There are two big messages for investors from the sale of the NSW transmission grid for $10.3 billion – the global chase for yield is intensifying and reports of the death of electricity networks were premature.
A third message is to be careful of the incentives built into the funds management industry which encourage the accumulation of assets at the highest possible price.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
