Ecofin Global Utilities and Infrastructure Trust plc is an investment company 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.

Fund Stats as of 22/07/2024:

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The ordinary shares of Ecofin Global Utilities and Infrastructure Trust plc (the ‘Company’ or ‘EGL’) began trading on the London Stock Exchange on 26 September 2016. The Company’s assets are primarily invested in equity and equity-related securities of utility and infrastructure companies in developed countries. These companies have a mix of regulated and growth-oriented business segments:

Electric & gas utilities

Generation, transmission & distribution of electricity, gas and liquid fuels and renewable energies

Transportation services

Roads, railways, ports and airports

Water & environment

Water supply, wastewater, water treatment and environmental services

The latest from EGL


Sectors set for profitable growth

There is a requirement for substantially greater investment in economic infrastructure globally in order to support economic growth and to meet the UN’s Sustainable Development Goals. Corporate strategies are changing rapidly in the Company’s sectors to meet the urgent demands for more and cleaner electricity and for the mitigation of environmental risks. Capital spending requirements related to the modernisation of inadequate infrastructure and to the transition to low and zero carbon energies should support profitable growth for the Company’s investment universe and portfolio.

Investment objective and policy

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.

The Company 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 the Company believe that the use of gearing is justified given the nature of most of the companies in which the Company invests; that is, companies which provide essential services, operate in regulated markets and within stable regulatory frameworks, and pay dividends. The Company utilises a flexible gearing policy with the ability to borrow amounts up to 25% of net assets.

The Company is registered in England & Wales with Registered Number 10253041.

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As of 30/06/2024

10 Largest holdings

As of 30/06/2024
Company % of Total
National Grid
United Kingdom
NextEra Energy
United States
American Electric Power
United States
United Kingdom
Company % of Total
Edison Int'l
United States
Constellation Energy
United States

  1. 26 September, 2016

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 independent. Apart from Max King, Susannah Nicklin and Joanna Santinon, the directors were appointed at admission on 26 September, 2016. All directors are members of the Audit Committee, Management Engagement Committee and Remuneration Committee.

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, and a director of Aberdeen New India Investment Trust PLC and ITC Limited, a major listed Indian company.

Malcolm (Max) King

Chairman of the Remuneration Committee

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 also a columnist for MoneyWeek magazine. Max is currently a director of Gore Street Energy Storage Fund plc. He was appointed as a director of the Company on 11 September 2017.

Susannah Nicklin

Senior Independent Director

Susannah Nicklin is an experienced non-executive director and financial services professional with 25 years of experience in executive roles in investment banking, equity research and wealth management at Goldman Sachs and Alliance Bernstein in the US, Australia and the UK. Susannah is Chair of the Schroder BSC Social Impact Trust plc and a non-executive director of Baronsmead Venture Trust plc, The North American Income Trust plc and Frog Capital LLC. She holds the Chartered Financial Analyst qualification. She was appointed as a director of the Company on 9 September 2020.

Joanna Santinon

Chairman of the Audit Committee

Joanna Santinon is a chartered accountant and chartered tax adviser. She specialised in tax, transactions and private equity, and gained wider experience including mergers and acquisitions, strategic investments, capital raisings and listings in her 24 year career at EY. Joanna was a founder member of the 30% Club in the UK. She is a non-executive director and audit committee chair of Octopus Future Generations VCT plc and of Guinness VCT plc. She is also a trustee of The Centre For Entrepreneurs. She was appointed as a director of the Company on 12 September 2023.

Company Secretary and Registered Office

Company Secretary and Registered Office
Apex Fund Administration Services (UK) Limited
Hamilton Centre
Rodney Way
Chelmsford CM1 3BY

Tel: 01245 950317


  • 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

    Ecofin Advisors Limited

    Burdett House
    15 Buckingham Street
    London WC2N 6DU

  • Banker, Custodian and Depositary


    Citigroup Centre
    Canada Square, Canary Wharf
    London E14 5LB

  • Solicitor

    Norton Rose Fulbright LLP

    3 More London Riverside
    London SE1 2AQ

  • Registered Auditor


    55 Baker Street
    London W1U 7EU

  • Registrar

    Computershare Investor Services PLC

    The Pavilions, Bridgwater Road, Bristol
    BS99 6ZZ, United Kingdom
    Telephone for enquiries: +44 (0)370 703 6234

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

Computershare Investor Services PLC
The Pavilions, Bridgwater Road, Bristol
BS99 6ZZ, United Kingdom

Telephone for enquiries: +44 (0)370 703 6234

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

Research Reports