Lazard Listed Infrastructure ETF Stock Price, News & Analysis

Lazard Listed Infrastructure ETF (NYSE Arca: GLIX) is an actively managed exchange-traded fund launched by Lazard Asset Management to give investors access to the firm’s approach to investing in listed infrastructure companies. According to Lazard Asset Management, GLIX is a high-conviction equity strategy that applies the firm’s experience in infrastructure investing to a transparent ETF format.

Investment focus and objective

The Lazard Listed Infrastructure ETF focuses on a select segment of the global infrastructure market that Lazard Asset Management believes offers higher revenue predictability, increased profitability, lower volatility, and reduced risk compared to the broader infrastructure sector. The fund targets infrastructure assets whose earnings are tied to inflation and that exhibit monopoly-like characteristics, with the goal of providing steady, inflation-linked returns and a differentiated risk-return profile.

GLIX is constructed as a concentrated portfolio, holding a limited number of listed infrastructure companies. Lazard Asset Management states that the ETF typically invests in companies with market capitalizations exceeding $2 billion, reflecting an emphasis on larger, established issuers within the listed infrastructure universe.

Actively managed, benchmark-aware approach

The ETF is described as a high-conviction, actively managed strategy. Lazard’s specialized investment team uses a benchmark-aware style rooted in bottom-up, fundamental analysis. The team focuses on identifying infrastructure businesses with inflation-tied cash flows and monopolistic or near-monopolistic characteristics, while seeking to balance expected returns and volatility at levels that sit between traditional equities and fixed income.

According to Lazard Asset Management, GLIX is designed to help investors pursue long-term goals by targeting infrastructure assets that may offer stable, inflation-protected cash flows and a balanced risk-reward profile. The fund’s portfolio construction reflects Lazard’s view that infrastructure is central to the modern economy and represents a distinct investment opportunity.

Global, currency-hedged portfolio construction

The Lazard Listed Infrastructure ETF invests in listed infrastructure companies across global markets. Lazard Asset Management notes that GLIX uses a global, currency-hedged portfolio to reduce exposure to geopolitical and exchange rate risks. The portfolio is described as passively hedged to U.S. dollars, which is intended to enhance stability for U.S.-based investors by limiting the impact of foreign currency fluctuations on returns.

By focusing on a targeted segment of the global infrastructure universe and applying currency hedging, GLIX seeks to offer investors access to infrastructure-related cash flows while mitigating some of the risks that can accompany international investing, such as currency volatility and certain geopolitical factors.

Portfolio characteristics

Lazard Asset Management indicates that GLIX’s portfolio is highly selective, generally comprising 25–50 investments in listed infrastructure companies. The emphasis on a relatively small number of holdings reflects the high-conviction nature of the strategy, in which the investment team concentrates capital in companies that meet its criteria for revenue predictability, inflation resilience, and risk-mitigated diversification.

The ETF’s focus on companies with market capitalizations above $2 billion aligns with Lazard’s stated objective of targeting larger issuers in the infrastructure space. The investment team applies bottom-up, fundamental research in an effort to identify businesses whose earnings are directly tied to inflation and whose assets exhibit monopoly-like characteristics.

Role of infrastructure in portfolios

Lazard Asset Management describes infrastructure as being at the epicenter of the modern economy and as an area where spending is expected to accelerate globally to modernize aging assets and support urbanization. Within that context, GLIX is positioned as a way for investors to access infrastructure-related cash flows that may offer inflation resilience and diversification benefits relative to traditional asset classes.

The firm highlights that the infrastructure assets targeted by GLIX are intended to provide higher revenue predictability and a risk-return profile that falls between equities and fixed income. According to Lazard Asset Management, this positioning may appeal to investors seeking to navigate market volatility while aiming for consistent long-term performance.

Management and sponsor background

The Lazard Listed Infrastructure ETF is managed by a specialized investment team at Lazard Asset Management. The strategy reflects more than two decades of infrastructure investing experience at Lazard, as described in the fund’s launch announcement. The ETF extends Lazard Asset Management’s broader range of equity, fixed income, and alternative investment products offered worldwide.

Lazard Asset Management is a subsidiary of Lazard, Inc., which is described as a financial advisory and asset management firm founded in 1848. Lazard provides financial advisory services and asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. GLIX represents one of the firm’s ETF offerings designed to package its investment capabilities in a listed, exchange-traded format.

Risk considerations

Investments in GLIX involve risk, and principal loss is possible. Lazard Asset Management emphasizes that investors should carefully consider the fund’s investment objectives, risks, charges, and expenses before investing, and should review the prospectus or summary prospectus for more complete information. The ETF’s focus on listed infrastructure companies, global markets, and a concentrated portfolio means that performance can be affected by sector-specific, geographic, regulatory, and market risks associated with infrastructure investing.