Have really forgotten this was in my portfolio. Nice to see I'm firmly in the green with this.

Trading at a hefty premium compared to NTA (price 2.68). Heading to 52 week highs.

Brief history why I bought this is because I got sick of every quality power infrastructure play I invested getting taken over with ERM Power by Shell and Infigen by Iberdrola. The only option was Genex (Price at the time was 27c) which I had a feeling could get taken over (and it is happening) and some of the New Zealand firms (Mercury, Meridian).

I chose ALI because I thought being a LIC invested in various global infrastructure holdings, it might be safer and more diversified. Took a while for the "safer" part to play out and Covid really tested my conviction of holding this.

Held

NTA & Investment Update - March 2022

Am actually amazed at how well this is doing considering the circumstances with travel and covid restrictions after a few hiccups last year including a couple of capital raises (which I decided not to take as ALI were a bit vague on how capital was going to be spent)

One concern is that it is heavily weighted towards US as in the below chart. On the flipside, this has the advantage of leveraging Biden's infrastructure bill. The other concern is the leverage toward electricity, will need to study this a bit more on how electricity markets work given inputs such as coal and gas have been rising.

Anyway, one of the worry free investments in my holdings for now given the fully franked dividend.

Held