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LONDON - Ecofin Global Utilities and Infrastructure Trust plc (LSE: EGL) announced robust performance results in the past year at its Annual General Meeting (AGM) held today. The investment trust, which specializes in utilities and infrastructure assets, reported a 25.9% increase in net asset value total return per share for the year ending September 30, 2024, and a 24.8% rise in share price total return, outperforming its benchmark indices.
Chairman David Simpson highlighted EGL’s strategic investments in regulated utilities and infrastructure assets as key drivers of the trust’s resilient earnings and growth potential. He pointed to the U.S. energy market, where EGL’s stock selections thrived amid the demand for infrastructure supporting energy transition and decarbonization efforts.
In response to the investment trust sector’s challenges, EGL has implemented measures to enhance shareholder value. These include the repurchase of over 5.8 million shares in the past year, a transition of the Investment Manager role to RWC Asset Management (Redwheel) as of October 1, 2024, and a reduction in the investment management fee. The investment team remains unchanged under Redwheel’s management, which brings additional expertise and resources.
EGL has also taken steps to improve shareholder communications and engagement. This includes streamlining administrative processes, appointing specialist communication advisers, and establishing a LinkedIn presence for better interaction with current and prospective shareholders. The trust has invited shareholder questions ahead of the AGM and plans to further enhance the quality of investor communications and disclosure.
The portfolio management team, led by Jean-Hugues de Lamaze, will provide an update on EGL’s performance, with a presentation and video to be made available on the Company’s website following the AGM’s conclusion. No new material information will be disclosed in the presentation.
The information in this article is based on a press release statement from Ecofin Global Utilities and Infrastructure Trust plc.
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