Ecofin Global Utilities and Infrastructure Trust plc's investment objectives are to achieve a high, secure dividend yield on its investment portfolio and to realise long-term growth in the capital value of its portfolio for the benefit of shareholders, while taking care to preserve shareholders’ capital.

Fund Stats as of 06/04/2020:

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NAV per Share (pence)

143.33

Share Price (pence)

141.00

Premium/Discount

-1.63%

Dividend Yield

4.54%

Total Net Assets

£134,228,941

Gearing (% of net assets)

7.10%

Issued Share Capital

91,872,247

SEDOL

BD3V464

ISIN

GB00BD3V4641

Ecofin Global Utilities and Infrastructure Trust plc (the ‘Company’ or ‘EGL’) is an investment company as per Section 833 of the Companies Act 2006 domiciled in the United Kingdom. Its ordinary shares are listed on the London Stock Exchange (EGL:LN). As an investment trust, the Company is exempt from capital gains tax and its shares are eligible for inclusion in an Individual Savings Account.

The ordinary shares of EGL began trading on the London Stock Exchange on 26 September 2016, further to a Scheme of Reconstruction which was approved by shareholders of Ecofin Water & Power Opportunities plc (EWPO) in September 2016.

The Company’s assets are primarily invested in equity and equity-related securities of utility and infrastructure companies in developed countries. 

  • Electric & Gas Utilities: Generation, Transmission & Distribution of Electricty, Gas and Liquid Fuels and Renewable Energies
  • Transportation Services: Roads, Railways, Ports & Airports
  • Water & Environment: Water Supply, Wastewater, Water Treatment and Environmental Services

EGL may make use of gearing to enable it to earn a high level of dividend income and to offer shareholders a geared return on their investment.  The Directors of EGL believe that the use of gearing is justified given the nature of most of the companies in which EGL invests; that is, companies which provide essential services, operate in regulated markets and within stable regulatory frameworks, and pay dividends. EGL utilises a flexible gearing policy with the ability to borrow amounts up to 25% of the Company’s net assets.

EGL is registered in England & Wales with Registered Number 10253041.

Current shareholders of EF Realisation Company Limited can access liquidation documents here.

Allocations

As of 31/03/2020

10 Largest holdings

As of 31/03/2020
Company % of Total
NextEra Energy
6.4%
US
Enel
5.6%
Italy
EDP
5.6%
Portugal
SSE
5.0%
UK
Iberdrola
4.6%
Spain
Company % of Total
National Grid
4.4%
UK
Exelon
3.7%
US
RWE
3.4%
Germany
Engie
3.1%
France
Redes Energeticas Nacionais
3.1%
Portugal

  1. 26 September, 2016. As at 13 September, 2016, the value of the assets attributable to EGL, further to the reconstruction of Ecofin Water & Power Opportunities plc (EWPO), was £124,528,000 or 135.54p per share. By 26 September, 2016, the date of admission of EGL’s shares to trading, the value of the Company’s assets had increased to £129,200,000 or 140.63p per share and the mid-market price of the shares was 113.00p.

Source: Bloomberg. Performance is shown on a total return basis, i.e., assuming reinvestment of dividends.

The Board of Directors are all non-executive and three of them, including the Chairman, are independent of Tortoise Advisors UK Limited, the Investment Manager.

David Simpson

David Simpson, the Chairman of the Company, is a qualified solicitor and was a partner at KPMG for 15 years until 2013, culminating as global head of M&A. Before that he spent 15 years in investment banking, latterly at Barclays de Zoete Wedd Ltd. He is Chairman of M&G Credit Income Investment Trust plc, a director of the British Geological Survey and a director of ITC Limited, a major listed Indian company.

Appointed as Chairman of EGL in September 2016 (independent)

Chairman of the Management Engagement Committee, Member of the Audit Committee, Member of the Remuneration Committee

Iain McLaren

Iain McLaren is a chartered accountant and was a partner at KPMG for 27 years, including senior partner in Scotland from 1999 to 2004, retiring from the firm in 2008. He is a non-executive director of Edinburgh Dragon Trust plc, Wentworth Resources plc and Jadestone Energy Inc.  He is a past president of the Institute of Chartered Accountants of Scotland.

Appointed as a Director of EGL in September 2016 (independent)

Chairman of the Audit Committee, Member of the Management Engagement Committee, Member of the Remuneration Committee, Senior Independent Director 

Martin Nègre

Martin Nègre was, until June 2001, the chief executive officer of Northumbrian Water plc, then a subsidiary of Suez Lyonnaise des Eaux, and Suez Lyonnaise’s chief corporate representative in the UK. Prior to that, he was Suez Lyonnaise’s international director in Paris and then its Asia-Pacific president in Hong Kong and Singapore. Before that, he spent 21 years with Alsthom and GEC Alsthom, the Anglo/French engineering company, where he was a senior executive and the chief executive officer of the power generation division. He is chairman of the Tortoise Vista Long-Short Fund and the Tortoise Global Renewables Infrastructure Fund, funds managed by the Investment Manager, and a non-executive director of Northumbrian Water Limited and Messrs Hottinger & Cie, Paris.

Appointed as a Director of EGL in September 2016

Malcolm (Max) King

Max King is a chartered accountant and has over 30 years’ experience in fund management having worked at Finsbury Asset Management, J O Hambro Capital Management and Investec Asset Management. He is currently a non-executive director of Henderson Opportunities Trust plc and of Gore Street Energy Storage Fund plc. 

Appointed as a Director of EGL in September 2017 (independent)

Chairman of the Remuneration Committee, Member of the Management Engagement Committee, Member of the Audit Committee

Company Secretary and Registered Office

BNP Paribas Secretarial Services Limited

10 Harewood Avenue
London NW1 6AA

tel: 020 7410 5971

email: secretarialservice@uk.bnpparibas.com

  • Administrator

    BNP Paribas Securities Services S.C.A.

    10 Harewood Avenue
    London NW1 6AA

  • Broker

    Stifel Nicolaus Europe Limited

    150 Cheapside
    London EC2V 6ET

  • Investment Manager

    Tortoise Advisors UK Limited

    Burdett House
    15 Buckingham Street
    London WC2N 6DU

  • Banker, Custodian and Depositary

    Citigroup

    Citigroup Centre
    Canada Square, Canary Wharf
    London E14 5LB

  • Solicitor

    Norton Rose Fulbright LLP

    3 More London Riverside
    London SE1 2AQ

  • Registered Auditor

    Ernst & Young LLP

    Atria One
    144 Morrison Street
    Edenburgh EH1 8EX

  • Registrar

    Link Asset Services

    The Registry
    34 Beckenham Road
    Beckenham
    Kent BR3 4TU
    tel (uk): 0871 664 0300
    tel (overseas): +44 371 664 0300

The share register for Ecofin Global Utilities and Infrastructure Trust plc is maintained by Link Asset Services. If you have a problem – such as a lost documentation or dividend cheque – please contact Link Asset Services directly. Your account details may also be accessed by using their website.

Link Asset Services
The Registry
34 Beckenham Road
Beckenham
Kent BR3 4TU

Telephone for enquiries: 0871 664 0300

enquiries@linkgroup.co.uk

Financial Calendar

Dividends payable (last business day of) February, May, August, November
AGM March
Half-year ends 31 March
Release of Interim Report May
Financial year ends 30 September
Release of Annual Report December

Regulatory Documents