Ecofin Global Utilities and Infrastructure : EGL
Ecofin Global Utilities and Infrastructure aims to achieve a high, secure dividend yield on its portfolio and to realise long-term growth in the capital value of the portfolio for the benefit of shareholders, while taking care to preserve shareholders’ capital.
The assets will be primarily invested in the equity and equity-related securities of utility and infrastructure companies in developed countries. They define utility companies as those involved in the generation, transmission and distribution of electricity including the production of electricity from renewable sources; the transport, storage and distribution of gas; the abstraction, treatment and supply of water and the treatment of waste water; and the provision of environmental services such as recycling and waste management. Infrastructure companies are those that own and operate assets which are essential to the functioning of developed economies and to economic development and growth, notably transportation-related assets such as roads, railways, ports and airports.
We have written a number of notes that explain how Ecofin Global Utilities and Infrastructure works,
- “Utilities and infrastructure at low tide“, published 22 August 2023, looks at the valuation opportunity that has emerged in the trust’s universe
- “A portfolio for all seasons“, published 22 November 2022, looks at how the trust has been navigating turbulent markets
- “Happy birthday to ya“, published 28 October 2021, looked back at the first five years of the trust’s life
- “A wealth of opportunities“, published 16 December 2020, set out the manager’s vision of a multi-decade upswing in infrastructure development
- “Resilient income“, published in June 2020, discusses how EGL’s income has held up well in the face of covid-19, at a time when bond yields and interest rates have
tumbled, and dividend cuts have proliferated.
- “Compelling three-year track record“, published in October 2019, focused on EGL’s track record since launch
- “Unrecognised outperformance”, published in April 2019, looks at how EGL has avoided the fallout from PG&E while also outperforming the MSCI and S&P indices
- “Staying nimble”, published in October 2018, EGL has manoeuvred through a period of rising interest rates and a focus on growth stocks by taking advantage of these swings
- “On the contrary”, published in March 2018, utilities and infrastructure had a rough start to 2018 EGL management looks to implement strategies to drive outperformance once again
- “Delivering the goods”, published in November 2017, looks at the company’s portfolio and stock selection as they enter a new phase of consolidation
- “Structural growth, low volatility and high income”, published in May 2017, with investments in less volatile equities and a favourable discount rate EGL looks to attract investors looking for stable income
You can access the manager’s website here.