Premier Miton Global Renewables Trust – executive interview

Published on 20 May 2021

In this interview, James Smith, fund manager of Premier Miton Global Renewables Trust (PMGR), reflects on the six months since the trust’s change from a broad infrastructure focus to a pure renewable energy mandate and considers the outlook for the renewables sector against a backdrop of increased global focus on reducing carbon emissions.

Key points include:
• The significance of the new US administration’s renewed focus on climate change and rejoining the Paris agreement.
• The outlook for power prices and whether fears of higher inflation should worry investors in renewables.
• How PMGR differs from other renewables funds and the benefits of a non-index approach.
• Why the sector is largely insulated from COVID-19-related dividend cuts and how this could benefit investors.

PMGR’s investment objectives are to achieve a high income and to realise long-term growth in the capital value of its portfolio. PMGR seeks to achieve these objectives by investing principally in the equity and equity-related securities of companies operating primarily in the renewable energy sectors, as well as other sustainable infrastructure investments. The trust is structurally geared via zero-dividend preference shares maturing in 2025

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