Premier Asset Management is to launch an ethical investment trust for Andrew Whalley and Kevin Scutt.
The fund, to be registered in Guernsey, will follow the winding up of Whalley and Scutt’s split-cap European Utilities trust in January. Launch will be subject to shareholder approval.
The new Premier Renewable Energy Fund (PREF) will be structured as a closed-ended investment company. It will invest in green utility firms and pure renewable businesses worldwide.
Premier investment director Nigel Sidebottom said while the utilities mandate had been very successful, the opportunities within the sector were contracting because of merger and acquisition activity.
Sidebottom said: ‘We feel the renewable energy space will be a massive growth area over the next 10 years and beyond.’
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