interesting note in afr today about infra fund, page-9

you are missing the point with MIG. if the unlisted fund comes along and acquires a few assets from MIG the whole sector will be re-rated. so you are not buying MIG because its good, you are buying it because its probably the first one that will be attacked because its trading so much below NTA.

as for TCL, it is in a similar boat but they only own CityLink 100%.

the best play is CEU, no questions asked.

as for RCY, its $0.25 under its IPO price because it was priced aggressively and the traffic numbers might be a little high, its also a tunnel and there is a higher degree of constuction risk.

if you dont have any CEU, get some because at these prices its a steal.