AIC Utilities sector renamed Infrastructure Securities

The Association of Investment Companies (AIC) will rename its Utilities sector Infrastructure Securities on 16 December. The new sector will contain investment companies with over 80% invested directly in listed infrastructure shares. The constituents will be Ecofin Global Utilities and Infrastructure and Premier Global Infrastructure, those currently within the Utilities sector.

The change follows a review led by the AIC’s independent statistics committee of brokers, research analysts and data providers. The composition of leading global indices suggests that utilities is now seen as a sub-sector of infrastructure. However, Infrastructure Securities has been kept separate from the existing Infrastructure sector so investors can easily understand whether they are investing in listed or unlisted infrastructure. The new name will ensure that Infrastructure Securities will be closer to the Infrastructure sector in research tools and data tables.

The renaming follows the example of the Property Securities sector which was created for investment companies investing in listed shares of property companies. For a list of the current investment company sectors, constituents and descriptions click here.

Ian Sayers, Chief Executive of the Association of Investment Companies (AIC), said: “We have renamed the Utilities sector Infrastructure Securities to assist investors, analysts and industry professionals in understanding the underlying holdings of these investment companies. The new sector name is consistent with the wider market view. It will help investors in their research process and inform their investment decisions.”

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Notes

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