Do you want to know more about these key themes? You can find the mega-trend reports about Digitalisation, Decarbonisation and Deglobalisation on the Van Lanschot Kempen website.
Deglobalisation: Fueling emerging infrastructure
Scale as a strategic advantage
With a global population exceeding eight billion, nearly seven billion people live in countries classified as emerging markets (source: imf).
The sheer size of emerging markets is more than just a backdrop; it's central to the investment case. Infrastructure: power, transport, and communication, forms the foundation of modern economies. In our view, the scale and pace of development in emerging markets, combined with the shifting dynamics of deglobalisation, present a structural opportunity for global infrastructure investors.
As global supply chains fragment and regionalisation accelerates, emerging markets are becoming focal points for infrastructure investment aligned with new patterns of trade, production and connectivity.
What does deglobalisation mean for infrastructure investors?
The shift away from globalisation is reshaping how and where capital is deployed. As global supply chains fragment and trade relationships shift, infrastructure investors are rethinking regional exposure, resilience, and long-term growth.
In emerging markets, this shift is accelerating:
- Supply chain diversification is creating demand for new logistics and manufacturing hubs
- Intra-regional trade is gaining momentum, reducing reliance on traditional Western blocs
- Energy and digital infrastructure are being built with strategic autonomy in mind
This shift is prompting investors to reconsider how infrastructure fits into a world that's becoming more regionally focused and less globally connected.
Why infrastructure in emerging markets?
Infrastructure has long been prized for its long-term, inflation-linked cash flows. In many emerging markets, these characteristics are frequently amplified by stronger growth trajectories and the potential to leapfrog legacy systems. These economies are not simply replicating developed market models. They are accelerating forward, often adopting the latest technologies without the burden of outdated infrastructure.
For long-term investors, this could create a compelling combination: visibility of cash flows, a higher level of protection against inflation, and exposure to secular growth. The relatively later starting point of many emerging markets extends the runway for infrastructure investment and allows for more agile adoption of next generation systems.
Do you want to know more about the mega-trend Deglobalisation? You can find the full report on our website.
Disclaimer:
Van Lanschot Kempen Investment Management NV (VLK Investment Management) is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. This document is for information purposes only and provides insufficient information for an investment decision. This document does not contain investment advice, no investment recommendation, no research, or an invitation to buy or sell any financial instruments, and should not be interpreted as such. The opinions expressed in this document are our opinions and views as of such date only. These may be subject to change at any given time, without prior notice. Kempen (Lux) Global Listed Infrastructure Fund (the "Sub-Fund") is a sub-fund of Kempen International Funds SICAV (the "Fund"), domiciled in Luxembourg. This Fund is authorised in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier. Van Lanschot Kempen Investment Management NV is the management company of the Fund. Van Lanschot Kempen Investment Management NV is authorised as management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered with the Dutch Authority for the Financial Markets (AFM) under the license of the Fund.Paying agent and representative in Switzerland is RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Bleicherweg 7, CH-8027 Zurich. The Sub-Fund is registered with the Dutch Authority for the Financial Markets (AFM) under the license of the Fund. The information in this document provides insufficient information for an investment decision. Please read the Key Information Document (available in Dutch, English and several other languages, see website) and the prospectus (available in English). These documents of the Fund are available at the registered office of the Fund located at 60, avenue J.F. Kennedy, L-1855, Luxembourg and on the website of Van Lanschot Kempen Investment Management NV (www.vanlanschotkempen.com/investment-management). The information on the website is (partly) available in Dutch and English. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered can be found on the website. The value of your investment may fluctuate. Past performance provides no guarantee for the future.
Listed Infrastructure: general risks to take into account when investing in Listed Infrastructure strategies
Please note that all investments are subject to market fluctuations. Investing in a Listed Infrastructure strategy may be subject to country risk and equity market risks and risks specific to the infrastructure market, which could negatively affect the performance. Under unusual market conditions the specific risks can increase significantly. Historic data for similar investment vehicles indicates that the strategy can carry an aggressive level of risk. Potential Investors should be aware that changes in the actual and perceived fundamentals of a company may result in changes for the market value of the shares of such company. The strategy is allowed to invest in financial derivatives and (short-term) money market instruments. Currency exposures may be hedged.
Profile of the typical investor in Listed Infrastructure strategies:
The strategy may be suitable as a core or supplemental investment for those:
· interested in a convenient way of gaining exposure to global listed infrastructure companies (international equity markets);
· seeking long-term growth of their investment (5 years or longer)
· who can bear the possibility of significant losses, especially in the short term
The value of your investment may fluctuate, past performance is no guarantee for the future. Do not take unnecessary risks.
Before you invest, it is important that you are aware of and are informed about the characteristics and risks of investing. This information can be found in the available documents of the strategy and/or in the agreements that are part of the service you choose or have chosen.
