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Lazard Global Listed Infrastructure Active ETF (ASX: GIFL)

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Question asked 16/05/2026

Lazard Global Listed Infrastructure Active ETF (ASX: GIFL)

Hi Gents You've recently raised the topic of infrastructure and addressed the likes of ALI, APA and others. Havent noticed any commentary on GIFL. Seems GIFL has significantly outperformed ALI over all periods, and GIFL has also significantly beaten its benchmark over all periods. It also pays a solid yield, albeit not franked like ALI. Any thoughts on this name?

Answer

Hi Matt,

Lazard Global Listed Infrastructure Active ETF (GIFL) is an actively managed ETF investing in a concentrated portfolio of global infrastructure assets including toll roads, airports, utilities, pipelines and communications towers, offering investors exposure to defensive, inflation-linked cash flows across developed markets.

We do like the GILF ETF, but it hasn’t figured in our reports primarily because its new:

We own APA Group (ASX: APA) in our Active Growth and Active Income Portfolios, it paid a 5.4%-part franked yield over the last 12-months & is up +18.5% year-to-date. We also own Dalrymple Bay Infrastructure (ASX:DBI) in the Income Portfolio that has done well and should yield 5.2% over the coming year.
Argo Global Infrastructure Ltd (ASX: ALI) paid a 3.9% fully franked yield over the last 12-months but is up only +1.8% year-to-date.
The Lazard Global Listed Infrastructure Active ETF (GIFL) paid a 5.4% unfranked yield over the last 12-months, is up +7.5% year-to-date, but only listed in July 2024.

One of the main differences between ALI and GIFL is the former is not hedged, and the latter is. The rising AUD has impacted ALI, but not GIFL.

GIFL has performed well since it’s been listed and we will be considering it moving forward for hedged exposure. Other passive ETF strategies in the space are VanEck’s IFRA, which is hedged and Vanguard’s VBLD which is unhedged. We hold IFRA in the Core ETF Portfolio.

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Lazard Global Listed Infrastructure Active ETF (GIFL)

LAST UPDATED 15/05/2026 13:57

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