An Infrastructure Play to Help Diversify

In the never-ending quest for quirky holdings that might be able to deliver equitylike returns with little or no correlation to the U.S. stock market, as well as a decent dividend, here's a look at Brookfield Infrastructure Partners(BIP Quote).

BIP, which was spun off from Brookfield Asset Management(BAM Quote) on Feb. 1, owns infrastructure assets that it describes as high quality "with high barriers to entry and low maintenance capital requirements that generate stable and growing cash flows." It plans to invest in other projects it believes has similar attributes.

The management hopes to find these attributes with toll roads, airports, ports, more timber and more electrical transmission.

The current mix is comprised of complete ownership of Ontario Transmission, partial stakes in electricity transmission in Brazil and Chile and partial stakes in timber companies in Vancouver, Oregon and Washington State. ...