Premier Miton Global Renewables Trust (PMGR) is arguably unique among UK investment companies for its broad global focus on renewable energy securities, aiming for both income (current yield c 5.5%) and capital growth. Fund manager James Smith believes that renewable infrastructure operators, in which the trust invests, are likely to greatly benefit from a sustainable potential upward shift in power prices. He views this as driven primarily by increasing demand for electricity as the world transitions to cleaner sources of energy. The trust changed its mandate in late 2020, having shifted in recent years towards renewable energy stocks from its previous wider focus on utilities, water and energy companies. Given that most closed-ended renewable peers trade at a premium, a narrowing of PMGR’s discount over time could present an opportunity for investors.