19/05/2026 09:56

Infrastructure (Real Assets)

Toll roads, pipelines, electricity networks and airports often have revenues contractually linked to CPI. They are textbook inflation hedges: cash flows rise with inflation, asset values increase in replacement-cost terms, and the essential nature of the assets helps protect volumes. The caveat is that they are also rate-sensitive and can behave like long-duration bonds from a valuation perspective. If rates rise sharply, multiples can compress in the short term, even if underlying cash flows remain resilient. That said, we believe portfolios should have an allocation to this space as we head into EOFY.

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25/03/2026 09:39

Where is value (and resilience) in the MM Income Portfolio?

The Active Income Strategy continues to do what it’s designed to do, deliver high, consistent income with capital growth over time, while cushioning volatility when markets get tougher – as they are currently.

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25/02/2026 09:34

Dalrymple Bay Infrastructure (DBI) $5.43

DBI delivered a mixed FY25 result yesterday, with revenue and cash flow both strong, though there was a sharp decline in reported earnings - an accounting rather operational issue.

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01/10/2025 09:15

Dalrymple Bay Infrastructure (DBI) $4.41

There has been a lot going on in DBI in recent months, with its inclusion in the ASX 200 index and the complete sell-down by its largest shareholder, Brookfield. The exit played out in two blocks. The first came in June, when Barrenjoey handled the sale of 115m shares for $428m at $3.72, a ~7% discount to the prevailing price.

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25/08/2025 16:58

Dalrymple Bay Infrastructure (DBI) $4.70

DBI -2.08%: delivered a solid first-half result today, with earnings per security coming in at 8.7c, a healthy lift on the 7.4c delivered a year ago. While just shy of the street’s 9c expectation, the result still highlights steady momentum. 

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13/08/2025 09:22

Dalrymple Bay infrastructure (DBI) $4.79

The owner of a large coal export terminal in QLD of the same name,  has had a great run in terms of share price, reducing its yield – now at 5% (mostly franked) at current levels.

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13/03/2025 09:50

Dalrymple Bay Infrastructure (DBI) $3.56

Last month, the owner and operator of the Dalrymple Bay Coal Terminal QLD delivered a strong FY24 result and guidance for the year ahead, exactly what you want to see if you hold a stock for reliable and sustainable yield:

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25/02/2025 17:19

Dalrymple Bay Infrastructure (DBI) $3.77

DBI +0.8%: Rallied to new all-time highs today on solid FY24 results and guidance for the year ahead, though the best of it was seen early, with a fairly meaningful pullback later in the day.

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10/10/2024 09:29

Active Income Portfolio – Amendment

MM is adding a new stock to the Income Portfolio

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25/09/2024 09:14

Dalrymple Bay Infrastructure (DBI) $3.22

DBI owns and operates a 99-year lease on the coal export terminal called the Dalrymple Day Terminal (DBT) at the Port of Hay Point on the Central Queensland Coast (about 40kms from Mackay)

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