The share price performances of the nine Infrastructure Investment Companies (IICs) and of the 22 Renewable Energy Infrastructure Funds (REIFs) have been dire over the past year. Undoubtedly, the sharp rise in interest rates has presented the sector with serious challenges, especially since the yield on “risk-free” 10-year gilts has risen appreciably. Furthermore, the ongoing war in Ukraine and high inflation rates, from which many IICs and REIFs are partially ‒ if not wholly ‒ protected, continue to unsettle the sector. Not only are rising interest rates seriously eroding investor sentiment, as the appeal of “risk-free” gilt-edged stocks is significantly raised, but they also directly affect NAVs. In recent months, several NAV reductions have taken place. Moreover, the average IIC is currently trading at a 22% discount (on an unweighted basis) to its NAV; the comparable discount (also on an unweighted basis) for the REIFs is 21%. Not surprisingly, there are now several share buyback schemes under way.