Morrison & Co takes smaller fee as Infratil sees more growth

One NZ is Infratil's biggest earnings driver. (Image: One NZ)

Mon, 22 May 2023

HRL Morrison & Co will take a smaller fee for managing Infratil as the listed infrastructure investor continues to stake out strong growth from a portfolio including data centres, telecommunications and renewable energy. The investment bank founded by the late Lloyd Morrison established Infratil in the 1990s and it has delivered an annual return of 18.6% since it was set up 29 years ago. Infratil’s fortunes are closely tied with its manager, but the incentive fee has become a bone of contention in recent years as rapid valua...

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