Real assets have grown in popularity in recent years, as an option to combat a low-yield from fixed income and perceived high equity market values.

But what are real assets and how can they fit within a wider investment portfolio?

My guest on the podcast today is Luke Hyde-Smith from Waverton Investment Management.

Luke is Head of Third Party Fund Selection and co-manager of the Waverton Real Assets Fund, launched earlier this year.

The fund invests in five broad real asset classes; property, infrastructure, asset finance, commodities and specialist lending. These investments are predominantly backed by tangible assets, often with some level of inflation linkage to the cash flows.

My usual disclaimer then, because we're discussing a specific investment fund in this episode. Nothing in this episode is a recommendation to buy, sell or hold a specific investment fund. You should seek independent financial advice before making investment decisions.

In this episode, we talk about the risk and reward profile of real assets, how access to infrastructure investments have changed in recent years, what some of the real assets in Luke's portfolio look like, and how real assets could perform under different Brexit scenarios.

Here's my conversation with Luke Hyde-Smith from Waverton Investment Management in episode 462 of Informed Choice Radio.

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