ATLAS believes that infrastructure assets can form an important source of inflation protection within investors’ portfolios. This is based not just on historic observed returns and correlations (given, as noted above, that there is limited history that includes materially higher inflation), but on the intrinsic asset level regulation and contract structures embedded in Infrastructure companies.

For investors concerned about longer term inflation and the limitations of traditional inflation-linked assets, we believe that infrastructure assets provide a compelling proposition as they represent growth (real) assets with monopoly pricing power.

We have set out in this document some of our thoughts of how infrastructure assets protect against inflation in useful ways for investors and why ATLAS continue to believe in the value of this protection, even when headline CPI figures might look benign.

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