The momentum behind infrastructure equities has slowed over the last 18 months, with concerns over interest rate rises and political factors seemingly undermining the investment case for the asset class.
After an unusually calm 2017, we have seen volatility return to equities across the globe, with many markets seeing growth moderate.
'This time may be different': Investors urged not to ignore warning signs from 'gut-churning' market sell-off
Concerns raised over Fed tightening and US market slump
Industry Voice: There was bad news for the consumer as inflation moved higher in August, now rising at a faster pace than some measures of pay growth.
The US economy continues to be in very good shape. This was the message delivered by the Federal Reserve Chair Jerome Powell at the end of August: he sees a robust US economy and positive momentum, expecting the strong performance to continue.
Partner Insight: UK inflation hit a six-month high of 2.7% in September, having held steady earlier this year. The rise is not good news for consumers - slowing the recovery in spending power.
One more in 2018
'Three cycles are colliding'
Cash levels reduced
Eight-week high against US dollar
Trade wars continue to dominate headlines. It is often the explanation behind any sell-off.
It has been well documented how momentum and growth investing have outperformed value as an investment style for most of the past decade.
'Bull markets do not die of old age': Managers confident record US equity run still has legs despite threats
Set the record on 22 August
On back of plummeting currency
How have they performed this summer?
Despite a dismal performance in the first half of 2018 owing to a plethora of setbacks - such as the stronger US dollar, the Turkish crisis, rising trade tensions and policy turbulence - emerging markets have a lot to look forward to in the second half...
Helped by rising oil price
In client meetings, it is usual to be asked about what we are worried about.
Raised by 25 basis points to 0.75%
91% chance of a rate rise
Contagion risk with US and China trade war