% | 7.7% | 9.7% | 9.8% |
Utilities | 77 | 1,276 | 46.8% | -4.0% | 3.5% | 1.7% | 3.1% | 4.2% | 6.9% | 6.6% | 8.0% | 8.7% | 6.5% | 8.6% | 8.6% |
Electric Utilities | 53 | 1,062 | 39.0% | -4.7% | 4.0% | 2.0% | 3.7% | 4.6% | 6.9% | 6.8% | 8.1% | 8.7% | 6.5% | 8.6% | 8.6% |
Gas Utilities | 16 | 154 | 5.6% | -0.5% | 3.0% | 3.1% | 1.9% | 2.0% | 6.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Water Utilities | 8 | 60 | 2.2% | -1.4% | -4.0% | -6.1% | -3.7% | 3.8% | 6.8% | 6.0% | 9.1% | 10.7% | 7.1% | 9.9% | 10.9% |
Transport | 16 | 498 | 18.3% | -2.7% | -4.7% | 2.6% | 2.1% | 5.0% | 9.8% | 7.9% | 11.0% | 13.0% | 10.2% | 11.8% | 11.9% |
Rail | 8 | 422 | 15.5% | -3.1% | -5.4% | 2.1% | 1.7% | 6.0% | 10.9% | 8.8% | 11.7% | 13.8% | 11.2% | 12.2% | 11.6% |
Roads | 3 | 48 | 1.8% | 0.3% | -3.5% | 2.3% | 3.2% | 2.3% | 6.8% | 4.3% | 8.2% | 9.2% | 6.0% | 8.6% | 11.9% |
Airports | 5 | 28 | 1.0% | -0.8% | 4.9% | 12.7% | 7.4% | 0.1% | 5.4% | 6.8% | 10.4% | 12.6% | 9.4% | 12.6% | 13.1% |
Energy T&S | 13 | 362 | 13.3% | 2.1% | 13.1% | 21.6% | 12.7% | 10.0% | 7.6% | 3.0% | 6.1% | 10.8% | 8.4% | 11.2% | 12.6% |
Renewables | 18 | 207 | 7.6% | -4.3% | -7.3% | -4.5% | -3.3% | 5.8% | 11.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Communications | 10 | 177 | 6.5% | -2.0% | -12.4% | -6.1% | -11.6% | -0.4% | 7.7% | 6.7% | 9.5% | 11.7% | 9.2% | 12.5% | 11.0% |
Telecom Infra | 6 | 170 | 6.2% | -1.6% | -11.9% | -4.0% | -12.0% | 0.2% | 8.8% | 8.6% | 11.3% | 13.9% | 10.4% | 13.6% | 12.2% |
Satellites | 3 | 5 | 0.2% | -12.0% | -26.4% | -43.4% | -11.9% | -13.1% | -7.1% | -9.7% | -4.5% | -1.7% | -0.8% | 3.5% | 2.7% |
Cables | 1 | 2 | 0.1% | 3.1% | -3.5% | -3.8% | 7.5% | 10.1% | 14.1% | 18.1% | 0.0% | 0.0% | 0.0% | 0.0% | 2.7% |
Index Methodology Summary
The FT Wilshire GLIO Listed Infrastructure Index Series uses a systematic approach to determine company selection and eligibility.
Natural Language Processing (NLP) is used to identify candidate companies and isolate infrastructure related EBITDA
NLP applied to each infrastructure sector defined by GATS.
Companies and EBITDA are identified via an accept/reject of relevant words and phrases.
New constituents must have infrastructure related EBITDA ratio ≥ 0.66 and identified key phrases to be eligible.
If EBITDA is unknown, asset values are considered. If there is no asset value breakdown, sales revenue is used. If sales revenue is unavailable, the index advisory group can provide oversight if necessary.
Apply 10% EBITDA & liquidity buffer on existing constituents to prevent unnecessary turnover and whip-sawing.
Remove small and illiquid companies.
Stocks are weighted by free-float market capitalisation in US Dollars.
Review is semi-annual in March and September.
Wilshire-GLIO index advisory group can provide additional oversight.