Our investment approach has been consistent over the years:
Select the right sectors
Our investment decisions are supported by beliefs in long term megatrends that bridge business cycles. Examples of megatrends underlying our current portfolio of assets across mandates include rising personal mobility, increasing urbanisation, and the rise of environmental consciousness. Our sectors of expertise include:
Apply deep sector expertise and invest in local relationships
In addition to financial and transactional expertise, Morrison & Co employs sector experts with industry knowledge and sector experience. We recognise that infrastructure assets require intensive stakeholder management and are subject to regulatory oversight, and we therefore actively invest in managing these relationships. Deep sector experience and attention to key stakeholders are key enablers of relative outperformance.
Develop exclusive investment options
Morrison & Co avoids high profile auctions by investing significant resource in development/origination efforts and also by pushing its existing businesses to create internal investment opportunities. We prefer to have investment opportunities dictated on our terms and timing. We rely on our track record to position us as owner/operators of choice amongst potential sellers and their stakeholders.
Morrison & Co believes that strong investment performance must be underpinned by a clear commitment to adhering to best Environmental, Social and Governance (ESG) practices. Morrison & Co endeavours to ensure ESG issues are incorporated into the investment analysis, decision making and ownership policies and practices at both the group and investee company level.
In March 2010, we became a signatory to the UN Principles for Responsible Investment. We are committed to the implementation of the Principles* in our operations. While some of our mandates are global in nature we have avoided countries where political risk and corruption represent material risk. As a guide we use the OECD Consensus Country Classifications. Currently, all our investments, without, exception, are in the highest quality category.
Investee or managed companies have achievements on ESG issues:
- A majority of the directors on the Board of Infratil are independent from the Manager;
- TrustPower has a focus on renewable energy;
- NZ Bus is reducing NZ’s carbon footprint by promoting the use of public transport;
- Z Energy is providing NZ with high quality fuel meeting the strictest environmental standards.